Louisiana Statutes
§ 39:99.7 — Corporate existence; dissolution
Louisiana § 39:99.7
JurisdictionLouisiana
Title 39Procurement and Contract
This text of Louisiana § 39:99.7 (Corporate existence; dissolution) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
La. Stat. Ann. § 39:99.7 (2026).
Text
The corporation shall have perpetual existence; provided, however, the board shall dissolve and terminate the existence of the corporation no later than two years after the date of final payment of all outstanding bonds and the payments or satisfaction of all other outstanding obligations and liabilities of the corporation, except to the extent necessary to remain in existence, and only for such additional time, as shall be necessary to fulfill any outstanding covenants or agreements with holders or other parties made in accordance with the provisions of this Subpart. Upon dissolution of the corporation, title to all assets and properties of the corporation shall vest in and become the property of the state of Louisiana and shall be deposited in and credited to the Millennium Trust, and th
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Legislative History
Acts 2001, No. 1145, §1.
Nearby Sections
15
§ 39:99.1
§ 39:99.1§ 39:99.10
Bankruptcy§ 39:99.12
Sale of tobacco assets§ 39:99.14
Issuance of bonds of the corporation§ 39:99.16
Ancillary contracts and swaps§ 39:99.17
Bonds exempt from taxation§ 39:99.19
Pledge and agreement§ 39:99.2
Legislative findings and intent§ 39:99.20
Construction and effect§ 39:99.26
§ 39:99.26Cite This Page — Counsel Stack
Bluebook (online)
Louisiana § 39:99.7, Counsel Stack Legal Research, https://law.counselstack.com/statute/la/39%3A99.7.