Louisiana Revised Statutes 47:9005 – Corporation president; officers
Terms Used In Louisiana Revised Statutes 47:9005
- Board: means the board of directors of the Louisiana Lottery Corporation. See Louisiana Revised Statutes 47:9002
- Corporation: means the Louisiana Lottery Corporation. See Louisiana Revised Statutes 47:9002
- 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.
- Person: means any individual, corporation, partnership, unincorporated association, or other legal entity. See Louisiana Revised Statutes 47:9002
- President: means the president of the Louisiana Lottery Corporation, who shall also serve as chief executive officer of the corporation. See Louisiana Revised Statutes 47:9002
- Subtitle: means and includes all the Chapters in Subtitle II of this Title 47 and any other Title of the Louisiana Revised Statutes of 1950 except the provisions of Chapter 1 of Subtitle IV of Title 47 of the Louisiana Revised Statutes of 1950 and estate taxes for the assessment, collection, administration, and enforcement of taxes, fees, licenses, penalties, and interest due the state of Louisiana which have been delegated to the Department of Revenue. See Louisiana Revised Statutes 47:1501
A. The president of the corporation shall be appointed by the board subject to the approval of the governor. Should the governor refuse to confirm the appointment of the president, then the board shall submit another name. The person whose appointment was refused shall not be renamed for confirmation for a period of two years. The governor shall, within thirty days after the nomination of the president, either approve or reject the nomination. The president of the corporation shall manage the daily affairs of the corporation and shall have such powers and duties as specified by this Subtitle and by the board of directors. The president shall not be a member of the board. The president of the corporation shall serve at the pleasure of the board of directors.
B. The president shall employ a vice president and a secretary-treasurer with such duties as are assigned by the president. Such officers shall serve at the pleasure of the president.
C. The board shall set the salaries of the officers.
D. No officer or employee shall be a member of the board.
Acts 1990, No. 1045, §1, eff. Nov. 7, 1990.