reglab/statecodes huggingface dataset:
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1031. Short title

RS 51:1031 - Short title
This Chapter shall be named and may be cited as the Louisiana Strategic Plan to Combat Poverty Act.
Acts 2002, 1st Ex. Sess., No. 44, §1, eff. April 18, 2002; Acts 2002, 1st Ex. Sess., No. 162, §3, eff. April 26, 2002.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1035. Strategic Plan to Combat Poverty; Northeast and targeted parishes

RS 51:1035 - Strategic Plan to Combat Poverty; Northeast and targeted parishes
A. The plan shall be available and applicable throughout the state. However, as a priority, the plan shall specifically target the following northeast and targeted parishes for inclusion within priority economic development zones by the secretary of the Department of Economic Development, as provided for in R.S. 36:104(A)(14) and for inclusion within priority health care zones by the secretary of health and hospitals, as provided for in R.S. 36:254(A)(12):
(1) Caldwell.
(2) Catahoula.
(3) Concordia.
(4) East Carroll.
(5) Franklin.
(6) Jackson.
(7) LaSalle.
(8) Lincoln.
(9) Madison.
(10) Morehouse.
(11) Ouachita.
(12) Richland.
(13) Tensas.
(14) Union.
(15) West Carroll.
(16) Webster.
(17) St. Charles.
(18) St. John.
(19) Vermilion.
(20) Acadia.
(21) Washington.
(22) Tangipahoa.
(23) Iberville.
(24) Assumption.
(25) Avoyelles.
(26) St. James.
(27) DeSoto.
(28) Terrebonne.
(29) Lafourche.
(30) Calcasieu.
(31) Cameron.
(32) West Bank of Ascension.
(33) East Feliciana.
(34) West Feliciana.
(35) St. Helena.
(36) East Baton Rouge.
B.(1) The plan shall require the secretaries of the Departments of Economic Development and Health and Hospitals to aid the parishes within the state's economically disadvantaged regions as provided for in Subsection A of this Section. The secretaries shall coordinate any and all assistance that may be obtained through state or federal anti-poverty, health care or economic development stimulus plans or programs.
(2) The secretary of the Department of Economic Development shall create priority economic development zones throughout the regions of the state, as provided for in Subsection A of this Section, and shall also specifically provide coordination and assistance to existing economic development districts, in particular, the Southside Economic Development District of the city of Monroe, the Downtown Economic Development District of the city of Monroe, and the Northeast Economic Development District.
(3) The secretary of the Louisiana Department of Health shall create priority health care zones throughout the state, taking into account federally designated health professional shortage areas and those parishes as provided for in Subsection A of this Section.
(4) The Louisiana Workforce Investment Council shall aid in the development and implementation of the Strategic Plan to Combat Poverty by coordinating and integrating a workforce development system.
(5)(a) The Louisiana Board of Regents shall aid in the development and implementation of the Strategic Plan to Combat Poverty in an attempt to reduce poverty by improving educational opportunities.
(b) Educational opportunities shall be provided by preparing each child academically and by providing caring, quality, and certified teachers in every classroom with adequate educational resources and by furnishing strong leadership.
Acts 2002, 1st Ex. Sess., No. 162, §3, eff. April 26, 2002; Acts 2008, No. 743, §7, eff. July 1, 2008.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1036. Criteria

RS 51:1036 - Criteria
In furtherance of the provisions of this Chapter, the secretaries of the Departments of Economic Development and Health and Hospitals shall give consideration to the following areas:
(1) Creation and expansion of enterprise zones as provided for in R.S. 51:1781 et seq.
(2) Inclusion or expansion of state or federal anti-poverty plans.
(3) Education and training; scholarships; access.
(4) Housing initiatives, including the creation of a weatherization and energy assistance fund.
(5) Health; rural and urban access.
(6) Transportation; completion of economic corridors.
(7) Small business assistance.
Acts 2002, 1st Ex. Sess., No. 162, §3, eff. April 26, 2002.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1037. Duties of the departments; reports

RS 51:1037 - Duties of the departments; reports
A. The secretaries of the Departments of Economic Development and Health and Hospitals, as provided for in R.S. 36:104(A)(14) and R.S. 36:254(A)(12)(c), respectively, shall submit an annual report to the Senate and House agriculture, forestry, aquaculture and rural development committees, the Senate Committee on Commerce, Consumer Protection and International Affairs, the House Committee on Commerce and the Senate and House health and welfare committees detailing actions taken by the department in furtherance of the provisions of this Chapter.
B. The Louisiana Workforce Investment Council shall submit an annual report to the Senate and House labor and industrial relations committees detailing actions taken by the commission in furtherance of the provisions of this Chapter.
C. The Louisiana Board of Regents shall submit an annual report to the Senate and House education committees detailing actions taken by the board in furtherance of the provisions of this Chapter.
D. The Department of Economic Development, Louisiana Department of Health, Louisiana Workforce Investment Council, and Louisiana Board of Regents shall coordinate their work with the Department of Children and Family Services and ensure that the Department of Children and Family Services receives copies of all reports submitted to the legislative committees.
Acts 2002, 1st Ex. Sess., No. 162, §3, eff. April 26, 2002; Acts 2003, No. 183, §8; Acts 2005, No. 404, §1; Acts 2008, No. 743, §7, eff. July 1, 2008.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1041. Strategic plan to combat poverty; renewal of communities; criterion; implementation

RS 51:1041 - Strategic plan to combat poverty; renewal of communities; criterion; implementation
A. The plan shall be a coordinated attempt to address the economic needs of the state's economically disadvantaged citizens whose concerns have not been addressed through the enactment of the Community Renewal Tax Relief Act of 2000.
B. The plan's participants shall consist of the several parishes of the state which possess a census tract which includes a poverty rate of twenty percent or higher and an unemployment rate of eight and four-tenths percent or higher, according to statistical data published by the United States Bureau of the Census for the 1990 federal decennial census. Such parishes shall be entitled to the same economic incentives as provided by the state in its application for renewal communities.
C. The governor's Office of Rural Development within the Office of Community Programs, shall extend to all census tracts or parishes meeting the standard provided for in Subsection B of this Section, all economic incentives as provided by the state in its application for renewal communities.
D. The Departments of Social Services, Health and Hospitals, Labor, Economic Development, Transportation and Development and Education shall provide information relative to the development of a strategic plan to combat poverty and shall direct such information to the governor's Office of Rural Development.
E. The director of the office of rural development shall submit an annual report to the Senate Commerce, Consumer Protection, and International Affairs Committee and to the House Commerce Committee detailing actions taken by the office in furtherance of the provisions of this Chapter.
Acts 2002, 1st Ex. Sess., No. 162, §3, eff. April 26, 2002; Acts 2003, No. 183, §8.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1045.1. Legislative findings

RS 51:1045.1 - Legislative findings
The legislature finds that poverty is one of the greatest enemies of human dignity and undermines the general welfare of the people of Louisiana. It destroys the liberty our ancestors fought so hard to preserve, a fight that continues today. The legislature continues to promote the health, safety, education, and welfare of the people of Louisiana by enacting this Part to combat poverty.
Acts 2005, No. 404, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1045.2. Solutions to poverty initiative; coordination

RS 51:1045.2 - Solutions to poverty initiative; coordination
A. The Department of Children and Family Services shall be in charge of coordinating the overall development and implementation of the Governor's Solutions to Poverty Plan. The head of each of the following departments, offices and commissions shall select a coordinator from within the administration of each department, office or commission to work together to formulate plans and propose legislation to implement the recommended solutions:
(1) Department of Insurance.
(2) Louisiana Workforce Commission.
(3) Department of Revenue.
(4) Louisiana Student Financial Assistance Commission and the office of student financial assistance.
(5) Louisiana Workforce Investment Council.
B. The coordinators selected in accordance with Subsection A of this Section shall, beginning September 1, 2005, coordinate the efforts of the departments, offices and commissions they represent in planning to implement the solutions recommended by the Governor's Summit on Solutions to Poverty and listed in R.S. 51:1045.3.
Acts 2005, No. 404, §1; Acts 2008, No. 743, §7, eff. July 1, 2008.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1045.3. Solutions to poverty initiative; implementation

RS 51:1045.3 - Solutions to poverty initiative; implementation
A. The departments, offices and commissions listed in R.S. 51:1045.2 shall plan to implement through feasibility studies, in those parishes listed in R.S. 51:1035(A), the solutions recommended by the Governor's Summit on Solutions to Poverty as provided in this Section. The implementation plan and feasibility studies shall be coordinated through the Department of Children and Family Services.
B.(1) The Louisiana Student Financial Assistance Commission and the office of student financial assistance shall conduct a feasibility study on the following:
(a) A plan to allow the exchange of community service for college tuition.
(b) A plan for income-based student loan repayment.
(2) The commission shall report the results of its study and any proposed legislation required to implement proposals to the Senate Committee on Education and the House Committee on Education, separately or meeting jointly, not later than February 1, 2006.
C. The Louisiana Workforce Commission and the Louisiana Workforce Investment Council shall conduct a feasibility study on expanding the application of Incumbent Worker Training Funds. The department and commission shall report the results of its study and any proposed legislation required to implement proposals to the Senate Committee on Labor and Industrial Relations and the House Committee on Labor and Industrial Relations, separately or meeting jointly, not later than February 1, 2006.
D. The Department of Revenue shall conduct a feasibility study on requiring businesses that receive state corporate tax credits and benefits to provide health insurance and other employee benefits. The department shall report the results of its study and any proposed legislation required to implement proposals to the Joint Legislative Committee on the Budget and the Senate Committee on Revenue and Fiscal Affairs and the House Committee on Ways and Means, separately or meeting jointly, not later than February 1, 2006.
E. The Department of Insurance shall conduct a feasibility study on prohibiting new forms of insurance red-lining. The department shall report the results of its study and any proposed legislation required to implement proposals to the Senate Committee on Insurance and the House Committee on Insurance, separately or meeting jointly, not later than February 1, 2006.
Acts 2005, No. 404, §1; Acts 2008, No. 743, §7, eff. July 1, 2008.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1051. Alliance; purpose; entry; effectiveness

RS 51:1051 - Alliance; purpose; entry; effectiveness
A. The Mississippi, Alabama, Louisiana and Texas Supercommittee, to be known as MALTS, is hereby enacted into the law of and entered into by the state of Louisiana to be formed with Alabama, Mississippi and Texas. The supercommittee shall become effective when enacted into law by all member states and when recognized by Congress.
B. The purpose of the supercommittee is to promote, encourage, and cooperate in restoring and revitalizing the areas affected by hurricanes Katrina and Rita.
Acts 2006, No. 817, §1, eff. July 5, 2006.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1052. Cooperative endeavors involving the state

RS 51:1052 - Cooperative endeavors involving the state
The governor, on behalf of Louisiana, is authorized to enter into cooperative endeavor agreements with Alabama, Mississippi, and Texas for the public purpose of restoring and revitalizing the state. However, prior to the governor exercising such authority, each such agreement shall have been presented to the legislature and shall have been approved by a majority of the elected members of each house of the legislature. Such approval shall be provided by the adoption of a concurrent resolution by such vote if approval is sought during a time the legislature is in legislative session. Such approval shall be provided by mail ballot using the same procedure for the distribution, return, and counting of such ballots as is provided for the ballots of the Interim Emergency Board if such approval is sought during a time when the legislature is not meeting in legislative session. Such cooperative endeavor agreements may provide for the investment, pledge, use, or deposit of state funds and the guarantee by the state of certain financial obligations, or may otherwise obligate the state financially to achieve the goals set forth herein. Such obligation shall be enforceable subject to the appropriation of requisite funds and upon a showing of reasonable expectations that the incurring of such obligation will result in restoring and revitalizing the state or will achieve other restoration and revitalizing goals that will equal or exceed the value of the obligations of the state required thereby. Notwithstanding any other provisions of law to the contrary, all cooperative endeavors sought to be entered into under the provisions of this Section shall receive approval by the Joint Legislative Committee on the Budget prior to their execution.
Acts 2006, No. 817, §1, eff. July 5, 2006.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1053. Finances

RS 51:1053 - Finances
The governor is authorized, on behalf of the state, to apply for and receive and accept from any federal agency, the state, or the political subdivisions of the state or from any source, public or private, grants, loans, or advances for or in the aid of the restoration and revitalization cooperative endeavor project or projects of MALTS.
Acts 2006, No. 817, §1, eff. July 5, 2006.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1054. Cooperation of departments, agencies, and officers; cooperation with the Louisiana Recovery Authority

RS 51:1054 - Cooperation of departments, agencies, and officers; cooperation with the Louisiana Recovery Authority
A. The departments, agencies, and officers of this state and its subdivisions are hereby authorized to cooperate in the furtherance of any of the activities pursuant to the MALTS.
B. The Mississippi, Alabama, Louisiana and Texas Supercommittee shall operate in concert with and with full recognition of the role, scope, and mission of the Louisiana Recovery Authority and shall cooperate with such authority in all regards.
Acts 2006, No. 817, §1, eff. July 5, 2006.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1056. Legislative findings; declaration of purpose

RS 51:1056 - Legislative findings; declaration of purpose
A.(1) The legislature finds that poverty is one of the greatest enemies of human dignity and the family unit and undermines the general welfare of the people of Louisiana and significant portions of the state suffer from the effects of poverty.
(2) The legislature further finds that the particular attention of state government could benefit families in poverty with a coordinated and well-managed plan provided by the departments of the state dedicated to empowering these families.
(3) It is declared that the effective administration and coordination of efforts to families in poverty is the responsibility of state government.
B. In order to meet these needs, the legislature hereby authorizes the creation of the Empowering Families to Live Well Louisiana Council and implementation plan, hereinafter referred to in this Chapter as the "plan".
Acts 2018, No. 581, §1, eff. May 31, 2018.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1058. Live Well Louisiana Fund

RS 51:1058 - Live Well Louisiana Fund
A. There is hereby created in the state treasury, as a special fund, the Live Well Louisiana Fund, hereinafter referred to as the "fund".
B.(1) The source of monies deposited into the fund shall be any monies appropriated annually by the legislature, including federal funds, any public or private donations, gifts, or grants from individuals, corporations, nonprofit organizations, or other business entities which may be made to the fund, and any other monies which may be provided by law.
(2) Monies in the fund shall be invested in the same manner as monies in the state general fund and interest earned on investment of monies in the fund shall be credited to the state general fund. Unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund.
C. Subject to an annual appropriation by the legislature, monies in the fund shall be used as directed by the council solely to fund grants and projects which will address the goals and objectives of reducing poverty and promoting well-being in the state.
Acts 2018, No. 581, §1, eff. May 31, 2018.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1101. Definitions

RS 51:1101 - Definitions
As used in this Chapter, the following words and phrases, unless the text otherwise clearly indicates, shall have the following meanings:
(1) "Corporation" means a Louisiana business development corporation created under this Chapter.
(2) "Persons" includes individuals, firms, partnerships, corporations, trusts, associations and insurance companies.
(3) "Business" includes any commercial type activity whether conducted by an individual, firm, partnership, corporation, association or insurance company, provided such commercial type activity is located and doing business within the state of Louisiana.
Acts 1962, No. 434, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1102. Authorization to incorporate; number of incorporations

RS 51:1102 - Authorization to incorporate; number of incorporations
Fifteen or more persons, a majority of whom are residents of or domiciled in the state of Louisiana, who desire to create a business development corporation or corporations under the provisions of this Chapter for the purpose of promoting, developing and advancing the prosperity and economic welfare of the state of Louisiana and, to that end, to exercise powers and privileges hereinafter provided, may be incorporated upon compliance with the provisions of Chapter 1 of Title 12 of the Louisiana Revised Statutes of 1950 and upon compliance with the provisions of this Chapter.
Acts 1962, No. 434, §2.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1103. Articles of incorporation

RS 51:1103 - Articles of incorporation
Each corporation formed under this Chapter shall prepare and file articles of incorporation setting forth, in addition to the requirements of the provisions of Chapter 1 of Title 12 of the Louisiana Revised Statutes of 1950, the following:
(1) The name of the corporation, which shall include the words "Louisiana Business Development Corporation."
(2) The location of the principal office of the corporation, which shall not prohibit the corporation from maintaining offices in such other places within the state as may be fixed by the board of directors of the corporation.
(3) The purpose or purposes for which the corporation is founded, which shall include the following:
"The purposes of the corporation shall be to promote, stimulate, develop and advance the business prosperity and economic welfare of the state of Louisiana and its citizens; to encourage and assist through loans, investments or other business transactions, in the localities or locations of new business or industry in this state and to rehabilitate and assist existing business or industry; and so to stimulate and assist in the expansion of all kinds of business activity which will tend to promote the business development and maintain the economic stability of this state, provide maximum opportunities for employment, encourage thrift, and to improve the standard of living of the citizens of this state; to cooperate fully and act in conjunction with the Department of Economic Development of the state of Louisiana; and to similarly cooperate and act in conjunction with other organizations, public or private, in the promotion and advancement of industrial, commercial, agricultural and recreational developments in this state; and to provide financing for the promotion, development and conduct of all kinds of business activity in this state except the business of lending money to a business whose primary business is to lend money for a profit."
Acts 1962, No. 434, §3.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1104. Corporate powers

RS 51:1104 - Corporate powers
In furtherance of the purposes of corporations formed under the provisions of this Chapter, the powers conferred on business corporations by the provisions of Chapter 1 of Title 12 of the Louisiana Revised Statutes of 1950, shall apply to any corporation organized hereunder except to the extent that any of such provisions are in conflict with the express provisions of this Chapter.
Acts 1962, No. 434, §4.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1105. Approval by Board of Commerce and Industry

RS 51:1105 - Approval by Board of Commerce and Industry
Before the certificate of incorporation of any corporation organized pursuant to this Chapter shall become effective and before the charter for said corporation may be issued by the secretary of state, the said certificate or articles of incorporation for said corporation shall be approved by a majority vote of the board of commerce and industry of the state of Louisiana.
Acts 1962, No. 434, §5.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1106. Failure to commence to do business

RS 51:1106 - Failure to commence to do business
If a corporation organized pursuant to this Chapter fails to commence to do business within three years from the effective date of the approval of its articles of incorporation or the granting of its charter by the secretary of state, whichever occurs earlier, then the said charter shall become null and void.
Acts 1962, No. 434, §6.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1121. §§1121 to 1128 Expired June 30, 1993, pursuant to Acts 1990, No. 851, §3..

RS 51:1121 - §§1121 to 1128 Expired June 30, 1993, pursuant to Acts 1990, No. 851, §3..
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1131. §§1131 to 1133 Repealed by Acts 1988, No. 888, §7, eff. July 21, 1988.

RS 51:1131 - §§1131 to 1133 Repealed by Acts 1988, No. 888, §7, eff. July 21, 1988.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1142. Purpose

RS 51:1142 - Purpose
A. The purpose of this Chapter is to improve the dissemination of information regarding informal investment opportunities to potential investors and entrepreneurs, and thereby stimulate the growth of small businesses in Louisiana.
B. Consistent with the purpose stated in Subsection A, the Department of Economic Development is directed to establish, from funds appropriated to or otherwise available to the department, the Venture Capital Network as a clearinghouse for information on informal risk capital investment opportunities in the fifty thousand dollar to five hundred thousand dollar range in Louisiana.
Acts 1987, No. 449, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1143. Department of Economic Development; duties and functions

RS 51:1143 - Department of Economic Development; duties and functions
The department shall:
(1) Enter into service contracts on a competitive bid basis with public and private agencies, institutions, organizations, and individuals for the purpose of establishing and operating the Venture Capital Network.
(2) Receive and approve contract proposals for the purpose of establishing the Venture Capital Network.
(3) Solicit the support and contributions of public and private agencies, organizations, institutions, and individuals.
(4) Accept and administer contributions for the purpose of operating the Venture Capital Network.
(5) Advertise and promote the Venture Capital Network.
Acts 1987, No. 449, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1144. Venture Capital Network; duties and functions

RS 51:1144 - Venture Capital Network; duties and functions
The Venture Capital Network shall:
(1) Solicit, compile, profile, and maintain current information describing opportunities for risk capital investment in new or emerging business ventures.
(2) Identify active informal investors and profile their distinguishing investment objectives.
(3) Provide, for a reasonable fee, a timely, confidential, and objective referral system serving both entrepreneurs and investors.
(4) Maintain statistics on the operation of the Venture Capital Network, including the number of profile entrepreneurs and investors, referrals, and referrals resulting in investment.
Acts 1987, No. 449, §1.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1145. Limitations

RS 51:1145 - 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.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1153. Proceedings to incorporate

RS 51:1153 - 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.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1154. Articles of incorporation

RS 51:1154 - 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.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1155. Amendment to articles

RS 51:1155 - 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.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1156. Board of directors

RS 51:1156 - 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.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1157. Corporate powers

RS 51:1157 - 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.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1157.1. Approval by State Bond Commission

RS 51:1157.1 - 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.}}
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1157.2. Preference in awarding contracts; labor

RS 51:1157.2 - 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.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1157.3. Rapides Parish industrial development board; bond issuance prohibited

RS 51:1157.3 - 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.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1158.1. Contesting bonds; peremption

RS 51:1158.1 - 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.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1159. Security for bonds

RS 51:1159 - 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.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1160. Exemption from taxation; classification of bonds

RS 51:1160 - 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.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1161. Municipality or parish not liable

RS 51:1161 - 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.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1162. Earnings of the corporation

RS 51:1162 - 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.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1163. Dissolution of corporation and vesting of title in municipality or parish

RS 51:1163 - 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.
2023 Louisiana Laws › Revised Statutes › Title 51 - Trade and Commerce › §51:1164. Recordation of documents without cost

RS 51:1164 - 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.