Louisiana Revised Statutes 39:1800.34 – Excess earnings
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Terms Used In Louisiana Revised Statutes 39:1800.34
- Bonds: means bonds, notes, or any other evidence of indebtedness issued by the corporation. See Louisiana Revised Statutes 39:1800.22
- 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 public nonprofit corporation authorized to be formed by this Chapter, or any corporation succeeding to the principal functions thereof or to which the powers conferred upon the corporation by this Chapter shall be given by law. See Louisiana Revised Statutes 39:1800.22
Any net earnings of the corporation beyond that necessary for retirement of any bonds issued by the corporation or to implement the purposes of this Chapter shall inure to the benefit only of the state of Louisiana.
Acts 2010, No. 556, §1.