2012 Louisiana Laws
Revised Statutes
TITLE 12 — Corporations and associations
RS 12:172 — Penalties

§172. Penalties

A. A corporation which neglects or refuses to make and file the initial report prescribed in R.S. 12:25(A) or the annual report prescribed in R.S. 12:102(A), or to file a properly corrected report if the one first filed does not meet the requirements of said section, or to file its articles for record as prescribed in R.S. 12:25(D), within fifteen days after written request so to do is made by the Secretary of State, shall be under a penalty of fifty dollars, recoverable in a civil action by the Attorney General or the district attorney of the parish wherein the corporation has its registered office, for the use and benefit of the state, for every day the corporation neglects or refuses to make and file the report or to file its articles for record, as the case may be.

B. If any officer of a corporation neglects or refuses to mail or deliver to any shareholder, within fifteen days after receipt of a written request by the shareholder therefor, the report prescribed by R.S. 12:102(B), he shall be under a penalty of fifty dollars, recoverable by the shareholder, for every day such officer neglects or refuses to mail or deliver the report thereafter.

C. If any officer, director or agent of a corporation should violate any of the provisions of subsection A, B or C of R.S. 12:103, he shall be fined not more than five hundred dollars, or imprisoned for not more than six months, or both, for each violation. Any corporation which violates any of the provisions of subsection A, B or C of R.S. 12:103 shall be fined five hundred dollars and further fined ten dollars per day for each day it fails to maintain the prescribed records, up to a maximum of one thousand dollars. These fines shall be recovered in an action brought by the Attorney General or any other state official having need of these records to perform any duties imposed upon him by the laws of this state.

D. Any corporation, or any officer or agent thereof, which or who shall in bad faith refuse to permit the exercise of inspection rights as defined in, and limited by, R.S. 12:103, shall be liable to the shareholder or shareholders seeking to exercise such rights to the extent of the costs and expenses of any proceeding necessary to enforce such inspection rights, and for any other damages actually sustained by such shareholder or shareholders.

E. Any corporation, or officer, director or shareholder thereof, which or who attempts to exercise any corporate power, privilege or franchise after annulment, vacation or forfeiture of the corporation's articles and franchise pursuant to the provisions of R.S. 12:163, shall pay for each such attempt a penalty of not less than one hundred dollars nor more than one thousand dollars, recoverable in a civil action by the Secretary of State.

Acts 1968, No. 105, §1.