Deposits, Donations and Loans

Deposits, Donations and Loans



Donations, loans and deposits represent a pledge of state funds. The Louisiana Constitution under Article 7 Section 14 states:


§14. Donation, Loan, or Pledge of Public Credit

 

Section 14.(A) Prohibited Uses. Except as otherwise provided by this constitution, the funds, credit, property, or things of value of the state or of any political subdivision shall not be loaned, pledged, or donated to or for any person, association, or corporation, public or private.

 

University policy shall be that "no" funds or other property will be donated, loaned or pledged unless otherwise exempted by the constitution or other provision of the law.

 

The purchase of memberships in organizations, subscriptions to publications and registration fees are not deposits and may be processed provided documentation of costs are provided with the purchase requisition.

 

Click Louisiana Constitution Article 7 / Section 14.(A) to read full article/section.



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