Louisiana Revised Statutes 27:223 – Powers and obligations of corporation’s president
Terms Used In Louisiana Revised Statutes 27:223
- Board: means the board of directors of the corporation. See Louisiana Revised Statutes 27:205
- Casino operating contract: means a contract let or bid by the corporation, in accordance with the provisions of this Chapter, authorizing a casino operator to conduct casino gaming operations at the official gaming establishment for the benefit of the state and the casino gaming operator. See Louisiana Revised Statutes 27:205
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: means the Louisiana Economic Development and Gaming Corporation, which except as specifically provided in this Chapter shall be a special corporation operated for a public purpose, the ownership interest of which is vested in the state. See Louisiana Revised Statutes 27:205
- 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.
- Gaming operator: means a person licensed by the corporation or authorized by contract with the corporation to conduct gaming operations or gaming activities in accordance with the provisions of this Chapter. See Louisiana Revised Statutes 27:205
- License: means an authorization issued to a person by or in the name of the corporation to engage in or assist gaming operations or activities regulated by this Chapter. See Louisiana Revised Statutes 27:205
- Major procurement: means the purchase or acquisition of any item, product, or service in the amount of one hundred thousand dollars or more. See Louisiana Revised Statutes 27:205
- member: means a member of the board of directors of the corporation. See Louisiana Revised Statutes 27:205
- Person: means any individual, partnership, association, joint stock association or trust, corporation, or other business entity whether incorporated or not. See Louisiana Revised Statutes 27:205
- President: means the president of the corporation. See Louisiana Revised Statutes 27:205
- Security: means the protection of information that would or could provide an unfair advantage to any individual involved in the operation of the casino gaming; protection and preservation of the integrity of casino gaming games and operations; as well as measures taken to prevent crimes against a gaming operator or the corporation. See Louisiana Revised Statutes 27:205
A.(1) The president, as chief executive officer of the corporation, shall direct and supervise all administrative and management activities in accordance with the provisions of this Chapter and any rules and regulations adopted by the board.
(2) He shall:
(a) Supervise and administer the operation of the corporation.
(b) Employ and direct such personnel as may be necessary to carry out the purposes of this Chapter and utilize such services, personnel, or facilities of the corporation as he may deem necessary. He may enter into personal service contracts in accordance with provisions of this Chapter or rules and regulations adopted by the board and compensate such consultants and technical assistants as may be required to carry out the provisions of this Chapter.
(c) Make available for inspection by the board or any member of the board, upon request, all books, records, files, and other information and documents of his office and to advise the board and recommend such administrative regulations and other matters he deems necessary and advisable to improve the operation and administration of the casino gaming.
(d) Attend meetings of the board.
(e) Enter into any major procurement authorized by the board with any person, firm, or corporation for the promotion and operation of casino gaming, or for the performance of any of the provisions of this Chapter.
(f) Enter into minor procurements as authorized by rule and regulation of the corporation for the furtherance of corporate activities.
(g) Beginning on March 1, 1993, and not later than thirty days before the beginning of each subsequent regular session of the legislature, submit the proposed annual budget of the corporation and projected net proceeds as previously approved by the board to the Joint Legislative Committee on the Budget for review and approval.
B. The president, with the approval of the board, may amend or modify the budget at any time in any manner deemed necessary for the proper operation of the corporation; however, each change shall be reported in writing to the board and to the Joint Legislative Committee on the Budget.
C. Following his approval by the governor and during his employment, the president shall reside in Louisiana.
D. The president may:
(1) Require bond from corporate employees with access to corporate funds or casino gaming funds, in such an amount as provided in the administrative regulations of the board.
(2) Require bond from other employees as he deems necessary.
(3) For good cause, suspend, revoke, or refuse to renew any contract, other than a casino operating contract, entered into or any license issued in accordance with the provisions of this Chapter or the administrative rules and regulations of the board.
(4) Upon specific or general approval of the board, conduct hearings and administer oaths to persons for the purpose of assuring the security or integrity of gaming operations, or to determine the qualifications or compliance by a gaming operator, employees, or licensees.
Acts 1992, No. 384, §1, eff. June 18, 1992. Redesignated from La. Rev. Stat. 4:623 by Acts 1996, 1st Ex. Sess., No. 7, §3, eff. May 1, 1996.