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Louisiana Revised Statutes Tit. 22, § 445. Tontine funds; sales prohibited

Current as of January 01, 2023 | Updated by Findlaw Staff

A. The sale by any person of tontine funds whereby any part of the principal or interest earned on individual contributions is to be used for the benefit of other contributors is hereby prohibited.

B. Nothing herein contained shall in any way be construed as prohibiting the sale of insurance policies approved for use in the state of Louisiana by the commissioner of insurance.

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Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 22, § 445. Tontine funds; sales prohibited - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-22-sect-445/

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