§ 51:293.1 — Transfer of right to designate and use a name for stadium facility; conditions

Louisiana § 51:293.1

• Jurisdiction: Louisiana
• Title 51: Trade and Commerce

Text

A. The Louisiana Stadium and Exposition District is authorized to sell or transfer the right to designate and use an alternative name to refer to the Louisiana Superdome, including the rights to those trademarks, service marks, and trade names associated with the Louisiana Superdome as provided in R.S. 51:293.
B. Any agreement which transfers the right to designate and use a name to refer to the stadium facility designated as the Louisiana Superdome constructed by the Louisiana Stadium and Exposition District shall provide that all royalty and other payments in consideration for such right be paid to the entity which holds a National Football League franchise and leases the stadium facility. In the event the entity which holds a National Football League franchise provides notice to the league, or to the Louisiana Stadium and Exposition District of its intent to relocate the franchise, or enters into any agreement with any other entity to relocate the franchise from the city of New Orleans, or terminates its lease of the stadium facility, all subsequent monies payable from royalties and other payments under such agreement shall revert to the Louisiana Stadium and Exposition District. Any such agreement shall provide that it shall be approved by the Joint Legislative Committee on the Budget before it becomes effective.

Legislative History

Acts 2001, No. 1215, §1, eff. July 2, 2001.