La. Admin. Code tit. 19 § III-517
Current through Register Vol. 50, No. 9, September 20, 2024
Section III-517 - Change in Minority Ownership/ControlA. Vendors shall notify OMBE immediately in writing in the event of any changes in ownership, control or operations which might impact continued eligibility of the vendor to participate as a minority-owned business. Failure to do so may result in immediate suspension of certification or decertification of the vendor and dissolution of any set-aside contracts that may have been received during the period of the change. Failure to report a change in minority ownership which results in ineligibility of the business will result in a fine of not less than $1,000. If the business has continued to operate as a minority-owned business and has continued to participate inappropriately in the minority set-aside program, a fine of not less than $5,000 and immediate decertification shall result.La. Admin. Code tit. 19, § III-517
Promulgated by the Office of the Governor, Division of Administration, Office of Minority Business Enterprises, LR 11:344 (April 1985).AUTHORITY NOTE: Promulgated in accordance with R.S. 39:1951-1969 and R.S. 39:1981-1991.