§ 40:600.89 — Organization of the corporation

Louisiana § 40:600.89

• Jurisdiction: Louisiana
• Title 40: Public Health and Safety

Text

§600.89. Organization of the corporation
A. The Louisiana Housing Corporation shall be governed by a board of directors
composed of the following members:
(1) One member shall be the state treasurer or his designee. Notwithstanding the
provisions of R.S. 49:307.1, the treasurer may name any person as his designee to this board.
(2) Eight members shall be appointed by the governor, two of whom shall be at-large
appointments. All members appointed by the governor shall meet all of the following
criteria:
(a) Each shall be a resident of the state.
(b) Each shall have at least five years of experience in one or more of the following
fields:
(i) Banking or bonds.
(ii) Residential or multi-family construction.
(iii) Real estate.
(iv) Affordable housing development.
(v) Nonprofit residential development.
(vi) Programs of the Department of Housing and Urban Development or any
successor agency.
(c) Not more than one member appointed pursuant to this Paragraph shall be a
resident of a single congressional district, except for the at-large members who may be
selected from the state at large.
(d) One shall either be a consumer of or an advocate for affordable housing.
(e) The eight members appointed by the governor shall be diverse and representative
of the state's population as near as practicable, including with respect to ethnicity, and shall
each be submitted to the Senate for confirmation.
(3) Four additional members shall be appointed as follows:
(a) Two persons appointed by the president of the Senate, one of whom shall be
appointed from a parish having a population of less than seventy-five thousand persons
according to the latest federal decennial census or a municipality having a population less
than fifteen thousand persons according to the latest federal decennial census. The two
members appointed pursuant to this Subparagraph shall serve at the pleasure of the president
of the Senate.
(b) Two persons appointed by the speaker of the House of Representatives, one of
whom shall be appointed from a parish having a population of less than seventy-five
thousand persons according to the latest federal decennial census or a municipality having
a population less than fifteen thousand persons according to the latest federal decennial
census. The two members appointed pursuant to this Subparagraph shall serve at the
pleasure of the speaker of the House of Representatives.
B. In the event of a vacancy in the office of any member of the board of directors,
by death, resignation, removal, or otherwise, a replacement shall be appointed in the same
manner as the person whose position is now vacant was originally appointed and, if
appointed by the governor, shall serve for the remainder of the unexpired term.
C.(1) Each appointed member of the board of directors shall hold office until his
successor has been appointed and has qualified.
(2)(a) Any appointed member shall be eligible for reappointment.
(b) Notwithstanding the provisions of Subparagraph (a) of this Paragraph, no
member appointed by the governor shall serve more than three consecutive terms. Any such
member who serves three consecutive terms shall be eligible for reappointment no earlier
than one year after leaving office.
(3) Any member of the board of directors of the corporation may be removed from
office by the appointing authority for incompetence, malfeasance, misconduct, or willful
neglect of duty, after reasonable notice and a public hearing, unless the notice and hearing
are expressly waived in writing.
(4) Every member of the board of directors of the corporation shall, before entering
office, take the oath of office required of public officials to administer the duties of his office
faithfully and impartially, and a record of such oath shall be filed with the secretary of state.
(5) Board members appointed by the governor shall serve staggered four-year terms
as provided in this Section. Two shall serve initial terms of two years each, two shall serve
initial terms of three years each, and two shall serve initial terms of four years each, as
determined by lot at the first meeting of the board.
(6) Board members may receive compensation of fifty dollars per diem for their
services and may be eligible for reimbursement of reasonable travel expenses incurred in
connection with the discharge of their duties only as provided by majority vote of the board.
D.(1) Each member of the board of directors shall file financial disclosure statements
pursuant to R.S. 42:1124.2.1.
(2) The executive director shall file financial disclosure statements pursuant to R.S.
42:1124.2.
(3) If the state treasurer does not appoint a designee but serves as a member, he shall
not file the disclosure statement required by this Subsection but rather shall file disclosure
statements as otherwise required by law for the state treasurer.

Legislative History

Acts 2011, No. 408, §1, eff. July 5, 2011; Acts 2021, No. 302, §1.