Louisiana Revised Statutes 51:2395.1 – Legal investments
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Terms Used In Louisiana Revised Statutes 51:2395.1
- BIDCO: means a business and industrial development company licensed under this Chapter. See Louisiana Revised Statutes 51:2388
- Control: means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a licensee or a small concern whether through the ownership of voting securities, by contract, or otherwise. See Louisiana Revised Statutes 51:2388
- person: includes a combination of two or more persons acting in concert. See Louisiana Revised Statutes 51:2388
Any parish, municipality, school board, special district, or political subdivision may legally invest any monies or funds belonging to them or within their control in a BIDCO established pursuant to this Chapter. Nothing contained in this Section with regard to legal investments shall be construed as relieving any person or persons of any duty of exercising reasonable care in selecting securities.
Acts 2007, No. 159, §2.