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2021 Louisiana Laws
Revised Statutes
Title 12 - Corporations and Associations
CHAPTER 1. BUSINESS CORPORATION ACT
SUBPART B. FILING DOCUMENTS
- §1-120. Requirements for documents; extrinsic facts
- §1-121. Forms
- §1-122. Filing, service, and copying fees
- §1-123. Effective time and date of document
- §1-124. Correcting filed document
- §1-125. Filing duty of secretary of state
- §1-126. Appeal from secretary of state's refusal to file document
- §1-127. Evidentiary effect of copy of filed document
- §1-128. Certificate of existence and standing
- §1-129. Penalty for signing false document
SUBPART C. SECRETARY OF STATE
SUBPART D. DEFINITIONS
- §1-140. Definitions
- §1-141. Notices and other communications
- §1-142. Number of shareholders
- §1-143. Qualified director
- §1-144. Householding
PART 2. INCORPORATION
- §1-201. Incorporators
- §1-202. Articles of incorporation and signed consent by agent to appointment
- §1-203. Incorporation
- §1-204. Liability for preincorporation transactions
- §1-205. Organization of corporation
- §1-206. Bylaws
- §1-207. Emergency bylaws
PART 3. PURPOSES AND POWERS
PART 4. NAME
PART 5. OFFICE AND AGENT
- §1-501. Registered office and registered agent
- §1-502. Change of registered office or registered agent
- §1-503. Resignation of registered agent
- §1-504. Service on corporation
PART 6. SHARES AND DISTRIBUTIONS
SUBPART A. SHARES
- §1-601. Authorized shares
- §1-602. Terms of class or series determined by board of directors
- §1-603. Issued and outstanding shares
- §1-604. Fractional shares
SUBPART B. ISSUANCE OF SHARES
- §1-620. Subscription for shares before incorporation
- §1-621. Issuance of shares
- §1-622. Liability of shareholders
- §1-623. Share dividends
- §1-624. Share options
- §1-625. Form and content of certificates
- §1-626. Shares without certificates
- §1-627. Restriction on transfer of shares and other securities
- §1-628. Expense of issue
SUBPART C. SUBSEQUENT ACQUISITION OF SHARES BY SHAREHOLDERS AND CORPORATION
SUBPART D. DISTRIBUTIONS
PART 7. SHAREHOLDERS
SUBPART A. MEETINGS
- §1-701. Annual meeting
- §1-702. Special meeting
- §1-703. Court-ordered meeting
- §1-704. Action without meeting
- §1-705. Notice of meeting
- §1-706. Waiver of notice
- §1-707. Record date
- §1-708. Conduct of the meeting
- §1-709. Remote participation in annual and special meetings
SUBPART B. VOTING
- §1-720. Shareholders' list for meeting
- §1-721. Voting entitlement of shares
- §1-722. Proxies
- §1-723. Shares held by intermediaries and nominees
- §1-724. Corporation's acceptance of votes
- §1-725. Quorum and voting requirements for voting groups
- §1-726. Action by single and multiple voting groups
- §1-727. Greater quorum or voting requirements
- §1-728. Quorum and voting for directors; cumulative voting
- §1-729. Inspectors of election
SUBPART C. VOTING TRUSTS AND AGREEMENTS
SUBPART D. DERIVATIVE PROCEEDINGS
- §1-740. Subpart definitions
- §1-741. Standing
- §1-742. Demand
- §1-742.1. Petition in derivative proceeding
- §1-742.2. Jurisdiction over a director
- §1-742.3. Venue in derivative proceeding
- §1-743. Stay of proceedings
- §1-744. Dismissal
- §1-745. Discontinuance or settlement
- §1-746. Payment of expenses
- §1-747. Applicability to foreign corporations
SUBPART E. PROCEEDING TO APPOINT RECEIVER
PART 8. DIRECTORS AND OFFICERS
SUBPART A. BOARD OF DIRECTORS
- §1-801. Requirement for and functions of board of directors
- §1-802. Qualifications of directors
- §1-803. Number and election of directors
- §1-804. Election of directors by certain classes of shareholders
- §1-805. Terms of directors generally
- §1-806. Staggered terms for directors
- §1-807. Resignation of directors
- §1-808. Removal of directors by shareholders
- §1-809. [Reserved].
- §1-810. Vacancy on board
- §1-811. Compensation of directors
- §1-812. Director proxies
SUBPART B. MEETINGS AND ACTION OF THE BOARD
- §1-820. Meetings
- §1-821. Action without meeting
- §1-822. Notice of meeting
- §1-823. Waiver of notice
- §1-824. Quorum and voting
- §1-825. Committees
- §1-826. Submission of matters for shareholder vote
SUBPART C. DIRECTORS
- §1-830. Standards of conduct for directors
- §1-831. Standards of liability for directors
- §1-832. Protection against monetary liability
- §1-833. Directors' liability for unlawful distributions
SUBPART D. OFFICERS
- §1-840. Officers
- §1-841. Functions of officers
- §1-842. Standards of conduct for officers
- §1-843. Resignation and removal of officers
- §1-844. Contract rights of officers
SUBPART E. INDEMNIFICATION AND ADVANCE FOR EXPENSES
- §1-850. Subpart definitions
- §1-851. Permissible indemnification
- §1-852. Mandatory indemnification
- §1-853. Advance for expenses
- §1-854. Court-ordered indemnification and advance for expenses
- §1-855. Determination and authorization of indemnification
- §1-856. Indemnification of officers
- §1-857. Insurance
- §1-858. Variation by corporate action; application of Subpart
- §1-859. Exclusivity of Subpart
SUBPART F. DIRECTORS' CONFLICTING INTEREST TRANSACTIONS
- §1-860. Subpart definitions
- §1-861. Judicial action
- §1-862. Directors' action
- §1-863. Shareholders' action
SUBPART G. BUSINESS OPPORTUNITIES
PART 9. DOMESTICATION AND CONVERSION
SUBPART A. PRELIMINARY PROVISIONS
SUBPART B. DOMESTICATION
- §1-920. Domestication
- §1-921. Action on a plan of domestication
- §1-922. Articles of domestication
- §1-923. Surrender of charter upon domestication
- §1-924. Effect of domestication
- §1-925. Abandonment of a domestication
SUBPART C. NONPROFIT CONVERSION
- §1-930. Nonprofit conversion
- §1-931. Action on a plan of nonprofit conversion
- §1-932. Articles of nonprofit conversion
- §1-933. Surrender of charter upon foreign nonprofit conversion
- §1-934. Effect of nonprofit conversion
- §1-935. Abandonment of a nonprofit conversion
SUBPART D. FOREIGN NONPROFIT DOMESTICATION AND CONVERSION
- §1-940. Foreign nonprofit domestication and conversion
- §1-941. Articles of nonprofit domestication and conversion
- §1-942. Effect of foreign nonprofit domestication and conversion
- §1-943. Abandonment of a foreign nonprofit domestication and conversion
SUBPART E. ENTITY CONVERSION
- §1-950. Entity conversion authorized; definitions
- §1-951. Plan of entity conversion
- §1-952. Action on a plan of entity conversion
- §1-953. Articles of entity conversion
- §1-954. Surrender of charter upon conversion
- §1-955. Effect of entity conversion
- §1-956. Abandonment of an entity conversion
PART 10. AMENDMENT OF ARTICLES OF INCORPORATION AND BYLAWS
SUBPART A. AMENDMENT OF ARTICLES OF INCORPORATION
- §1-1001. Authority to amend
- §1-1002. Amendment before issuance of shares
- §1-1003. Amendment by board of directors and shareholders
- §1-1004. Voting on amendments by voting groups
- §1-1005. Amendment by board of directors
- §1-1006. Articles of amendment
- §1-1007. Restated articles of incorporation
- §1-1008. Amendment pursuant to reorganization
- §1-1009. Effect of amendment
SUBPART B. AMENDMENT OF BYLAWS
- §1-1020. Amendment by board of directors or shareholders
- §1-1021. Bylaw increasing quorum or voting requirement for directors
- §1-1022. Public corporation bylaw provisions relating to the election of directors
PART 11. MERGERS AND SHARE EXCHANGES
- §1-1101. Definitions
- §1-1102. Merger
- §1-1103. Share exchange
- §1-1104. Action on a plan of merger or share exchange
- §1-1105. Merger between parent and subsidiary or between subsidiaries
- §1-1106. Articles of merger or share exchange
- §1-1107. Effect of merger or share exchange
- §1-1108. Abandonment of a merger or share exchange
PART 12. DISPOSITION OF ASSETS
- §1-1201. Disposition of assets not requiring shareholder approval
- §1-1202. Shareholder approval of certain dispositions
PART 13. APPRAISAL RIGHTS
SUBPART A. RIGHT TO APPRAISAL AND PAYMENT FOR SHARES
- §1-1301. Definitions
- §1-1302. Right to appraisal
- §1-1303. Assertion of rights by nominees and beneficial shareholders
SUBPART B. PROCEDURE FOR EXERCISE OF APPRAISAL RIGHTS
- §1-1320. Notice of appraisal rights
- §1-1321. Notice of intent to demand appraisal and consequences of voting or consenting
- §1-1322. Appraisal notice and form
- §1-1323. Perfection of rights and right to withdraw
- §1-1324. Payment
- §1-1325. After-acquired shares
- §1-1326. Procedure if shareholder dissatisfied with payment or offer
SUBPART C. JUDICIAL APPRAISAL OF SHARES
SUBPART D. OTHER REMEDIES
PART 14. DISSOLUTION
SUBPART A. VOLUNTARY DISSOLUTION
- §1-1401. [Reserved.]
- §1-1402. Dissolution by board of directors and shareholders
- §1-1403. Articles of dissolution
- §1-1404. Revocation of dissolution
- §1-1405. Effect of dissolution
- §1-1406. Known claims against dissolved corporation
- §1-1407. Other claims against dissolved corporation
- §1-1408. Court proceedings
- §1-1409. Responsibility of the board of directors
- §1-1410. Certain sections in Subpart A applicable to all dissolved corporations
- §1-1411. §§1-1411 – 1-1429 [Reserved]
- §1-1412. §12:1-1412
- §1-1413. §12:1-1413 [Reserved]
- §1-1414. §12:1-1414 [Reserved]
- §1-1415. §12:1-1415 [Reserved]
- §1-1416. §12:1-1416 [Reserved]
- §1-1417. §12:1-1417 [Reserved]
- §1-1418. §12:1-1418 [Reserved]
- §1-1419. §12:1-1419 [Reserved]
- §1-1420. §12:1-1420 [Reserved]
- §1-1421. §12:1-1421 [Reserved]
- §1-1422. §12:1-1422 [Reserved]
- §1-1423. §12:1-1423 [Reserved]
- §1-1424. §12:1-1424 [Reserved]
- §1-1425. §12:1-1425 [Reserved]
- §1-1426. §12:1-1426 [Reserved]
- §1-1427. §12:1-1427 [Reserved]
- §1-1428. §12:1-1428 [Reserved]
- §1-1429. §12:1-1429 [Reserved]
SUBPART C. JUDICIAL DISSOLUTION
- §1-1430. Grounds for judicial dissolution
- §1-1431. Procedure for judicial dissolution
- §1-1432. Appointment of receiver or liquidator
- §1-1433. Judgment of dissolution
- §1-1434. Election to purchase in lieu of dissolution
- §1-1435. Oppressed shareholder's right to withdraw
- §1-1436. Judicial determination of fair value and payment terms for withdrawing shareholder's shares
- §1-1437. Stay of duplicative proceedings
- §1-1438. Conversion of oppression proceeding into court-supervised dissolution
SUBPART D. TERMINATION AND REINSTATEMENT
- §1-1440. Articles of termination
- §1-1441. Simplified termination procedure for certain corporations
- §1-1442. Administrative termination
- §1-1443. Effective date and effects of termination
- §1-1444. Reinstatement of terminated corporation
- §1-1445. Appointment of liquidator for terminated corporation
- §1-1446. PART 15. FOREIGN CORPORATIONS §§1-1446 - 1-1600 [Reserved.]
PART 16. RECORDS AND REPORTS
SUBPART A. RECORDS
- §1-1601. Corporate records
- §1-1602. Inspection of records by shareholders
- §1-1603. Scope of inspection right
- §1-1604. Court-ordered inspection
- §1-1605. Inspection of records by directors
- §1-1606. Exception to notice requirement
SUBPART B. REPORTS
- §1-1620. Financial statements for shareholders
- §1-1621. Annual report for secretary of state
- §1-1622. Reporting obligation of corporation that contracts with the state
PART 17. TRANSITION PROVISIONS
- §1-1701. Application to existing domestic corporations
- §1-1702. Limited applicability to foreign corporations
- §1-1703. Saving provisions
- §1-1704. [Reserved.]
- §1-1705. Transition rule for reinstatement of a corporation with a revoked charter
- §2. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §2.1. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §2.2. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
PART II. INCORPORATION
- §21. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §22. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §23. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §24. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §25. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §25.1. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §26. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §27. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §28. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §29. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
PART III. AMENDMENT AND RESTATEMENT OF ARTICLES
- §31. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §32. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §33. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §34. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §35. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
PART IV. CORPORATE POWERS
- §41. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §42. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
PART V. SHARES
- §51. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §52. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §53. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §54. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §55. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §56. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §57. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §58. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §59. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
PART VI. CAPITAL, SURPLUS, DIVIDENDS
- §61. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §62. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §63. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
PART VII. SHAREHOLDERS
- §71. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §72. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §73. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §74. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §75. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §76. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §77. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §78. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §79. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
PART VIII. DIRECTORS AND OFFICERS
- §81. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §82. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §83. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §84. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
PART IX. LIABILITY OF DIRECTORS, OFFICERS, SHAREHOLDERS AND SUBSCRIBERS
- §91. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §92. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §93. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §94. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §95. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §96. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
PART X. REPORTS, RECORDS, REGISTERED OFFICE AND AGENTS
- §101. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §102. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §103. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §104. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
PART XI. MERGERS, CONSOLIDATIONS, AND SHARE EXCHANGES
- §111. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §112. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §113. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §114. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §115. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §116. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §117. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
PART XII. TRANSFERS OF CORPORATE ASSETS
PART XIII. DISSENTING SHAREHOLDERS' RIGHTS, FAIR PRICE PROTECTION, AND CONTROL
- §130. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §130.1. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §130.2. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §131. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §132. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §133. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §134. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §135. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §136. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §137. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §138. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §139. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §140. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §140.1. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §140.2. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §140.3. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
PART XIII-A. FOREIGN CORPORATIONS
- §140.11. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §140.12. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §140.13. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §140.14. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §140.15. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §140.16. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §140.17. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
PART XIV. DISSOLUTION
- §141. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §142. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §142.1. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §143. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §144. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §145. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §146. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §147. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §148. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §149. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
PART XV. RECEIVERS
- §151. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §152. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
PART XVI. OTHER PROCEEDINGS
- §161. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §162. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §163. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §164. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §165. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
PART XVII. GENERAL PROVISIONS
- §171. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §172. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §173. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §174. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §175. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §176. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §177. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §178. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
CHAPTER 2. NONPROFIT CORPORATION LAW
- §201. Terms defined
- §202. Incorporation
- §202.1. Limitation on formation; exceptions
- §203. Articles of incorporation
- §204. Corporate name
- §204.1. Corporate name restrictions
- §204.2. Naming of certain nonprofit corporations
- §205. Filing and recording articles; issuance and effect of certificate of incorporation; commencement of corporate existence
- §205.1. Annual report to secretary of state
- §206. Effect of filing or recording papers
- §207. General powers
- §208. Defense of ultra vires
- §209. Corporations not required to be non-stock corporations
- §210. Members, shareholders and certificates
- §211. Subscriptions for shares
- §212. Shareholders' preemptive rights
- §213. Issuance of shares; consideration
- §214. Reservation of shares
- §215. Convertible securities and stock-purchase rights
- §216. Redemption, purchase and cancellation of shares
- §217. Classes and qualifications of membership
- §218. Membership dues; assessments
- §219. Liability of subscribers and members
- §220. Reduction of membership below stated number
- §221. Capital, surplus, allocation thereto, and increases and reductions thereof
- §222. Bylaws
- §223. Corporate records and reports
- §224. Board of directors
- §225. Officers and agents
- §226. Relation of directors and officers to corporation and members; liability of officers and directors
- §227. Indemnification of officers, directors, employees and agents; insurance
- §228. Interested directors; quorum
- §229. Meetings of members
- §230. Notice of meetings of members
- §231. Quorum of members
- §232. Voting of members
- §233. Unanimous consent
- §234. Fixing record date
- §235. Voting trusts
- §236. Registered office and agent
- §237. Amendment of articles generally
- §237.1. Amendment of articles; special provision
- §238. Articles of amendment; contents; filing
- §239. Special amendment provisions
- §239.1. Certificate of correction
- §240. Reclassification of stock
- §241. Restatement of articles
- §242. Authorization for mergers and consolidations
- §243. Merger or consolidation procedure
- §244. Consolidation; articles of incorporation
- §245. When merger or consolidation effective
- §246. Effect of merger or consolidation
- §247. Voluntary transfer of assets
- §247.1. Change of jurisdiction of incorporation
- §248. Rights of a shareholder dissenting from certain corporate actions
- §249. Dissolution voluntary or involuntary, out of court or under judicial supervision; effect of proceeding for dissolution
- §250. Voluntary proceedings for dissolution; authorization; appointment of liquidators
- §250.1. Dissolution by affidavit
- §251. Involuntary proceedings for dissolution; grounds; institution; appointment of liquidator
- §252. Qualifications of liquidator; filling vacancies in the office of liquidator
- §253. Dissolution proceedings out of court; procedure; powers of liquidator
- §254. Dissolution proceedings under judicial supervision; procedure; powers of liquidator
- §255. Claims against corporation in liquidation; peremption
- §256. Certificate of dissolution; assets omitted from liquidation; post-dissolution proceedings
- §257. Termination of proceedings for dissolution
- §258. Appointment of receiver
- §259. Receivership procedure; powers of receiver
- §260. Compromise arrangements; reorganizations; approval and effect
- §261. Reorganization under Act of Congress
- §262. Action by the state to annul, vacate or forfeit corporate franchise; suspension
- §262.1. Failure to file annual reports; revocation and reinstatement of articles; limitation on authority to do business with the state
- §263. Fees
- §264. Penalties
- §265. Application to existing corporations
- §266. Scope of Chapter
- §267. Effect of invalidity of part of Chapter; severability
- §268. Reservation of power
- §269. Short title
CHAPTER 3. FOREIGN CORPORATION LAW
- §301. Condition precedent to transacting business
- §302. Acts not considered transacting business
- §303. Name of authorized foreign corporation
- §304. Application for certificate of authority
- §305. Issuance of certificate of authority
- §306. Effect of certificate of authority
- §307. Amended certificate of authority
- §307.1. Certificate of correction by a foreign corporation
- §308. Registered agent; registered office; principal business establishment; keeping of records by foreign corporation
- §309. Annual report
- §310. Change of corporate name
- §311. Merger, consolidation, or dissolution
- §312. Withdrawal
- §312.1. Termination of withdrawal proceedings
- §313. Revocation of certificate of authority
- §314. Transacting business without authority
- §314.1. Authority to investigate; penalty
- §315. Penalties
- §316. Fees
- §317. Appointment of receiver
- §318. Pre-filing procedure
- §319. Definitions
- §320. Application to authorized corporations
- §321. Short title
CHAPTER 4. SPECIAL CORPORATIONS
- §401. Organization authorized
- §402. Terms defined
- §403. Powers
- §404. Name
- §405. Incorporators
- §406. Articles of incorporation
- §407. Bylaws
- §408. Members
- §409. Board of directors; elections
- §410. Districts
- §411. Officers
- §412. Amendment of articles of incorporation
- §413. Consolidation
- §414. Merger
- §415. Effect of consolidation or merger
- §416. Conversion of existing corporations
- §417. Initiative by members
- §417.1. Corporate records; disclosure; right of members to inspect
- §418. Dissolution
- §419. Filing of articles
- §420. Refunds to members
- §421. Disposition of property
- §422. Non-liability of members for debts of cooperative
- §423. Recordation of mortgages and conveyances
- §424. Waiver of notice
- §425. Taxation
- §426. Jurisdiction of the Public Service Commission
- §427. Securities law exemption
- §428. Acquisition of servitudes
- §429. Construction
- §430. Short title
- §430.1. Cooperatives; provision of broadband services; servitudes
- §430.2. Reporting on broadband high-speed internet access
PART I-A. PARTICULAR ELECTRIC COOPERATIVES
- §431. Repealed by Acts 2014, No. 132, §1, eff. May 22, 2014.
- §431.1. Repealed by Acts 2014, No. 132, §1, eff. May 22, 2014.
PART II. SEA FOOD MARKETING ASSOCIATIONS
- §441. Sea Food Marketing Associations authorized
- §442. Purpose of legislation
- §443. Terms defined
- §444. Persons who may organize
- §445. Activities in which association may engage
- §446. Powers of association
- §447. Members
- §448. Articles of association
- §449. Amendments to articles of association
- §450. Bylaws
- §451. General and special meetings; how called
- §452. Board of directors
- §453. Election of officers
- §454. Certificates of membership and shares of stock
- §455. Removal of officer or director
- §456. Referendum
- §457. Marketing contract
- §458. Breach of contract or of bylaws
- §459. Acquisitions of business, etc., and payment therefor
- §460. Conflicting laws not to apply
- §461. Limitation of use of term "co-operative"
- §462. Interest in other corporations or associations
- §463. Contracts and agreements with other associations
- §464. Existent associations may adopt the provisions of this Part
- §465. How similar foreign associations may carry on business in Louisiana
- §466. Breach of marketing contract and knowingly spreading false reports concerning finances and management
- §467. Not in restraint of trade
- §468. Repealed by Acts 1982, No. 526, §3, Aug. 11, 1982
- §469. Filing fees
- §470. Application of Chapter 1
- §471. Short title
PART III. ORTHODOX CHURCHES
- §481. Application of Part
- §482. Permission to incorporate
- §483. Certificate of incorporation; form and contents
PART IV. REAL ESTATE INVESTMENT TRUSTS
- §491. Real estate investment trusts authorized and defined
- §492. Qualification and restrictions and procedural rights
- §493. Name of Part
PART V. COOPERATIVE HOUSING CORPORATIONS
- §499.1. Short title; purpose
- §499.2. Application of chapter; amendment of articles of incorporation to comply with chapter
- §499.3. Definitions
- §499.4. Application of laws; conflict of laws
- §499.5. Articles of organization
- §499.6. Name
- §499.7. Power to make, amend, or repeal by-laws
- §499.8. Articles or by-laws
- §499.9. Net savings; apportionment
- §499.10. Termination of proprietary leases
- §499.11. Loans
- §499.12. Tax exemptions
- §499.13. Homestead exemption
CHAPTER 5. LOUISIANA UNINCORPORATED
- §501. Definitions
- §502. Supplementary general principles of law
- §503. Territorial application
- §504. Immovable and movable property; unincorporated association as legatee or beneficiary
- §505. Statement of authority as to immovable property
- §506. Liability in tort and contract
- §507. Capacity to assert and defend; standing
- §508. Effect of judgment or order
- §509. Disposition of movable property of inactive unincorporated association
- §510. Appointment of agent to receive service of process
- §511. Claim not abated by change
- §512. Dissolution of unincorporated association
- §513. Involuntary proceedings for dissolution and appointment of liquidator
- §514. Grounds for involuntary dissolution
- §515. Continuation of purpose
- §516. Disposition of assets
- §517. Short title
- §518. Uniformity of application and construction
- §519. Severability clause
- §520. Savings clause
CHAPTER 6. TRANSFER OF STOCK
- §601. Person in whose name certificate stands regarded as legal owner
- §602. Authority to transfer stock
- §603. Transfer to heirs or legatees of deceased stockholder; proof required
PART II. UNIFORM STOCK TRANSFER LAW
PART III. CLEARING CORPORATIONS
CHAPTER 7. FINANCING CORPORATE ACTIVITIES
- §701. Borrowing money; issuance of bonds; security
- §702. Mortgages executed by public utility corporations and cable television companies; description of property; recordation; effect
- §703. Rate of interest paid by corporations
- §704. Repealed by Acts 2001, No. 128, §18, eff. July 1, 2001.
CHAPTER 8. PROFESSIONAL LAW CORPORATIONS
- §801. Terms defined
- §802. Professional corporations
- §803. The corporate name
- §804. Corporate authority
- §805. Shares
- §806. Certificate of stock
- §807. Liability of incorporators, subscribers, shareholders, directors, officers and agents
- §808. Action of shareholders
- §809. Shareholders' agreements
- §810. Directors
- §811. Officers and agents
- §812. Merger and consolidation
- §813. Dissolution
- §814. Certification of foreign professional law corporation
- §815. Regulation by Supreme Court
- §816. Short title
CHAPTER 9. PROFESSIONAL MEDICAL CORPORATIONS
- §901. Terms defined
- §902. Professional corporations
- §903. The corporate name
- §904. Corporate authority
- §905. Shares
- §906. Certificate of stock
- §907. Liability of incorporators, subscribers, shareholders, directors, officers and agents
- §908. Action of shareholders
- §909. Shareholders' agreements
- §910. Directors
- §911. Officers and agents
- §912. Merger and consolidation
- §913. Dissolution
- §914. Regulation by Louisiana State Board of Medical Examiners
- §915. Short title
CHAPTER 10. INDUSTRIAL OR ECONOMIC
- §951. Terms defined
- §952. Incorporators; articles of incorporation; approval
- §953. Powers
- §954. Acquisition and disposition of securities; evidences of indebtedness; stock; loans from members
- §955. Applications for membership; loans to corporation
- §956. Duration of membership; notice of withdrawal
- §957. Powers of stockholders and members; voting
- §958. Amendment of articles; certification of amendment
- §959. Officers; board of directors; responsibility for losses
- §960. Retention of earned surplus
- §961. Deposits
- §962. Annual audit
- §963. Initial meeting of incorporators; quorum
- §964. Duration of corporation
- §965. Dissolution; distribution of assets
- §966. Pledge of state credit prohibited
- §967. State development company; federal definition
- §968. Tax exemptions, credits and privileges applicable
- §969. License fees
- §970. Fiscal year
- §971. Applicability of Louisiana business corporation law
- §972. Savings clause
CHAPTER 11. PROFESSIONAL DENTAL CORPORATIONS
- §981. Terms defined
- §982. Professional corporations
- §982.1. Professional limited liability companies
- §983. Corporate and limited liability company name
- §984. Corporate and limited liability company authority
- §985. Shares
- §985.1. Members
- §986. Certificate of stock
- §986.1. Membership interest
- §987. Liability of incorporators, subscribers, shareholders, directors, officers and agents
- §987.1. Liability of holder of interest in a limited liability company
- §988. Action of shareholders
- §988.1. Action of holders of membership interest
- §989. Shareholders' agreements
- §989.1. Membership ownership agreements
- §990. Directors
- §991. Officers and agents
- §992. Merger and consolidation
- §993. Dissolution
- §994. Regulation by Louisiana State Board of Dentistry
- §995. Short title
CHAPTER 12. PROFESSIONAL ACCOUNTING CORPORATIONS
- §1011. Terms defined
- §1012. Professional corporations
- §1013. The corporate name
- §1014. Repealed by Acts 2000, 1st Ex. Sess., No. 30, §2, eff. April 14, 2000.
- §1015. Shares
- §1016. Certificate of stock
- §1017. Liability of incorporators, subscribers, shareholders, directors, officers, and agents
- §1018. Actions of shareholders
- §1019. Shareholders agreements
- §1020. Directors
- §1021. Officers and agents
- §1022. Repealed by Acts 2000, 1st Ex. Sess., No. 30, §2, eff. April 14, 2000.
- §1023. Dissolution
- §1024. Regulation by state board of certified public accountants of Louisiana
- §1025. Short title
CHAPTER 13. MISCELLANEOUS PROVISIONS APPLICABLE
- §1041. Suppression of criminally operated businesses by domestic and foreign corporations; proceedings
- §1042. Franchise agreements; provisions for dispute resolution
CHAPTER 14. PROFESSIONAL CHIROPRACTIC CORPORATIONS
- §1051. Terms defined
- §1052. Professional corporations
- §1053. The corporate name
- §1054. Corporate authority
- §1055. Shares
- §1056. Certificate of stock
- §1057. Liability of incorporators, subscribers, shareholders, directors, officers and agents
- §1058. Action of shareholders
- §1059. Shareholders' agreements
- §1060. Directors
- §1061. Officers and agents
- §1062. Merger and consolidation
- §1063. Dissolution
- §1064. Regulation by Louisiana State Board of Chiropractic Examiners
- §1065. Short title
CHAPTER 15. PROFESSIONAL NURSING CORPORATIONS
- §1071. Terms defined
- §1072. Professional corporations
- §1073. The corporate name
- §1074. Corporate authority
- §1075. Shares
- §1076. Certificate of stock
- §1077. Liability of incorporators, subscribers, shareholders, directors, officers and agents
- §1078. Action of shareholders
- §1079. Shareholders' agreements
- §1080. Directors
- §1081. Officers and agents
- §1082. Merger and consolidation
- §1083. Dissolution
- §1084. Regulation by Louisiana State Board of Nursing
- §1085. Short title
CHAPTER 16. PROFESSIONAL ARCHITECTURAL
- §1086. Terms defined
- §1087. Professional corporation
- §1088. Corporate name
- §1089. Corporate authority
- §1090. Shares
- §1091. Certificate of stock
- §1092. Liability of incorporators, subscribers, shareholders, directors, officers, and agents
- §1093. Action of shareholders
- §1094. Shareholders' agreements
- §1095. Directors
- §1096. Officers
- §1097. Contracts
- §1098. Merger and consolidation
- §1099. Dissolution
- §1100. Regulation by Louisiana State Board of Architectural Examiners
- §1101. Short title
CHAPTER 17. PROFESSIONAL OPTOMETRY CORPORATIONS
- §1110. Terms defined
- §1111. Professional corporations
- §1112. Corporate name
- §1113. Corporate authority
- §1114. Shares
- §1115. Certificate of stock
- §1116. Liability of incorporators, subscribers, shareholders, directors, officers or agents
- §1117. Action of shareholders
- §1118. Shareholders' agreements
- §1119. Directors
- §1120. Officers and agents
- §1121. Merger and consolidation
- §1122. Dissolution
- §1123. Regulation by Louisiana State Board of Optometry
- §1124. Short title
CHAPTER 18. PROFESSIONAL PSYCHOLOGY CORPORATIONS
- §1130. Terms defined
- §1131. Professional corporations
- §1132. The corporate name
- §1133. Corporate authority
- §1134. Shares
- §1135. Certificate of stock
- §1136. Liability of incorporators, subscribers, shareholders, directors, officers and agents
- §1137. Action of shareholders
- §1138. Shareholders' agreements
- §1139. Directors
- §1140. Officers and agents
- §1141. Merger and consolidation
- §1142. Dissolution
- §1143. Regulation by the Louisiana State Board of Examiners of Psychologists
- §1144. Short title
CHAPTER 19. PROFESSIONAL VETERINARY
- §1151. Terms defined
- §1152. Professional corporations
- §1153. The corporate name
- §1154. Corporate authority
- §1155. Shares
- §1156. Certificate of stock
- §1157. Liability of incorporators, subscribers, shareholders, directors, officers and agents
- §1158. Action of shareholders
- §1159. Shareholders' agreements
- §1160. Directors
- §1161. Officers and agents
- §1162. Merger and consolidation
- §1163. Dissolution
- §1164. Regulation by Louisiana Board of Veterinary Medicine
- §1165. Short title
CHAPTER 20. ARCHITECTURAL-ENGINEERING CORPORATIONS
- §1171. Terms defined
- §1172. Corporate name
- §1173. Corporate authority
- §1174. Directors, officers, and agents; liability
- §1175. Shareholders' agreements
- §1176. Directors
- §1177. Officers
- §1178. Contracts
- §1179. Regulation
- §1180. Compliance by existing corporation
- §1181. Short title
CHAPTER 21. PROFESSIONAL OCCUPATIONAL
- §1190. Terms defined
- §1191. Professional corporations
- §1192. Corporate name
- §1193. Corporate authority
- §1194. Shares
- §1195. Certificate of stock
- §1196. Liability of incorporators, subscribers, shareholders, directors, officers, and agents
- §1197. Action of shareholders
- §1198. Shareholders' agreements
- §1199. Directors
- §1200. Officers and agents
- §1201. Merger and consolidation
- §1202. Dissolution
- §1203. Regulation by Louisiana State Board of Medical Examiners
- §1204. Short title
CHAPTER 22. LIMITED LIABILITY COMPANIES
PART II. FORMATION
- §1302. Purpose
- §1303. Powers
- §1304. Formation
- §1305. Articles of organization; initial report
- §1306. Name
- §1307. Reservation of name; transfer of reserved name
- §1308. Registered office and registered agent
- §1308.1. Annual report
- §1308.2. Failure to file annual report; revocation and reinstatement of articles; limitation on authority to do business with the state
- §1308.3. Conversion of state of organization
- §1309. Amendment of articles of organization
- §1310. Certificates of correction
- §1310.1. Retroactivity of company's existence; acquisition of immovable property prior to limited liability company's existence
PART III. MANAGEMENT AND MANAGEMENT RIGHTS OF MEMBERS
- §1311. Management by members
- §1312. Managers
- §1313. Election and removal of managers
- §1314. Duties of members and managers
- §1315. Limitation of liability and indemnification of members and managers
- §1316. Voting by managers
- §1317. Agency power of managers or members
- §1317.1. Company representation; state entities
- §1318. Voting rights of members
- §1319. Records and information
- §1320. Liability to third parties of members and managers
PART IV. FINANCE
- §1321. Contributions to capital
- §1322. Liability for contribution
- §1323. Sharing of profits and losses
PART V. DISTRIBUTIONS
- §1324. Interim distributions
- §1325. Distributions upon withdrawal
- §1326. Distribution in kind
- §1327. Restrictions on making distributions
- §1328. Liability upon wrongful distribution
PART VI. ASSIGNMENT OF MEMBERSHIP INTERESTS
- §1329. Nature of membership interest
- §1330. Assignment of membership interest
- §1331. Rights of judgment creditor
- §1332. Right of assignee to become a member
- §1333. Powers of estate of a deceased or incompetent member
PART VII. DISSOLUTION
- §1334. Dissolution
- §1335. Judicial dissolution
- §1335.1. Dissolution by affidavit
- §1336. Winding up
- §1337. Distribution of assets
- §1338. Claims against limited liability company in liquidation; peremption
- §1339. Articles of dissolution
- §1340. Certificate of dissolution; assets omitted from liquidation; post-dissolution proceedings
- §1341. Liability of members of dissolved limited liability companies
PART VIII. FOREIGN LIMITED LIABILITY COMPANIES
- §1342. Admission of foreign limited liability company
- §1343. Transactions not constituting transacting business
- §1344. Name of authorized foreign limited company
- §1345. Application for certificate of authority
- §1346. Issuance of certificate of authority
- §1347. Effect of certificate of authority
- §1348. Amended certificate of authority
- §1349. Certificate of correction by a foreign limited liability company
- §1350. Registered agent; registered office; principal business establishment; keeping of records by foreign limited liability company
- §1350.1. Annual report
- §1351. Withdrawal
- §1352. Termination of withdrawal proceedings
- §1353. Revocation or suspension of certificate of authority; limitation on authority to do business with the state
- §1354. Transacting business without authority
- §1355. Authority to investigate; penalty
- §1356. Repealed by Acts 2017, No. 367, §3.
PART IX. MERGER
- §1357. Merger or consolidation
- §1358. Agreement of merger or consolidation
- §1359. Approval of merger or consolidation
- §1360. Certificate of merger or consolidation
- §1361. Effects of merger or consolidation
- §1362. Merger or consolidation with foreign entity
PART X. MISCELLANEOUS
- §1363. Revocation and reinstatement of articles; limitation on authority to do business within the state
- §1364. Filing, service, and copying fees
- §1365. Derivative actions
- §1366. Applicability of provisions to foreign and interstate commerce
- §1367. Rules of construction
- §1368. Taxation
- §1369. Short title
- §1370. Voting trusts
CHAPTER 23. PROFESSIONAL SOCIAL WORK CORPORATIONS
- §1400. Terms defined
- §1401. Professional corporations
- §1402. The corporate name
- §1403. Corporate authority
- §1404. Shares
- §1405. Certificate of stock
- §1406. Liability of incorporators, subscribers, shareholders, directors, officers and agents
- §1407. Action of shareholders
- §1408. Shareholders' agreements
- §1409. Directors
- §1410. Officers and agents
- §1411. Merger and consolidation
- §1412. Dissolution
- §1413. Regulation by the Louisiana State Board of Social Work Examiners
- §1414. Short title
CHAPTER 24. PRESCRIPTIVE PERIODS APPLICABLE
CHAPTER 25. CONVERSIONS OF BUSINESS ORGANIZATIONS
- §1601. Conversion of domestic business entities
- §1602. Definitions
- §1603. Tax filing requirements
- §1604. Continuation and updating of professional or other license
- §1605. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §1606. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
- §1607. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
CHAPTER 26. PROVISIONS APPLICABLE TO MORE THAN
- §1701. Filing Methods
- §1702. Confidentiality of information
- §1703. Electronic notification of status changes
- §1704. Judicial review; removal of officers, members, managers, and partners
CHAPTER 27. BENEFIT CORPORATIONS
- §1801. Short title
- §1802. Application and effect of Chapter
- §1803. Definitions
- §1804. Election of status; corporate name
- §1805. Termination of status
PART II. CORPORATE PURPOSES
PART III. ACCOUNTABILITY
- §1821. Standard of conduct for directors
- §1822. Benefit director
- §1823. Standard of conduct for officers
- §1824. Benefit officer
- §1825. Right of action
PART IV. TRANSPARENCY
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