Upon his confirmation as liquidator, the commissioner shall give written notice of that fact to all creditors of the association holding or having possession of any of its assets. No creditor knowing of the taking possession or notified as aforesaid has a privilege or charge for any advance payment or purchase of stock thereafter made or for any liability thereafter incurred against any of the assets.
La. R.S. 6:874
Involuntary dissolution; notice to creditors
Known as the Louisiana Savings and Loan Association Law
The act spans §§ 6–6 (162 sections).
Acts 1983, No. 675, §1.
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.