Louisiana Revised Statutes 51:2314 – Qualified state development company
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Terms Used In Louisiana Revised Statutes 51:2314
- Corporation: means the Louisiana Economic Development Corporation as established in Part II of this Chapter. See Louisiana Revised Statutes 51:2303
- 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.
- Program: means the Workforce Development and Training Program. See Louisiana Revised Statutes 51:2332
A. The corporation may establish a nonprofit corporation to qualify as a state development company to engage in cooperative endeavors with the federal government for the purposes of participating in loan programs authorized in 15 U.S.C. § 695 et seq.
B. The nonprofit corporation established pursuant to this Section may engage in cooperative endeavors with the federal government for the purposes of participating in any other federal loan program for which it may become eligible.
C. The members of the board of directors for the Louisiana Economic Development Corporation may also serve as board members for the nonprofit corporation established pursuant to this Section.
Acts 1990, No. 210, §1, eff. July 2, 1990.