Louisiana Revised Statutes > Title 13 > Chapter 32 > Part III – Bankruptcy of Political Subdivision or Board
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Other versions
| § 13:4741 | Proceeding by parish, municipality, etc.; approval by State Bond and Tax Board |
Terms Used In Louisiana Revised Statutes > Title 13 > Chapter 32 > Part III - Bankruptcy of Political Subdivision or Board
- 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.