2006 Louisiana Laws - RS 12:505 — Disposition of assets

§505.  Disposition of assets

The net assets of the unincorporated nonprofit association shall be disposed of in the same manner as the net assets of a religious or charitable nonprofit corporation, as set forth in R.S. 12:249.  Preference shall be accorded to state or local chapters, branches, or lodges of the same association, and then to associations or nonprofit corporations which were affiliated with the dissolved association, unless the articles or bylaws of the association expressly authorize some other disposition of its assets upon dissolution.  

Renumbered from R.S.1950, §12:405 by Acts 1968, No. 105, §3, eff. Jan. 1, 1969; Acts 1985, No. 907, §1.  

{{NOTE:  REPEALED BY ACTS 1985, NO. 270, §1; HOWEVER, SUPERCEDED AND REENACTED BY ACTS 1985, NO. 907, §2.}}