La. Rev. Stat. § 6:396
This is the official text of La. Rev. Stat. § 6:396, part of Louisiana’s Rev. Stat — part of the compiled statutory law of Louisiana, published by the state as "Rev. Stat." Browse the sections below, each linked to its official government source.
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Termination of executory contracts
Official statutory text
Within one hundred eighty days of the date of commencement of liquidation of the bank, the receiver may at his election reject any executory contract to which the bank is a party without any further liability to the bank or the receiver or any obligation of the bank as a lessee of movable or immovable property. The receiver's election to reject a lease creates no claim for rent other than rent accrued to the date of termination or for actual damages, if any, for such termination not to exceed the equivalent of six months' payment.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
Status: in_force · Read it on the official government site
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