1. A. Neither the state, the corporation, nor the treasurer shall be liable to any lending institution in any manner for payment of the principal or interest on any loan to an eligible small business under §7301. Any delay in payments or default on the part of a small business shall not in any manner affect the deposit agreement between the eligible lending institution and the treasurer.

   Part VII. Economic Development Corporation

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 51:2312.

Historical Note

HISTORICAL NOTE: Promulgated by Department of Economic Development, Economic Development Corporation, LR 25:414 (March 1999).