Louisiana § RS 47:8016 - Development by corporations; surplus profits
Full text of Louisiana Louisiana Civil Code § RS 47:8016 — Development by corporations; surplus profits, with citation guidance and answers to common questions.
§ RS 47:8016. Development by corporations; surplus profits
A. Notwithstanding R.S. 47:8025, but consistent therewith, a corporation may, itself, or through the use of one or more subsidiary corporations, or through partnerships or joint ventures, as permitted in R.S. 47:8009, develop, construct, operate or maintain any facilities, structures, and appurtenances. However, the corporation shall not engage in any such activities unless or until the board of directors of the corporation, after review of all available information and data, determines that it would not be economically feasible or practical for such development, construction, operation or maintenance to be undertaken by private enterprise acting alone.
B. Any profits derived from the developmental activities of a corporation shall be applied by its board of directors to meet the needs, goals and objectives of the tax increment community, including, but not limited to the development of programs designed to meet social objectives, the development of amenities for the residents of the tax increment development area and for such related purposes as the board of directors shall determine.
C. The board of directors of a corporation shall from time to time review the financial condition of any tax increment project and determine if there are surplus profits available for distribution by the corporation to the parish or municipality. In the event that the board of directors determines that there are surplus profits available for distribution to the parish or municipality, it shall so certify to the governing body and immediately transfer such surplus profits to the treasury of the parish or municipality. Upon such certification, the governing body, by ordinance or resolution, shall determine how and for what purposes the surplus profits shall be expended.
D. Subsections B and C of this Section shall be subject to any agreement with noteholders, bondholders, guarantors or others interested in any evidence of indebtedness of a corporation.
Acts 1988, No. 996, §1.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 47:8016
What does Louisiana Civil Code § RS 47:8016 cover?
Section RS 47:8016 ("Development by corporations; surplus profits") is part of the Louisiana Civil Code, the codified statutory law of Louisiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Louisiana § RS 47:8016?
A common citation format is "Louisiana Civil Code § RS 47:8016" (Louisiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Louisiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Louisiana official source linked on this page or consult a licensed Louisiana attorney.
How does Louisiana § RS 47:8016 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Louisiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Louisiana.