SECTION I. SHORT TITLE

1. This bill may be cited as “Latomése Economic Act of Freedom”. This bill may be cited under the acronym “LEAF” or “L.E.A.F.”

SECTION II. Latomé Economic Trade Organization

1. The Latomé Economic Trade Organization (LETO) is hereby established
2. LETO shall possess perpetual succession and may:
   1. Enter contracts.
   2. Own, lease, purchase, and dispose of property.
   3. Establish subsidiaries.
   4. Operate domestic and foreign commercial offices.
   5. Sue and be sued in accordance with the laws of Latomé.
3. LETO will function as a State-Owned worker cooperative
   1. Ownership shall remain permanently vested in the Government of Latomé. However due to currently bot limitations ownership of the business shall be held by to Director-General who shall server as Chief Executive Office, Ludwig Von Frelandsen will server until other wise designated by an act of law.
   2. LETO shall have every citizen of Latomé employed on record, they have the freedom to work for and earn income from the cooperative or not to if they so wish.
   3. Develop domestic commercial partnerships.
   4. Promote economic self-sufficiency,
   5. Operate in strategic industries
   6. Pay dividends to the citizens of Latomé as designated by the Director-General & other officers.
   7. The Director-General Shall
      1. Serve as Chief Executive Officer
      2. Supervise Management & Operations
      3. Approve investments
      4. Adopt budgets
      5. Establish internal-policy
      6. Ensure compliance with the law on every level

SECTION III. State Oversight

1. The Grand Commonwealth of Latomé shall exercise oversight through;
   1. Independent audits, reviews, & inspections,
   2. Public financial reporting
   3. The Governor may appoint 3 independent Executive Auditors who shall serve under the Director-General to ensure they’re held accountable by being transparent with The Government. If in a state of emergency by a recommendation of ⅔ of the Executive Auditors the Governor may temporarily suspend the Director-General, after which the Executive Auditors will fulfill the duties until a new Director-General is appointed. Executive Auditors shall serve a term of 4 weeks.

SECTION IV. Enactment

1. After passage by the peer and signed by the Governor this act shall immediately go into place.
2. A one time initial investment of 1 million kramers will be given to the cooperative from the discretionary funds.