Louisiana Revised Statutes 33:9022 – Definitions
Terms Used In Louisiana Revised Statutes 33:9022
- 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.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
The following terms, whenever used or referred to in this Chapter, shall have the following meaning unless a different meaning is otherwise clearly indicated in the context:
(1) “Cooperative development” means any method of cooperative development or redevelopment between and among the state, its local governmental subdivisions, political corporations, public benefit corporations, the United States or its agencies, or any public or private association, corporation or individual. Said methods shall include any number of joint development agreements such as condominiums and cooperative ownership limited partnerships and investment syndicates.
(2) “Cooperative endeavors” means any form of economic development assistance between and among the state, its local governmental subdivisions, political corporations, public benefit corporations, the United States or its agencies, or any public or private association, corporation, or individual. The term “cooperative endeavors” shall include but not be limited to cooperative financing, cooperative development, or any other form of cooperative economic development activity.
(3) “Cooperative financing” means any method of financing an economic development project between and among the state, its local governmental subdivisions, political corporations, public benefit corporations, the United States or its agencies, or any public or private association, corporation, or individual. Said methods shall include loans, loan guarantees, land write-downs, grants, lease guarantees or any form of financial subsidy or incentive.
(4) “Local clearinghouse” means the state’s regional planning districts.
(5) “Local governmental subdivision” means any parish, municipality, port commission, port harbor and terminal district, or any economic development district or authority created as a political subdivision of the state as defined in the Constitution of Louisiana.
(6) “State clearinghouse” means the Department of Economic Development.
Added by Acts 1978, No. 617, §1. Acts 1990, No. 1082, §1; Acts 1992, No. 211, §1, eff. June 10, 1992; Acts 2002, No. 78, §2, eff. June 25, 2002; Acts 2014, No. 267, §1; Acts 2020, No. 240, §1, see Act.
NOTE: See Acts 2020, No. 240, §2, regarding effectiveness.