2006 Louisiana Laws - RS 3:445.10 — Termination of authority

§445.10.  Termination of authority

The Louisiana Crawfish Market Development Authority shall terminate on June 30, 1989.  Upon the termination of the authority, the State Market Commission created under R.S. 3:401 shall assume all of the obligations of the authority with respect to guarantees of loans; any notes or other certificates of indebtedness which are or may be outstanding; and any other pledge or encumbrance of any kind executed by said authority in furtherance of the purposes of this Part, provided that the Louisiana Crawfish Market Development Fund created herein shall be transferred to and shall be under the authority and control of the State Market Commission on and after July 1, 1989, and any funds remaining in said fund on July 1, 1989, shall be kept available for payment and discharge of any obligations outstanding against the authority until such time as all obligations of the authority are liquidated. On and after July 1, 1989, the State Market Commission shall be responsible for administration of and jurisdiction over the Louisiana Crawfish Market Development Fund until such time as all obligations of the state have been satisfied, at which time the State Market Commission shall cease to exercise jurisdiction over the fund.

Acts 1985, No. 880, §1, eff. July 23, 1985; Acts 1989, No. 662, §1, eff. June 30, 1989.