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2021 Louisiana Laws
Revised Statutes
Title 12 - Corporations and Associations
§1-631. Corporation's acquisition of its own shares
Universal Citation: LA Rev Stat § 12:1-631 (2021)
RS 1-631 - Corporation's acquisition of its own shares
A. A corporation may acquire its own shares, and shares so acquired constitute authorized but unissued shares.
B. If the articles of incorporation prohibit the reissue of the acquired shares, the number of authorized shares is reduced by the number of shares acquired.
Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
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