Material change filing

Definition

A filing your own purchase triggers, where missing it can void the contracts you bought.

Why It Matters

This one is off the theme's axis and the reason is the finding. An MSP sells to businesses under private contracts, with no consumer statute over it and no client money in its hands, so unlike its five neighbors it takes nothing anybody can make it give back. What it does carry is Louisiana's registration of managed service and managed security providers serving a public body. Registration runs two years, a material change including a change of any ten percent owner is filed inside sixty days, and a public body's contract with an unregistered provider is null and void. A purchase is a material change, so the clock starts at closing. The register is not public except to a public body, so standing cannot be checked from outside the deal and has to be asked for inside it.