Louisiana Revised Statutes 40:600.72 – The legislature finds that:
Terms Used In Louisiana Revised Statutes 40:600.72
- 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.
The legislature finds that:
(1) Hundreds of thousands of Louisiana residents were displaced by Hurricanes Katrina and Rita.
(2) Hurricanes Katrina and Rita destroyed thousands of residential housing units in Louisiana, left thousands of residential housing units substantially damaged in areas that must be repopulated to restore the economic base of those areas, and created an unprecedented housing shortage for both homeowners and renters throughout the state.
(3) Displaced persons need the assistance of knowledgeable professionals to develop suitable housing strategies for their primary residences. This assistance can best be provided by nonprofit organizations that have been certified by the Louisiana Housing Corporation. These certified nonprofit organizations will be sustainable community based entities acting as consumer advocates and evolving over time to meet the needs of our citizens.
Acts 2007, No. 383, §1, eff. July 10, 2007; Acts 2011, No. 408, §5(B), eff. July 5, 2011.
NOTE: Pursuant to Acts 2007, No. 383, §3, the provisions of this Section ceased to be effective on July 1, 2010.