Road Home Legislation Excerpts

From New Orleans Wiki

See also: Citizens' Road Home Action Team

From Act No. 654 (establishing a nonprofit corporation to address the needs of the Road Home Program). All emphasis is added.

[edit] 600.36. Powers of the Road Home Corporation

A. In addition to the powers granted it by the general Nonprofit Corporation Law, Title 12 of the Louisiana Revised Statues of 1950, as amended, the Road Home Corporation shall have the power to undertake any project, in adherence to the policy guidelines for rebuilding, recovery, and land use management set forth by the Louisiana Recovery Authority, to provide for the financing thereof as administered by the office of community development, and in connection therewith:

(2) To finance, own, lease as lessee or lessor, sell, exchange, donate, or otherwise hold or transfer a property interest in housing stock damaged by Hurricane Katrina or Hurricane Rita, including contracts for the acquisition, purchase, construction, disposition, sale, exchange, donation, renovation, improvement, or expansion of such housing stock property interest by the Road Home Corporation.

(6) To enter into any and all agreements or contracts, execute any and all instruments, and do and perform any and all acts or things necessary, convenient, or desirable for the purpose of the Road Home Corporation or to carry out any power expressly given in this Chapter.

[edit] 600.37. Excess Earnings

Any net earnings of the Road Home Corporation beyond that necessary for the Road Home Corporation to implement the purposes of this Chapter shall inure to the benefit of The Road Home Program.

[edit] 600.38. Dissolution of the Road Home Corporation; Title to property to vest in successor

Upon dissolution of the Road Home Corporation, title to all property owned by the Road Home Corporation shall vest in the successor corporation created by the legislature, if any. If no such successor corporation is so created, title to such property shall vest in the state of Louisiana.