Louisiana Revised Statutes 51:2322 – Definitions
Terms Used In Louisiana Revised Statutes 51:2322
- 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.
- Corporation: means the Louisiana Economic Development Corporation. See Louisiana Revised Statutes 51:2322
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Program: means the Louisiana Small Business Incubator Program. See Louisiana Revised Statutes 51:2322
- Small business incubator: means a multi-tenanted facility which is characterized by shared business services, equipment, space, and access to on-premises business consultants for tenants and which is operated by a private nonprofit or public entity. See Louisiana Revised Statutes 51:2322
As used in this Part, the following terms shall have the meanings specified in this Section:
(1) “Applicant” means a private nonprofit or public entity located in this state.
(2) “Corporation” means the Louisiana Economic Development Corporation.
(3) “Program” means the Louisiana Small Business Incubator Program.
(4) “Small business incubator” means a multi-tenanted facility which is characterized by shared business services, equipment, space, and access to on-premises business consultants for tenants and which is operated by a private nonprofit or public entity.
(5) “Tenant” means a sole proprietorship, partnership, corporation, or limited liability partnership or company which operates within a small business incubator.
Acts 1995, No. 180, §1; Acts 1995, No. 276, §1, eff. July 1, 1995.