§599.4. Establishment

            A. The governing body of a local government may establish a land bank authority in accordance with this Part, which shall be subject to the provisions of the Nonprofit Corporation Law, R.S. 12:201 et seq.

            B. Two or more local governments may elect to enter into an intergovernmental cooperation agreement to create a single land bank to act on behalf of the local governments.

            C. An ordinance adopted under this Section:

            (1) Is administrative in nature.

            (2) Is not subject to referendum.

            (3) In a parish that has a publicly elected parish executive or in a municipality that has a publicly elected chief executive or mayor, is subject to approval by the parish executive, chief executive, or mayor.

            D. An ordinance adopted under the provisions of this Part shall include all of the following:

            (1) The name of the authority, which shall be "Land Bank Authority of (name of the incorporating local government)".

            (2) The authority is formed under this Part.

            (3) The names, addresses, and terms of office of the initial members of the board.

            (4) The address of the principal office of the authority.

            (5) The purposes for which the authority is formed.

            (6) The powers of the authority, subject to the limitations of this Part.

            E.(1)(a) The chief executive or mayor of the incorporating local government, or any other official designated in the ordinance establishing an authority, shall execute and file the articles of incorporation in accordance with the provisions of the Nonprofit Corporation Law, R.S. 12:201 et seq., and pay applicable filing fees in accordance with R.S. 49:222, to the secretary of state.

            (b) An entity incorporated pursuant to this Part shall not be subject to the restrictions in R.S. 12:204(A).

            (2) When the articles of incorporation are filed in accordance with the requirements of this Section, the authority becomes a body politic and corporate and an instrumentality of the incorporating local government.

            (3) Filing of the articles of incorporation with the secretary of state is conclusive evidence of the formation of the authority.

            F.(1) By ordinance, the governing authority of the incorporating local government may seek to amend the articles of incorporation of an authority.

            (2) The proposed articles of amendment, passed by ordinance, may contain any provision that lawfully may be contained in articles of incorporation at the time of the amendment.

            (3) The governing authority shall take all steps to file the articles of amendment with the secretary of state.

            (4) The articles of amendment are effective as of the time the articles of amendment are filed with the secretary of state in accordance with the provisions of the Nonprofit Corporation Law, R.S. 12:201 et seq.

            G. Subject to this Part and any limitations imposed by law on the impairment of contracts, the incorporating local government, in its sole discretion, by ordinance may:

            (1) Set or change the structure, organization, procedures, programs, or activities of an authority.

            (2) Terminate the authority.

            (3) If one or more local governments engaged in an intergovernmental cooperation agreement decide not to terminate the authority, the authority may continue to operate if:

            (a) The name of the authority is revised to remove the local government that has decided to terminate its participation in the authority by withdrawal.

            (b) The withdrawing local government designates all property to remain with the authority.

            (i) On demand of a withdrawing local government that is a municipality, all property located wholly within the municipality shall be transferred to the municipality.

            (ii) On demand of a withdrawing local government that is a parish, all property located wholly within the parish and outside any municipality participating in the intergovernmental cooperation agreement shall be transferred to the parish.

            (iii) All obligations of the authority to the withdrawing local government and of the withdrawing local government to the authority are assumed by the withdrawing local government.

            (4) Notwithstanding the provisions of this Section, an entity incorporated pursuant to this Part shall be required to follow the provisions of the Nonprofit Corporation Law, R.S. 12:201 et seq., when amending its articles of incorporation and articles of amendment or electing to terminate its operations.

            H. On termination of the authority:

            (1) Title to all property of the authority shall be transferred to and shall vest in the incorporating local government.

            (2) All obligations of the authority shall be transferred to and assumed by the incorporating local government.

            Acts 2025, No. 443, §1.