2011 Louisiana Laws
Revised Statutes
TITLE 12 — Corporations and associations
RS 12:130 — Definitions
PART XIII. DISSENTING SHAREHOLDERS' RIGHTS,
FAIR PRICE PROTECTION, AND CONTROL
SHARE ACQUISITION
§130. Definitions
(1) "Intentional misconduct" shall mean the intentional conduct of any person which occurs during the safeguard period and which has the effect of deleting, depleting or otherwise diminishing the assets being held in trust by any safeguarded entity in a manner that is adverse to any interested person as defined by R.S. 12:130(3).
(2) "Interested person" shall mean any member, participant, regular or disability retiree, beneficiary, or creditor of any safeguarded entity.
(3) "Safeguard period" shall mean the twenty-four month period immediately following any merger, consolidation, or any other change in majority voting ownership of a corporation covered by this Chapter.
(4) "Safeguarded entity" shall mean any pension plan, retirement system, or any other fund that inures to the benefit of the employees of a corporation covered under this Chapter.
Acts 1991, No. 914, §1, eff. July 23, 1991.
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