La. Corporations and Associations § 12:961

Current with operative changes from the 2024 Third Special Legislative Session
Section 12:961 - Deposits

The corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of any director who is an officer or director of the depository so designated. The corporation shall not receive money on deposit.

La. Corporations and Associations § 12:961

Acts 1969, No. 49, §11.
Acts 1969, No. 49, §11.