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2019 Louisiana Laws
Revised Statutes
Title 12 - Corporations and Associations
§1-603. Issued and outstanding shares
Universal Citation: LA Rev Stat § 12:1-603 (2019)
RS 1-603 - Issued and outstanding shares
A. A corporation may issue the number of shares of each class or series authorized by the articles of incorporation. Shares that are issued are outstanding shares until they are reacquired, redeemed, converted, or cancelled.
B. The reacquisition, redemption, or conversion of outstanding shares is subject to the limitations of Subsection C of this Section and to R.S. 12:1-640.
C. At all times that shares of the corporation are outstanding, one or more shares that together have unlimited voting rights and one or more shares that together are entitled to receive the net assets of the corporation upon dissolution must be outstanding.
Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
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