§ 39:1991 — Change in ownership

Louisiana § 39:1991

• Jurisdiction: Louisiana
• Title 39: Procurement and Contract

Text

NOTE: This provision of law was included in the Unconstitutional Statutes
Biennial Report to the Legislature, dated March 14, 2016 .
§1991. Change in ownership
A change in ownership resulting in less than fifty-one percent
ownership shall be reported to the division, and the enterprise shall
immediately be decertified. Failure to report shall result in a fine of not less
than one thousand dollars, and, if the enterprise continues to operate as a
minority-owned business or as a women's business enterprise, failure to report
shall result in a fine of not less than five thousand dollars and immediate
decertification.

Legislative History

Acts 1984, No. 653, §1, eff. July 1, 1984; Acts 1992, No. 797, §2, eff. July 1, 1992.