Section 42:1117.1 - Subterfuge to avoid complianceA. No public servant or other person shall transfer any thing of economic value or any asset, interest, or liability to any person or governmental entity for the purpose of circumventing any provision of this Chapter, unless such transfer is irrevocable. A transfer shall not be irrevocable if there exists any contract, letter, counter letter, trust, note, or any other legally enforceable agreement or authority which if exercised or enforced would require or authorize any asset, interest, or liability transferred by the public servant or other person to revert back to such public servant or other person.B.(1) The terms of a confidentiality agreement entered into between parties shall not be a transfer prohibited by this Section, provided that the confidentiality agreement is not entered into for purposes of circumventing the Code of Governmental Ethics.(2) The sale of property subject to owner financing shall not be a transfer prohibited by this Section.(3) A recorded bond for deed contract shall not be a transfer prohibited by this Section.La. Public Officers and Employees § 42:1117.1
Acts 2008, 1st Ex. Sess., No. 15, §1, eff. March 7, 2008.Acts 2008, 1st Ex. Sess., No. 15, §1, eff. 3/7/2008.