RS 17:3045.3 Appropriation; procedure - Louisiana Statutes

§3045.3.  Appropriation; procedure

A.  The legislature shall appropriate all funds out of the LA-OP Loan Fund to the commission for the commission's use in making loans in addition to any appropriation to the commission from the state general fund for the purpose of making loans pursuant to this Chapter.

B.  The commission may administer and manage all money, including all interest made on loans pursuant to this Chapter and all principal repaid on loans that has been appropriated in whatever manner maximizes the amount of money available for LA-OP loans that is consistent with federal reinsurance requirements and state budget practices.

Acts 1991, No. 799, §1, eff. July 22, 1991; Acts 1991, 3rd E.S., No. 3, §1, eff. Aug. 5, 1991.