§ 12:951 Terms defined
§ 12:952 Incorporators; articles of incorporation; approval
§ 12:953 Powers
§ 12:954 Acquisition and disposition of securities; evidences of indebtedness; stock; loans from members
§ 12:955 Applications for membership; loans to corporation
§ 12:956 Duration of membership; notice of withdrawal
§ 12:957 Powers of stockholders and members; voting
§ 12:958 Amendment of articles; certification of amendment
§ 12:959 Officers; board of directors; responsibility for losses
§ 12:960 Retention of earned surplus
§ 12:961 Deposits
§ 12:962 Annual audit
§ 12:963 Initial meeting of incorporators; quorum
§ 12:964 Duration of corporation
§ 12:965 Dissolution; distribution of assets
§ 12:966 Pledge of state credit prohibited
§ 12:967 State development company; federal definition
§ 12:968 Tax exemptions, credits and privileges applicable
§ 12:969 License fees
§ 12:970 Fiscal year
§ 12:971 Applicability of Louisiana business corporation law
§ 12:972 Savings clause

Terms Used In Louisiana Revised Statutes > Title 12 > Chapter 10 - Industrial or Economic Development Corporations

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Board of directors: means the board of directors of the corporation created under this Chapter. See Louisiana Revised Statutes 12:951
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: means a Louisiana industrial development corporation created under this Chapter. See Louisiana Revised Statutes 12:951
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Financial institution: means any banking corporation or trust company, savings and loan association, insurance company or related corporation, partnership, foundation, or other institution engaged primarily in lending or investing funds. See Louisiana Revised Statutes 12:951
  • Fraud: Intentional deception resulting in injury to another.
  • Loan limit: means , for any member, the maximum amount permitted to be outstanding at one time on loans made by such member to the corporation, as determined under the provisions of this Chapter. See Louisiana Revised Statutes 12:951
  • Member: means any financial institution authorized to do business within this state which shall undertake to lend money to a corporation created under this Chapter, upon its call, and in accordance with the provisions of this Chapter. See Louisiana Revised Statutes 12:951
  • Personal property: All property that is not real property.
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Quorum: The number of legislators that must be present to do business.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.