Louisiana Administrative Code
Title 7 - AGRICULTURE AND ANIMALS
Part V - Advertising, Marketing and Processing
Chapter 23 - Market Commission- Acquisition of Facilities
Section V-2307 - Contents of Application
Universal Citation: LA Admin Code V-2307
Current through Register Vol. 50, No. 3, March 20, 2024
A. Every applicant seeking to rent or purchase machinery, equipment or a facility from the commission shall submit the following information to the commission:
1. name and address of applicant including
all principals by name and address;
2. a statement of the nature and amount of
the interest held by each principal;
3. sworn statement of the relationship, if
any, of any of the principals with any state official and/or with any employee
of the Department of Agriculture and Forestry;
4. location and legal description of all
property to be offered as security;
5. personal financial statements of every
principal of the applicant unless the commission's staff finds that the
applicant is a publicly traded company or other business enterprise whose
financial statements are sufficient to show the solvency of the
applicant;
6. an appraisal by a
qualified appraiser of the property being offered as security or information
sufficient to show the approximate value of the property;
7. a listing of all equipment and
furnishings, both movable and immovable by destination, with the expected life
of the equipment and furnishings, if equipment and furnishings will be offered
as part of the security;
8.
evidence of satisfactory interim and long term financing, where
applicable;
9. a business
plan/feasibility sturdy for the proposed enterprise which includes a three year
projected cash flow statement, together with an explanation of how the
enterprise meets the criteria set out in 2303.B and 2305.B;
10. written authorization for the commission
or its staff to perform any credit check(s) which the commission or staff may
deem advisable;
11. a designation
by the applicant, if any, of what records, writings, accounts, or other
documents and information that pertain to the business of the applicant and are
in their nature confidential;
12.
any other documentation or information the commission or its staff deems
necessary for a determination as to whether to approve or deny the
application.
AUTHORITY NOTE: Promulgated in accordance with R.S. 3:405.
Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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