Louisiana Revised Statutes 23:1414 – Annual report
Terms Used In Louisiana Revised Statutes 23:1414
- Board: means the board of directors of the corporation. See Louisiana Revised Statutes 23:1392
- 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 Workers' Compensation Corporation. See Louisiana Revised Statutes 23:1392
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
A. Within six months after the close of each fiscal year, the corporation shall present a report on its activities to the legislative auditor, the speaker of the House of Representatives, the president of the Senate, and the governor. This report shall include, but need not be limited to, the following information:
(1) The number of risks in the PRP program and the number of risks in the ARP program.
(2) A determination of whether or not the corporation is solvent and self-sufficient and if not, what remedial action the board will take to eliminate or prevent any deficit.
B. The annual report shall also contain specific findings and recommendations as to those factors that are contributing to any increase in premiums or deficits. The annual report shall also recommend any cost containment or efficiency measure to insure the proper operation of the corporation.
Acts 1991, No. 814, §1, eff. Nov. 20, 1991; Acts 1992, No. 374, §1.