RS 244 - Transfers by bank and other acts in contemplation of insolvency
A. The following, when made with a view to prevent the application of the assets of any state bank in the preference of one creditor to another, shall be utterly null and void:
(1) All transfers of the notes, bonds, bills of exchange, or other evidences of debt owing to such state bank, or of deposits to its credit.
(2) All assignments of mortgages, sureties on real estate, or of judgments or decrees in its favor.
(3) All deposits of money, bullion, or other valuable thing for its use, or for the use of any of its shareholders or creditors.
(4) All payments of money to either its shareholders or creditors, made after the commission of an act of insolvency, or in contemplation thereof.
B. No attachment, injunction, or execution shall be issued against such bank or its property before final judgment in any suit, action, or proceeding in any court.
Acts 1990, No. 528, §1.