Louisiana Revised Statutes 40:574 – Exception of contracts from requirements of appraisal; advertising and bidding
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Terms Used In Louisiana Revised Statutes 40:574
- Appraisal: A determination of property value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Any sale, lease, or other agreement provided for in La. Rev. Stat. 40:573 may be made by a state public body without appraisal, public notice, advertising, or public bidding.
Acts 1997, No. 1188, §1.