La. Admin. Code tit. 42 § IX-901

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

Section IX-901 - Statement of Authority

A. The Louisiana Legislature has expressed its desire to establish a casino in the state of Louisiana, and, to do so the Louisiana Legislature has adopted the Louisiana Economic Development and Gaming Corporation Act, Louisiana Revised Statutes 4:601 et seq., (sometimes hereafter referred to as the Act). In adopting the Louisiana Economic Development and Gaming Corporation Act, the Louisiana Legislature acknowledged that the operation of a Casino is unique to state government and legislatively determined that the regulation of the casino should be undertaken by a separate, independent corporate entity and not an agency or political subdivision of the state of Louisiana. Consequently, pursuant to the Louisiana Economic Development and Gaming Corporation Act, the Louisiana Legislature created the Louisiana Economic Development and Gaming Corporation (the "corporation"), which is vested with broad powers to regulate the official gaming establishment casino and to oversee any and all games connected therewith. The Louisiana Economic Development and Gaming Corporation Act further detailed the governance and operation of the corporation by a board of directors (the "board") and a president (the "president") of the corporation. In accordance with the Louisiana Economic Development and Gaming Corporation Act, the board hereby adopts the following corporate articles setting forth certain matters appropriate to the operation of a corporation of the nature of the Louisiana Economic Development and Gaming Corporation.

La. Admin. Code tit. 42, § IX-901

Promulgated by the Louisiana Economic Development and Gaming Corporation, LR 19:1011 (August 1993).

AUTHORITY NOTE: Promulgated in accordance with R.S. 4:601 et seq.