Louisiana Revised Statutes 42:1117.1 – Subterfuge to avoid compliance
Terms Used In Louisiana Revised Statutes 42:1117.1
- Contract: A legal written agreement that becomes binding when signed.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Governmental entity: means the state or any political subdivision which employs the public employee or employed the former public employee or to which the elected official is elected, as the case may be. See Louisiana Revised Statutes 42:1102
- Person: means an individual or legal entity other than a governmental entity, or an agency thereof. See Louisiana Revised Statutes 42:1102
- Public servant: means a public employee or an elected official. See Louisiana Revised Statutes 42:1102
- Thing of economic value: means money or any other thing having economic value, except promotional items having no substantial resale value; pharmaceutical samples, medical devices, medical foods, and infant formulas in compliance with the Food, Drug, and Cosmetic Act, 21 U. See Louisiana Revised Statutes 42:1102
A. No public servant or other person shall transfer any thing of economic value or any asset, interest, or liability to any person or governmental entity for the purpose of circumventing any provision of this Chapter, unless such transfer is irrevocable. A transfer shall not be irrevocable if there exists any contract, letter, counter letter, trust, note, or any other legally enforceable agreement or authority which if exercised or enforced would require or authorize any asset, interest, or liability transferred by the public servant or other person to revert back to such public servant or other person.
B.(1) The terms of a confidentiality agreement entered into between parties shall not be a transfer prohibited by this Section, provided that the confidentiality agreement is not entered into for purposes of circumventing the Code of Governmental Ethics.
(2) The sale of property subject to owner financing shall not be a transfer prohibited by this Section.
(3) A recorded bond for deed contract shall not be a transfer prohibited by this Section.
Acts 2008, 1st Ex. Sess., No. 15, §1, eff. March 7, 2008.