§2314.  Qualified state development company

A.  The corporation may establish a nonprofit corporation to qualify as a state development company to engage in cooperative endeavors with the federal government for the purposes of participating in loan programs authorized in 15 U.S.C. 695 et seq.

B.  The nonprofit corporation established pursuant to this Section may engage in cooperative endeavors with the federal government for the purposes of participating in any other federal loan program for which it may become eligible.

C.  The members of the board of directors for the Louisiana Economic Development Corporation may also serve as board members for the nonprofit corporation established pursuant to this Section.

Acts 1990, No. 210, §1, eff. July 2, 1990.