Louisiana Revised Statutes 56:432 – Territorial limitations
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Louisiana Revised Statutes 56:432
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
No person, partnership, or corporation shall lease more than two thousand five hundred acres of water bottoms. Whoever leases more than the allotted amount of water bottoms forfeits, after due trial by competent court, all leases held by him on any water bottoms of the state.
Acts 1981, No. 753, §1. Amended by Acts 1981, No. 925, §1; Acts 2003, No. 449, §1.