La. Admin. Code tit. 19 § II-511

Current through Register Vol. 50, No. 11, November 20, 2024

Section II-511 - Termination of Mentor-Protege Agreement

A. Termination for Cause. The state may terminate the mentor-protege agreement for cause based upon the failure of the mentor or protege to comply with the terms and/or conditions of the agreement, provided that the state shall give the mentor or protege written notice specifying the failure. If within 30 days after receipt of such notice, the mentor or protege shall not have either corrected such failure or, in a case which cannot be corrected in 30 days, begun in good faith to correct said failure and thereafter proceeded diligently to complete such correction, then the state may, at its option, place the mentor or protege in default and the agreement shall terminate on the date specified in such notice. The mentor or protege may exercise any rights available to it under Louisiana law to terminate for cause upon the failure of the state to comply with the terms and conditions of the agreement; provided that the mentor or protege shall give the state written notice specifying the state's failure and a reasonable opportunity for the state to cure the defect.

B. Termination for Convenience. Either party may terminate the agreement at any time by giving 30 days written notice. The mentor shall be entitled to payment for deliverables in progress, to the extent work has been performed satisfactorily. The state may amend and/or terminate the agreement due to budgetary reductions or changes in funding priorities by the state upon giving 30 days written notice.

La. Admin. Code tit. 19, § II-511

Promulgated by the Department of Economic Development, Office of the Secretary, Division of Small and Emerging Business Development, LR 26:1574 (August 2000), amended by the Department of Economic Development, Office of Business Development, LR 29:546 (April 2003), LR 30:757 (April 2004), LR 34:604 (April 2008).

AUTHORITY NOTE: Promulgated in accordance with R.S. 51: 942