RS 3:3615: Exceptions

The provisions of this Part shall not apply to foreign business entities that might otherwise qualify as a foreign adversary owning agricultural lands under the following circumstances:

(1) If the right is guaranteed by a treaty or if the person's country of origin affords certain real estate rights to United States citizens.

(2) If a title to agricultural land is held as a security to indebtedness or real estate acquired upon collection of a debt.

(3) If such foreign business entity is a religious, educational, charitable, or scientific corporation.

(4) If inherited land, or land received by such foreign business entity as payment for a debt, is sold or transferred within five years.