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Terms Used In Louisiana Revised Statutes 51:33

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Fiduciary: A trustee, executor, or administrator.
  • Goods: includes goods, wares, and merchandise. See Louisiana Revised Statutes 51:31
  • person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10

Every person who advertises, represents, or holds out that any sale of goods is a fire, bankruptcy, or fiduciary sale shall first obtain a license to conduct the sale from the mayor of the municipality in which he proposes to conduct the sale.  For sales conducted in unincorporated areas, the person shall obtain a license from the governing authority of the parish of location.

Acts 1986, No. 806, §1; Acts 1995, No. 669, §1.