§ 46:1098.16 — Minority partner

Louisiana § 46:1098.16

• Jurisdiction: Louisiana
• Title 46: Public Welfare and Assistance

Text

§1098.16. Minority partner
Only in the event that Slidell Memorial Hospital should acquire a minority partner
with a share of less than fifty percent of the assets of the hospital, shall the board of
commissioners be empowered to allow representation of the minority partner on the board.
(1) By a two-thirds vote of the board of commissioners, the size of the board may be
increased by not more than two members in order to allow for representation of a minority
shareholder on the board.
(2) Such board members shall be appointed by the minority shareholder to serve
initial terms of one year and two years respectively.
(3) Subsequently, these appointees of the minority shareholder shall serve full
four-year terms.
(4) No other restrictions or qualifications shall apply to board members appointed
by a minority shareholder, except with regard to term limitations contained herein.

Legislative History

Acts 2020, No. 365, §1, eff. June 12, 2020.