La. Rev. Stat. § 9:1121.108
Sale of unit; escrow accounts
Louisiana · Louisiana Revised Statutes Title 9 — Civil Code-Ancillaries · Status: effective
Cite this
- Citation
- La. Rev. Stat. § 9:1121.108, Sale of unit; escrow accounts, Louisiana, version 1 as recorded 2026-10-04, yourstate.us, https://yourstate.us/provision/2646100
- Permanent ID
ys:prov:2646100@1- SHA-256
d7668c68147ed4ab977f639a3fc23225373513057a87227cef061b5129c935ef
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
As part of the initial sale of units, the seller, whether that be the condominium developer, the declarant, or a successor-in-interest, shall collect at least two months of assessments from each unit purchaser, which funds are dedicated for the sole purpose of establishing the association's reserve account. Such funds shall be placed in a reserve escrow account separate from the seller's account. Those funds may be used only for the exclusive benefit of the unit owner's association and shall be turned over to the unit owner's association along with the other condominium assets in accordance with the association declaration or bylaws.