reglab/housing_qa huggingface dataset:
LA Rev Stat § 51:1911 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1911. Bond or trust account required

RS 1911 - Bond or trust account required  A. Every loan broker must obtain a surety bond issued by a surety company authorized to do business in Louisiana, or establish a trust account with a licensed and insured bank or savings institution located in Louisiana. The amount of the bond or trust account shall be twenty five thousand dollars. The bond or trust account shall be in favor of the state of Louisiana. Any person damaged by the loan broker's breach of contract or of any obligation arising therefrom, or by any violation of law, or the attorney general seeking additional relief under R.S. 51:1408, may bring an action against the bond or trust account to recover monies therefrom. The aggregate liability of the surety or trustee shall be only for actual damages or additional relief under R.S. 51:1408 and in no event shall exceed the amount of the bond or trust account.  B. The term of the bond shall be continuous, but it shall be subject to termination by the surety upon giving sixty days written notice to the principal and to the state treasurer. The bond shall continue in effect during the sixty day period.  C. A copy of said bond shall be conspicuously posted at any business location of the broker near the location where payments are received.  D. It shall be unlawful for any loan broker or its agent or employee to post an expired bond or a bond which does not meet the requirements of this Chapter.  E. It shall be unlawful for any loan broker or its agent or employee to collect or attempt to collect any deposit or payment toward a fee where a valid bond as required by Subsections A and B herein is not posted as required by Subsection C herein.  F. Any person who is found guilty of any act prohibited by this Section shall be guilty of a misdemeanor and shall be fined five hundred dollars, and may be imprisoned for up to six months, or both.  Added by Acts 1982, No. 811, §1.
LA Rev Stat § 51:1912 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1912. Filing with the state treasurer

RS 1912 - Filing with the state treasurer  A. Prior to placing any advertisement or making other representations to prospective borrowers in this state, every loan broker shall file with the state treasurer a copy of the disclosure statement required by R.S. 51:1914 and either a certified copy of the bond or a certified copy of the formal notification by the depository that the trust account required by R.S. 51:1911A is established. These filings shall be updated as any material changes in the required information or the status of the bond or trust account occur, but not less than annually.  B. Failure to comply with Subsection A of this Section shall be a misdemeanor punishable by a fine of five hundred dollars or imprisonment for up to six months, or both.  Added by Acts 1982, No. 811, §1.
LA Rev Stat § 51:1913 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1913. Contracts to be in writing

RS 1913 - Contracts to be in writing  Every loan brokerage contract shall be in writing and signed by all contracting parties. A copy of the contract shall be given to the prospective borrower at the time he signs the contract.  Added by Acts 1982, No. 811, §1.
LA Rev Stat § 51:1914 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1914. Required disclosure statement

RS 1914 - Required disclosure statement  At least seven days prior to the time any person signs a contract for the services of a loan broker, or the time of the receipt of any consideration by the loan broker, whichever occurs first, the broker must provide to the party with whom he contracts a written document, the cover sheet of which is entitled in at least ten point bold face capital letters "DISCLOSURE REQUIRED BY LOUISIANA LAW". Under this title shall appear the statement in at least ten point type that "The state of Louisiana has not reviewed and does not approve, or disapprove any loan brokerage contract. The information contained in this disclosure has not been verified by the state. If you have any questions see an attorney before you sign a contract agreement." Nothing except the title and required statement shall appear on the cover sheet. The disclosure document shall contain the following information:  (1) The name of the broker; whether the broker is doing business as an individual, partnership, or corporation; the names under which the broker has done, is doing, or intends to do business; and the name of any parent or affiliated companies.  (2) The names, addresses, and titles of the broker's officers, directors, trustees, general partners, general managers, principal executives, and any other persons charged with responsibility for the broker's business activities; and all the broker's employees located in Louisiana.  (3) The length of time the broker has conducted business as a loan broker.  (4) A full and detailed description of the actual services that the broker undertakes to perform for the prospective borrower.  (5) One of the following statements, whichever is appropriate:  (a) "As required by Louisiana law, this loan broker has secured a bond by ______________________________, a surety authorized to do business in this state. A certified copy of this bond is filed with the state treasurer. Before signing a contract with this loan broker, you should check with the surety company to determine the bond's current status," or  (b) "As required by Louisiana law, this loan broker has established a trust account (number of account) with (name/address of bank or savings institution). Before signing a contract with this loan broker you should check with the bank or savings institution to determine the current status of the trust account."  Added by Acts 1982, No. 811, §1.
LA Rev Stat § 51:1915 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1915. Violation as unfair trade practice; enforceability; substantiation

RS 1915 - Violation as unfair trade practice; enforceability; substantiation  A. Violation of any of the provisions of this Chapter shall constitute an unfair practice under R.S. 51:1405(A).  B. If a loan broker uses any untrue or misleading statements in connection with a loan brokerage contract, fails to fully comply with the requirements of this Chapter, fails to comply with the terms of the contract or any obligation arising therefrom, or fails to make diligent effort to obtain or procure a loan on behalf of the prospective borrower, then, upon written notice to the broker, the prospective borrower may void the contract, and shall be entitled to receive from the broker all sums paid to the broker, and recover any additional damages including attorney's fees.  C. Any contract for loan brokering services is unenforceable against the prospective borrower and a violation of this Chapter if it contains any provisions whereby the prospective borrower agrees to waive any requirements of this Chapter.  D. The remedies provided herein shall be in addition to any other remedies provided for by law.  E. Loan brokers must provide substantiation for advertising claims or other representations made to solicit business upon request of a district attorney, the attorney general or the director of the office of consumer protection.  Added by Acts 1982, No. 811, §1.
LA Rev Stat § 51:1916 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1916. Application

RS 1916 - Application  The provisions of this Chapter shall apply in all circumstances in which any party to the contract conducted any contractual activity, including but not limited to advertising, solicitation, discussion, negotiation, offer, acceptance, signing, or performance, in this state.  Added by Acts 1982, No. 811, §1.
LA Rev Stat § 51:1921 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1921. Short title

RS 1921 - Short title  This Chapter may be cited as the Louisiana Capital Companies Tax Credit Program.  Added by Acts 1983, No. 642, §1.
LA Rev Stat § 51:1922 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1922. Policy statement

RS 1922 - Policy statement  The primary purpose of the Louisiana Capital Companies Tax Credit Program is to provide assistance in the formation and expansion of new businesses which create jobs in the state by providing for the availability of venture capital financing to entrepreneurs, managers, inventors, and other individuals for the development and operation of qualified Louisiana businesses.  Acts 1983, No. 642, §1; Acts 1989, No. 496, §1.
LA Rev Stat § 51:1922.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1922.1. Administration of the program

RS 1922.1 - Administration of the program The Department of Economic Development shall maintain and interpret policy for the Louisiana Capital Companies Tax Credit Program. The Office of Financial Institutions shall perform the regulatory and examination functions of the program. Acts 2001, No. 1122, §1, eff. July 1, 2001.
LA Rev Stat § 51:1925 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1925. Certification of a capital company

RS 1925 - Certification of a capital company A. The commissioner shall provide by rule or regulation in accordance with the provisions of the Administrative Procedure Act for the procedures for making an application for certification of a capital company. B. The commissioner shall review the articles of incorporation or the articles of partnership or articles of organization of each applicant for certification and the business history of the applicant, determine that the capitalization is at least two hundred thousand dollars, and determine that the officers, board of directors, partners, managers, or members are thoroughly acquainted with the requirements of the capital company's tax credit program and the certification and decertification procedures. C. Within sixty days of application, the commissioner shall issue the certification and notify the Department of Revenue and the commissioner of insurance of said certification or shall refuse the certification and communicate in detail to the applicant the grounds for the refusal, including suggestions for the removal of those grounds. D. The commissioner shall furnish a list of persons or businesses who may claim the tax credit to the Department of Revenue and the commissioner of insurance on a calendar year quarterly basis following receipt of such quarterly information as provided for under R.S. 51:1926(F). Acts 1983, No. 642, §1; Acts 1987, No. 703, §1; Acts 1989, No. 496, §1; Acts 1993, No. 279, §2, eff. June 2, 1993; Acts 2001, No. 1122, §1, eff. July 1, 2001.
LA Rev Stat § 51:1927.2 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1927.2. Repealed by Acts 2010, No. 1034, §3.

RS 1927.2 - Repealed by Acts 2010, No. 1034, §3.
LA Rev Stat § 51:1929 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1929. Rules and regulations

RS 1929 - Rules and regulations The secretary or the commissioner may make and promulgate rules and regulations as necessary to carry out the provisions of this Chapter, including but not limited to the following: (1) Providing for definitions. (2) Establishing licensure requirements. (3) Providing for certification and decertification of licensees. (4) Addressing issues regarding premium tax reductions and income tax credits. (5) Establishing fees and assessments. (6) Establishing dates by which reports shall be filed with the commissioner. (7) Providing for administrative and enforcement actions. Acts 1989, No. 496, §1; Acts 1996, No. 21, §2, eff. June 27, 1996; Acts 2001, No. 1122, §1, eff. July 1, 2001.
LA Rev Stat § 51:1929.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1929.1. Guidance by commissioner; advisory opinions

RS 1929.1 - Guidance by commissioner; advisory opinions A. Advisory opinions and interpretations of the commissioner shall not be considered rules requiring compliance with the rulemaking process under the Louisiana Administrative Procedure Act. B. This Section shall only have prospective application. Acts 1997, No. 58, §4; Acts 2001, No. 1122, §1, eff. July 1, 2001.
LA Rev Stat § 51:1930 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1930. Other department responsibilities

RS 1930 - Other department responsibilities  The department, in addition to other grants of authority to promote the economic development of the state, is hereby authorized to serve as a clearinghouse for information relevant to potential incorporators or organizers of certified Louisiana capital companies and for the locating and promoting of qualified Louisiana businesses seeking infusions of capital.  Acts 1989, No. 496, §1.
LA Rev Stat § 51:1931 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1931. Program termination

RS 1931 - Program termination The commissioner shall not certify a capital company to begin the program later than June 30, 2003. The commissioner shall not certify capital later than December 31, 2003. Acts 1983, No. 642, §1; Acts 1989, No. 496, §1; Acts 1992, No. 849, §2; Acts 1993, No. 279, §2, eff. June 2, 1993; Acts 1994, 3rd Ex. Sess., No. 9, §2; Acts 1996, No. 21, §2, eff. June 27, 1996; Acts 1998, No. 70, §2, eff. Oct. 1, 1998; Acts 2001, No. 1122, §1, eff. July 1, 2001; Acts 2002, No. 84, §2, eff. June 25, 2002.
LA Rev Stat § 51:1932 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1932. Corporation income and franchise tax exemption

RS 1932 - Corporation income and franchise tax exemption A. Notwithstanding any other provision of law to the contrary, any corporation that is a certified Louisiana capital company as provided for in this Chapter shall be exempt from the corporation income tax and the corporation franchise tax levied pursuant to Title 47 of the Louisiana Revised Statutes of 1950 for five consecutive taxable periods. The exemption from the corporation income tax shall commence with the taxable period in which the capital company is certified by the commissioner. The exemption from the corporation franchise tax shall commence with the taxable period next following the taxable period in which certification as a certified Louisiana capital company is obtained from the commissioner. B. In the case of a corporation obtaining certification as a certified Louisiana capital company prior to the beginning of its first taxable period, the exemption from corporation income tax provided for in Subsection A shall commence with the corporation's first taxable period and shall continue through its next four consecutive taxable periods. The exemption from corporation franchise tax shall commence with the corporation's second taxable period and shall continue through its next four consecutive taxable periods. Acts 1986, No. 915, §1, eff. for taxable periods after Dec. 31, 1985; Acts 1989, No. 496, §1; Acts 2001, No. 1122, §1, eff. July 1, 2001.
LA Rev Stat § 51:1933 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1933. Administration matters

RS 1933 - Administration matters All investments of certified capital in a certified Louisiana capital company prior to June 27, 1996, shall be one investment pool; the investment date of such investment pool shall be the date of certification or recertification, as the case may be, of the certified Louisiana capital company. Acts 1996, No. 21, §2, eff. June 27, 1996.
LA Rev Stat § 51:1934 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1934. Confidentiality of records

RS 1934 - Confidentiality of records A. The provisions of R.S. 51:2389(G)(5) shall apply to all records of certified Louisiana capital companies provided to or generated by the Office of Financial Institutions. B. In conjunction with the execution of their respective duties and responsibilities, the department and the commissioner may share with one another documents and other materials submitted by certified Louisiana capital companies or by Louisiana businesses. All information exchanged by the department and the commissioner shall be kept strictly confidential within the respective agencies. Such information shall not be subject to subpoena or other legal process, except as set forth in R.S. 9:3518.1(D). C. Notwithstanding any provision in this Section to the contrary, the secretary and the commissioner shall not be prohibited from disclosure of the following information: (1) The total amount of certified capital raised. (2) The total amount of certified capital raised by each certified Louisiana capital company group. (3) The total amount of certified capital invested in qualified Louisiana businesses. (4) The total amount of certified capital that each certified Louisiana capital company has that has yet to meet the sixty percent or one hundred percent requirements contained in R.S. 51:1928. (5) The total amount of certified capital invested in qualified Louisiana businesses by each certified Louisiana capital company group. (6) The amounts and types of jobs created or retained by the investments of certified capital by each certified Louisiana capital company group. Acts 1997, No. 366, §5; Acts 2001, No. 1122, §1, eff. July 1, 2001; Acts 2002, No. 84, §2, eff. June 25, 2002.
LA Rev Stat § 51:1935 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1935. Investment in approved funds

RS 1935 - Investment in approved funds A.(1) On or before December 31, 1998, any certified Louisiana capital company that will have capital certified pursuant to R.S. 51:1931 and which qualifies for credits pursuant to R.S. 22:832(E) shall enter into an agreement with the secretary wherein the certified Louisiana capital company invests a specified amount, not to exceed five percent as determined by the secretary, of all certified capital investment pools for which insurance premium tax credits were granted and that have not been decertified into: (a) One or more capital management funds as approved by the secretary whose primary investment objectives include pre-seed, seed, and early stage business ventures, and whose investment in any such business and its affiliates is limited to one million dollars or less. (b) Any certified Louisiana capital company whose primary investment objectives include investing in certified disadvantaged businesses, business ventures operating in economically distressed areas, or Louisiana businesses and affiliates in an amount not exceeding one million dollars. (2) Beginning on January 1, 2000, the secretary shall annually determine the amount of additional investment required to be invested by each certified Louisiana capital company. Such amount required to be invested by each certified Louisiana capital company shall not exceed ten percent of all capital certified in the previous calendar year that are eligible for credits pursuant to R.S. 22:832(E) from insurance tax credit investors. (3) Any investment made pursuant to this Section by a certified Louisiana capital company shall be considered a qualified Louisiana investment. B. The department may promulgate rules and regulations in accordance with the Administrative Procedure Act to provide for the governance, administration, and operation of any such capital management fund, including a requirement that any approved capital management fund be managed by a qualified individual and a requirement that each certified Louisiana capital company be eligible for equal representation on any body formed for the governance of the management fund. C. The requirements of this Section shall not apply to any investment pool certified after January 1, 2002.  Acts 1998, No. 70, §2, eff. Oct. 1, 1998; Acts 2002, No. 84, §2, eff. June 25, 2002; Acts 2008, No. 415, §2, eff. Jan. 1, 2009.
LA Rev Stat § 51:1941 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1941. Definitions

RS 1941 - Definitions  The following definitions apply when used in this Chapter:  (1) "Collateral costs" means sales tax, license fees, and registration fees and any similar governmental charges.  (2) "Consumer" means:  (a) The purchaser, other than for purposes of resale, of a new motor vehicle normally used for personal, family, or household purposes and subject to a manufacturer's express warranty.  (b) A person, other than for purposes of resale, to whom a motor vehicle is transferred during the duration of an express warranty applicable to the motor vehicle.  (c) A person to whom a motor vehicle is leased.  (d) Any other person entitled to enforce the warranty.  (3) "Dealer" means a person authorized by the manufacturer and actively engaged in the business of buying, selling, or exchanging new automobiles, new personal watercraft, or new all-terrain vehicles at retail and who has an established place of business.  (4) "Manufacturer" means any person, firm, association, corporation, or trust, resident or nonresident, who manufactures or assembles new and unused motor vehicles.  (5) "Manufacturer's express warranty" and "warranty" mean the written warranty of the manufacturer of a new motor vehicle of its condition and fitness for use, including any terms or conditions precedent to the enforcement of an obligation under that warranty.  (6) "Motor vehicle" means a passenger motor vehicle or a passenger and commercial motor vehicle as defined in R.S. 32:1252, sold in this state on or after September 1, 1984. "Motor vehicle" shall include a personal watercraft as defined in R.S. 34:855.2 and an all-terrain vehicle as defined in R.S. 32:1252, sold in this state or still under warranty on or after August 15, 1999, which is used exclusively for personal and not commercial purposes. For the purposes of this Chapter, the following motor vehicles are excluded:  (a) Motor vehicles 10,000 GVW or above.  (b) Motor vehicles used exclusively for commercial purposes.  (7) "Nonconformity" means any specific or generic defect or malfunction, or any defect or condition which substantially impairs the use, market value or both of a motor vehicle.  Acts 1984, No. 228, §1; Acts 1986, No. 553, §1; Acts 1999, No. 933, §1; Acts 1999, No. 1048, §1, eff. July 9, 1999; Acts 2021, No. 220, §2.
LA Rev Stat § 51:1942 (2021)
2021 Louisiana Laws|Revised Statutes|Title 51 - Trade and Commerce|§1942. Manufacturer's duty to repair; nonconformity

RS 1942 - Manufacturer's duty to repair; nonconformity  If a new motor vehicle does not conform to an applicable express warranty, and the consumer reports the nonconformity to the manufacturer or any of its authorized motor vehicle dealers and makes the motor vehicle available for repair before the expiration of the warranty or during a period of one year following the date of the original delivery of the motor vehicle to a consumer, whichever is the earlier date, the manufacturer, its agent, or its authorized dealer shall make such repairs as are necessary to conform the vehicle to such warranty, notwithstanding the fact that such repairs are made after the expiration of such terms or such one-year period.  Acts 1984, No. 228, §1.