Terms Used In Louisiana Revised Statutes 39:99.28

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Corporation: means the Coastal Protection and Restoration Financing Corporation created pursuant to this Subpart. See Louisiana Revised Statutes 39:99.27
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.

The corporation is created as a special purpose, public corporate entity, an instrumentality independent of the state.  The corporation shall be a public corporate body, intended, created and empowered to effectuate only the purposes set forth in this Subpart, and shall have a legal existence, separate and distinct from the state of Louisiana.  The domicile of the corporation shall be East Baton Rouge Parish.  The corporation shall operate on a fiscal year basis commencing on July first and ending on June thirtieth of each year.

Acts 2007, No. 249, §1, eff. July 6, 2007.