LAC 13:I.567 – Sale or Transfer of Exempted Manufacturing Establishment

A. In the event a named contract holder should sell or otherwise dispose of all property covered by a contract of exemption, to an unrelated third party, the purchaser of the said plant or property may, within three months of the date of such act of sale, apply to the board for a transfer of the contract. A transfer fee shall be filed with a request to transfer the contract, in accordance with LED’s fee schedule, as defined in R.S. 36:104. The board shall consider all such applications for transfer of contracts of exemption strictly on the merits of the application for such transfer. No such transfer shall in any way impair or amend any of the provisions of the contract so transferred other than to change the name of the contracting applicant. Failure to request or apply for a transfer within the stipulated time period shall constitute a violation of the contract.
B. In the event a named contract holder should sell or otherwise dispose of some but not all property covered by a contract of exemption, to a named affiliate listed on Schedule I to the ITEP contract, no board approval or transfer fee shall be required.

AUTHORITY NOTE: Promulgated in accordance with Article VII, Part 2, Section 21(F) of the Louisiana Constitution of 1974.

HISTORICAL NOTE: Promulgated by the Board of Commerce and Industry and Louisiana Economic Development, LR 51:373 (March 2025).