United States — Louisiana Act or statute

United States — Louisiana legislation

RS 9:3904

A person who must post a bond may agree with sureties to place covered money or assets in an approved depository for safekeeping, subject to limits on withdrawal.

bank depositscourt-approved depositoriescustody of assets

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“A person who must post a bond may agree with sureties to place covered money or assets in an approved depository for safekeeping, subject to limits on withdrawal.”

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RS 9:3904

A person who must post a bond may agree with sureties to place covered money or assets in an approved depository for safekeeping, subject to limits on withdrawal.

Section 9:3904

04

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§ 9:3904RS 9:3904Provision

A person who must post a bond may agree with sureties to place covered money or assets in an approved depository for safekeeping, subject to limits on withdrawal.

§3904. Agreement with surety as to deposit of moneys It shall be lawful for any party of whom a bond, undertaking or other obligation is required, to agree with his surety or sureties for the deposit of any or all moneys and assets for which he and his surety or sureties are or may be held responsible, with a bank, savings bank, safe-deposit or trust company, authorized by law to do business as such, or with other depository approved by the court or a judge thereof, if such deposit is otherwise proper, for the safekeeping thereof, and in such manner as to prevent the withdrawal of such money or assets or any part thereof, without the written consent of such surety or sureties, or an order of court, or a judge thereof, made on such notice to such surety or sureties as such court or judge may direct; provided, however, that such agreement shall not in any manner release from or change the liability of the principal or sureties as established by the terms of the said bond. Added by Acts 1958, No. 356, §1.
Section 9:3904Verify source

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