La. Stat. tit. 33 § 2954
Current with operative changes from the 2024 Third Special Legislative Session
The stock subscribed shall not belong to nor be administered by the parish or municipal corporation by which the subscription is made, but shall belong to the taxpayers who have paid therefor. The tax receipt of each taxpayer shall entitle him to a certificate, transferable by delivery, from the corporation to which subscription has been made, for an amount equal to the amount of his tax paid.
La. R.S. § 33:2954