reglab/housing_qa huggingface dataset:
LA Rev Stat § 51:1145 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1145. Limitations

RS 1145 - Limitations  A. The Venture Capital Network shall not serve any fiduciary, advisory, or evaluative function in making referrals.  B. The remedies and causes of action provided under the securities laws of the United States and under the provisions of Part X of Chapter 2 of Title 51 shall apply to any conduct or activity of the Venture Capital Network.  Acts 1987, No. 449, §1.
LA Rev Stat § 51:1146 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1146. Private sponsor

RS 1146 - Private sponsor The department shall endeavor to locate a private sector sponsor or group of sponsors to assume administration of the Venture Capital Network. Acts 1987, No. 449, §1.
LA Rev Stat § 51:1153 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1153. Proceedings to incorporate

RS 1153 - Proceedings to incorporate  Whenever any number of natural persons, not less than three, each of whom are qualified electors of the municipality or the parish, file with the governing body thereof an application in writing seeking permission to apply for the incorporation of an industrial development board of such municipality or parish, the governing body thereof shall proceed to consider such application. If the governing body by appropriate resolution duly adopted finds and determines that it is wise, expedient, necessary or advisable that the corporation be formed and authorized, the persons making such application shall proceed to incorporate in accordance with the provisions contained in Title 12 of the Louisiana Revised Statutes of 1950, as amended. No corporation may be formed unless such application first has been filed with the governing body of the municipality or in the case of a parish, the governing body of the parish, and such governing body adopts a resolution as provided in this section.  Acts 1962, No. 436, §3. Amended by Acts 1964, No. 433, §1; Acts 1972, No. 103, §3, emerg. eff. June 25, 1972, at 6:15 P.M.
LA Rev Stat § 51:1154 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1154. Articles of incorporation

RS 1154 - Articles of incorporation  In addition to the requirements of Title 12 of the Louisiana Revised Statutes of 1950, the articles of incorporation shall set forth:  1. The names and residences of the applicants, together with a recital that each of them is an elector of the municipality or the parish;  2. The name of the corporation, which shall be the Industrial Development Board of the ________ of _______, Inc. (the blank spaces to be filled in with the name of the municipality or parish, including the proper designation thereof as a city, town or parish);  3. A recital that permission to organize the corporation has been granted by resolution duly adopted by the governing body of the municipality or parish and the date of the adoption of such resolution; and  4. The location of the principal office of the corporation, which shall be in the municipality or parish.  Acts 1962, No. 436, §4. Amended by Acts 1964, No. 433, §1; Acts 1972, No. 103, §4, emerg. eff. June 25, 1972, at 6:15 P.M.
LA Rev Stat § 51:1155 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1155. Amendment to articles

RS 1155 - Amendment to articles  The articles of incorporation may at any time and from time to time be amended to make any changes therein and add any provisions thereto which might have been included in the certificate of incorporation in the first instance, provided that the members of the board of directors of the corporation first shall file with the governing body of the municipality or parish an application in writing seeking permission to amend the articles of incorporation, specifying in such application the amendment proposed to be made. The governing body thereof shall consider such application and, if by appropriate resolution it finds and determines that it is wise, expedient, necessary or advisable that the proposed amendment be made, authorizes the same to be made, and approves the form of the proposed amendment, then the persons making such application shall proceed to amend the articles in accordance with the provisions of Title 12 of the Louisiana Revised Statutes of 1950.  Acts 1962, No. 436, §5. Amended by Acts 1964, No. 433, §1.
LA Rev Stat § 51:1156 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1156. Board of directors

RS 1156 - Board of directors  A.(1) The corporation shall have a board of directors in which all powers of the corporation shall be vested and which shall consist of any number of directors, not less than three, all of whom shall be duly qualified electors of the municipality or parish with respect to which the corporation was formed. The directors shall serve as such without compensation, except that they shall be reimbursed for their actual expenses incurred in the performance of their duties hereunder. No director shall be an officer or employee of the municipality or parish. (2) The directors shall be elected by the governing body of the municipality or parish, and they shall be so elected that they shall hold office for overlapping terms. At the time of the election of the first board of directors the governing body of the municipality or the parish shall divide the directors into three groups containing as near equal whole numbers as possible. The first term of the directors included in the first group shall be two years, the first term of the directors included in the second group shall be four years, the first term of the directors included in the third group shall be six years, and thereafter the terms of all directors shall be six years; provided that if at the expiration of any term of office of any director a successor thereto has not been elected, then the director whose term of office has expired shall continue to hold office until his successor shall be so elected. B. Notwithstanding any provision of law to the contrary, the governing authority of the parish of St. Charles may appoint officers or employees of the parish as directors of the industrial development board of the parish of St. Charles. C. Notwithstanding any provision of law to the contrary, the audit of the industrial development board of the parish of St. Charles may be included in the audit of the parish of St. Charles, and additional costs of the parish audit occasioned by the audit of the industrial development board may be charged to the industrial development board. D. Notwithstanding the provisions of Paragraph (A)(1) of this Section, the board of directors of the Industrial Development Board of the Town of Vinton, Inc. may consist of members who are qualified electors of Ward Seven of the parish of Calcasieu. Acts 1962, No. 436, §6. Amended by Acts 1964, No. 433, §1; Acts 1972, No. 103, §5, emerg. eff. June 25, 1972, at 6:15 P.M.; Acts 1992, No. 117, §1, eff. June 5, 1992; Acts 2006, No. 155, §1, eff. June 2, 2006.
LA Rev Stat § 51:1157 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1157. Corporate powers

RS 1157 - Corporate powers  A. In addition to the powers granted to such corporations elsewhere in the laws of Louisiana, the corporation shall have the following powers, together with all powers incidental thereto or necessary for the performance of those hereinafter stated:  (1) To acquire, whether by purchase, exchange, gift, lease or otherwise, and to construct, improve, maintain, equip and furnish one or more projects, including all real and personal properties which the board of directors of the corporation may deem necessary in connection therewith and whether or not any such project shall then be in existence;  (2) To lease or to contract for the use to or by others any or all of its projects and to charge and collect rent, fees or charges therefor, and to terminate any such lease or contractual arrangement upon the failure of the lessee to comply with any of the obligations thereof;  (3) To sell, exchange, donate and convey any or all of its properties upon such terms and conditions as its board of directors may deem advisable, including the power to receive for any such sale the note or notes of the purchaser of a project whenever its board of directors finds any such action to be in furtherance of the purposes for which the corporation was organized;  (4) To issue its bonds for the purpose of carrying out any of its powers;  (5) As security for the payment of the principal of and interest on any bonds so issued and any agreements made in connection therewith, to mortgage and pledge any or all of its projects or any part or parts thereof, whether then owned or thereafter acquired, and to pledge the revenues and receipts therefrom or from any source thereof;  (6) To employ and pay compensation to such employees and agents, including attorneys, as the board of directors shall deem necessary for the business of the corporation.  B. The corporation shall not have the power to operate any project as a business other than as lessor. Any meeting held by the board of directors for any purpose whatsoever shall be open to the public; regular meetings of the board of directors shall be held monthly, the place, date and time to be fixed by the board of directors at its first meeting. Special meetings may be called by the president of the corporation or by any two members of the board of directors upon twenty-four hours notice to every member of the board. These special meetings shall be held at the same place provided for regular meetings of the board, provided that the requirements of a notice shall not be binding in any special meeting at which all members of the board of directors are present.  Acts 1962, No. 436, §7. Amended by Acts 1964, No. 433, §1; Acts 1972, No. 103, §6, emerg. eff. June 25, 1972, at 6:15 P.M.
LA Rev Stat § 51:1157.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1157.1. Approval by State Bond Commission

RS 1157.1 - Approval by State Bond Commission Any proposed instrument which provides security for the payment of bonds issued by the corporation shall be approved by the State Bond Commission. The issuance and sale of any bonds by the corporation shall also be approved by the State Bond Commission. Added by Acts 1977, No. 696, §1. Acts 1984, No. 631, §1, eff. July 12, 1984; Acts 2014, No. 549, §2, eff. July 1, 2014. {{NOTE: SEE ACTS 1984, NO. 631, §2.}}
LA Rev Stat § 51:1157.2 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1157.2. Preference in awarding contracts; labor

RS 1157.2 - Preference in awarding contracts; labor A. The State Bond Commission shall not grant preliminary approval of bonds for industrial development unless the project beneficiaries certify to the State Bond Commission and to the secretary of the Department of Economic Development that Louisiana manufacturers, contractors, subcontractors, and suppliers will be given an opportunity to bid on the project and that preference and priority will be given to Louisiana manufacturers, contractors, subcontractors, suppliers, and labor. Prior to final approval by the State Bond Commission, project beneficiaries shall provide a certified list of names and business domiciles of the manufacturers, contractors, subcontractors, and suppliers for the project. In addition, the project beneficiaries shall submit to the State Bond Commission and the secretary of the Department of Economic Development a statement as to whether or not Louisiana labor will be used on the project. If Louisiana manufacturers, contractors, subcontractors, suppliers, or labor will not be used on the project, the project beneficiaries shall provide a written explanation to the State Bond Commission and the secretary of the Department of Economic Development detailing the reasons therefor for consideration by the commission prior to final approval. B. The secretary of the Department of Economic Development shall verify the information provided by the project beneficiaries and shall certify to the State Bond Commission whether or not the manufacturers, contractors, subcontractors, suppliers, and labor are indeed Louisiana manufacturers, contractors, subcontractors, suppliers, and labor. If not, the secretary shall notify the State Bond Commission of such fact. Upon notification of such fact, the State Bond Commission may hold a public hearing, at which time the project beneficiary may provide explanations for why the project is not in compliance with the provisions of Subsection A herein. C. If the project beneficiary is found to be not in compliance with the provisions of Subsection A herein, the State Bond Commission may levy a fine not to exceed an amount equal to the difference between the base rate on corporate loans at large U.S. money centers or commercial banks published in the Wall Street Journal as the prime rate on the date of the issuance of the bonds and the actual interest rate at which the bonds were sold times the total amount of the issue. Acts 1986, No. 788, §1.
LA Rev Stat § 51:1157.3 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1157.3. Rapides Parish industrial development board; bond issuance prohibited

RS 1157.3 - Rapides Parish industrial development board; bond issuance prohibited  Beginning August 1, 1993, the Industrial Development Board of Rapides Parish shall be prohibited from issuing any bonds pursuant to the authority provided by Chapter 7 of Title 51 of the Louisiana Revised Statutes of 1950. The board shall honor all bonds issued previous to August 1, 1993.  Acts 1993, No. 735, §1.
LA Rev Stat § 51:1158.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1158.1. Contesting bonds; peremption

RS 1158.1 - Contesting bonds; peremption  Every resolution authorizing the issuance of bonds by a corporation and any lease, the payments under which are pledged as security for bonds, shall be published once in a newspaper published in the parish in which the corporation is located or, if there is none, then in a newspaper having general circulation therein; provided, however, it shall not be necessary to publish exhibits to such resolutions and leases if the same are available for public inspection and such fact is indicated in the newspaper publication. For a period of thirty days after the date of the publication any person in interest may contest the legality of the lease, the resolution, the bonds authorized thereby, and any provision therein made for the security and payment of the bonds. After this time, no one shall have any cause of action to test the regularity, formality, legality or effectiveness of the lease, resolution, bonds and provisions thereof for any cause whatever and it shall be conclusively presumed that every legal requirement for the issuance of the bonds has been complied with, and no court shall have authority to inquire into any such matters after the lapse of this thirty days.  Added by Acts 1972, No. 103, §7, emerg. eff. June 25, 1972, at 6:15 P.M.
LA Rev Stat § 51:1159 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1159. Security for bonds

RS 1159 - Security for bonds  The principal of and interest on any bonds issued by the corporation shall be secured by a pledge of the revenues and receipts out of which the same are made payable, and may be secured by a mortgage covering all or any part of the projects from which the revenues or receipts so pledged may be derived, including any enlargements of and additions to any such projects thereafter made. The resolution under which the bonds are authorized to be issued and any such mortgage may contain any agreements and provisions respecting the maintenance of the projects covered thereby, the fixing and collection of rents for any portions thereof leased by the corporation to others, the creation and maintenance of special funds from such revenues and the rights and remedies available in the event of default, all as the board of directors shall deem advisable and not in conflict with the provisions hereof. Each pledge, agreement and mortgage made for the benefit or security of any of the bonds of the corporation shall continue effective until the principal of and interest on the bonds for the benefit of which the same were made have been fully paid. In the event of default in such payment or in any agreements of the corporation made as a part of the contract under which the bonds were issued, whether contained in the proceedings authorizing the bonds or in any mortgage executed as security therefor, may be enforced by mandamus, the appointment of a receiver, or by foreclosure of any such mortgage, or any one or more of said remedies.  Acts 1962, No. 436, §9.
LA Rev Stat § 51:1160 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1160. Exemption from taxation; classification of bonds

RS 1160 - Exemption from taxation; classification of bonds The corporation is hereby declared to be performing a public function on behalf of the municipality or parish with respect to which the corporation is organized and to be a public instrumentality of such municipality or parish. Accordingly, the corporation and all properties at any time owned by it and the income therefrom and all bonds issued by it and the income therefrom shall be exempt from all taxation in the state of Louisiana; provided, however, that the corporation may require the lessee of each of the projects of the corporation to pay annually to parish or municipal taxing authorities, through the normal collecting agency, a sum in lieu of ad valorem taxes to compensate such authorities for any services rendered by them to such projects which sum shall not be in excess of the ad valorem taxes such lessee would have been obligated to pay to such authorities had it been the owner of such project during the period for which such payment is made. Such payments to be made in lieu of taxes together with any fees and charges of such public trust, to the extent in the aggregate they do not exceed the amount of taxes that would be paid if the lessee were the owner, shall constitute statutory impositions within the meaning of R.S. 47:2128. Also for the purposes of R.S. 51:708(1) and any amendment thereto or substitution therefor, bonds issued by the corporation shall be determined to be securities issued by a public instrumentality of a political subdivision of the state of Louisiana. Acts 1962, No. 436, §10. Amended by Acts 1966, Ex.Sess., No. 21, §1; Acts 1972, No. 103, §8, emerg. eff. June 25, 1972, at 6:15 P.M; Acts 2010, No. 1042, §3, eff. July 8, 2010.
LA Rev Stat § 51:1161 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1161. Municipality or parish not liable

RS 1161 - Municipality or parish not liable  The municipality or the parish shall not in any event be liable for the payment of the principal of or interest on any bonds of the corporation, formed thereby or for the performance of any pledge, mortgage, obligation or agreement of any kind whatsoever which may be undertaken by the corporation, and none of the bonds of the corporation or any of its agreements or obligations shall be construed to constitute an indebtedness of the municipality or parish within the meaning of any constitutional or statutory provisions whatsoever.  Acts 1962, No. 436, §11. Amended by Acts 1964, No. 433, §1.
LA Rev Stat § 51:1162 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1162. Earnings of the corporation

RS 1162 - Earnings of the corporation  The corporation shall be a nonprofit corporation, and no part of its net earnings remaining after payment of its expenses shall inure to the benefit of any individual, firm or corporation, except that in the event the board of directors of the corporation shall determine that sufficient provision has been made for the full payment of the expenses, bonds and other obligations of the corporation, then any net earnings of the corporation thereafter accruing shall be paid to the municipality or parish with respect to which the corporation was organized. In the event a lease agreement is entered into under the provisions of this chapter for a project and such lease agreement gives the lessee the right to purchase the project facilities when the bonds issued to acquire the same are paid in full at a stipulated price, then the proceeds of the sale, after payment of all expenses and obligations of the corporation, shall be paid to the municipality or parish under whose auspices the corporation was created.  Acts 1962, No. 436, §12. Amended by Acts 1964, No. 433, §1; Acts 1972, No. 103, §9, emerg. eff. June 25, 1972, at 6:15 P.M.
LA Rev Stat § 51:1163 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1163. Dissolution of corporation and vesting of title in municipality or parish

RS 1163 - Dissolution of corporation and vesting of title in municipality or parish  Whenever the board of directors of the corporation, by resolution shall determine that the purposes for which the corporation was formed have been substantially complied with and that all bonds theretofore issued and all obligations theretofore incurred by the corporation have been fully paid, the members of the board of directors of the corporation shall thereupon dissolve the corporation in accordance with the provisions of Title 12 of the Louisiana Revised Statutes of 1950, and in the proceedings therefor transfer the title to all funds and properties then owned by the corporation to the municipality or parish under whose auspices the corporation shall have been created.  Acts 1962, No. 436, §13. Amended by Acts 1964, No. 433, §1; Acts 1972, No. 103, §10, emerg. eff. June 25, 1972, at 6:15 P.M.
LA Rev Stat § 51:1164 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1164. Recordation of documents without cost

RS 1164 - Recordation of documents without cost  The articles of incorporation of the corporation, any deeds or other documents whereby properties are conveyed to the corporation, any mortgages executed by the corporation, and the certificate of dissolution of the corporation, all may be filed for record with the secretary of state or in the parish in which the corporation is organized without the payment of any tax or fees other than such fees as may be authorized by law for the recording of such instruments.  Acts 1962, No. 436, §14.
LA Rev Stat § 51:1165 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1165. Chapter cumulative; no notice required

RS 1165 - Chapter cumulative; no notice required  Neither this chapter nor anything herein contained shall be construed as a restriction or limitation upon any powers which the corporation otherwise might have under any laws of this state, but shall be construed as cumulative of any such powers. No proceedings, notice or approval shall be required for the organization of the corporation or the issuance of any bonds or any instrument as security therefor, except as is herein provided, any other law to the contrary notwithstanding, provided, that nothing herein shall be construed to deprive the state and its governmental subdivisions of their respective police powers over any properties of the corporation, or to impair any police power thereover of any official or agency of the state and its governmental subdivisions which may be otherwise provided by law.  Acts 1962, No. 436, §15. Amended by Acts 1972, No. 103, §11, emerg. eff. June 25, 1972, at 6:15 P.M.