TITLE 17. EDUCATION

CHAPTER 20-E. LOUISIANA OPPORTUNITY LOAN PROGRAM

17:3045.2      Louisiana Opportunity Loan Fund, creation

  A. There shall be established in the state treasury the Louisiana Opportunity Loan Fund, referred to herein as the "LAOP Loan Fund".

  B. Such funds as are made available for the Louisiana Opportunity Loan Program by donation from private sources shall be deposited immediately upon receipt into the state treasury. After compliance with the requirements of Article VII, Section 9(B) of the Constitution of Louisiana, relative to the Bond Security and Redemption Fund, and prior to being placed in the state general fund, all of the earnings on the investment of monies in the LAOP Loan Fund shall be credited to the LAOP Loan Fund. The monies in this fund shall be used solely as provided in R.S. 17:3045.3 as appropriated by the legislature.

Added by Acts 1991, No. 799, Sec. 1, eff. July 22, 1991. Amended by Acts 1991, 3rd Ex.Sess., No. 3, Sec. 1, eff. Aug. 5, 1991.