Title 12, Corporations and Associations

0 chapters · 924 sections in this title.

924 sectionsFiltered byTitle 12

La. Rev. Stat. § 12:1-1401 [Reserved.]
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§1-1401. [Reserved.] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1402 Dissolution by board of directors and shareholders
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§1-1402. Dissolution by board of directors and shareholders A. A corporation's board of directors may propose dissolution for submission to the shareholders. B. For a proposal to dissolve to be adopted, both of the following requirements must be met: (1) The board of directors mu…
La. Rev. Stat. § 12:1-1403 Articles of dissolution
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§1-1403. Articles of dissolution A. At any time after dissolution is authorized, the corporation may dissolve by delivering to the secretary of state for filing articles of dissolution setting forth all of the following: (1) The name of the corporation. (2) The date dissolution w…
La. Rev. Stat. § 12:1-1404 Revocation of dissolution
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§1-1404. Revocation of dissolution A. A corporation that is not terminated may revoke its dissolution within one hundred and twenty days of its effective date. B. Revocation of dissolution must be authorized in the same manner as the dissolution was authorized unless that authori…
La. Rev. Stat. § 12:1-1405 Effect of dissolution
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§1-1405. Effect of dissolution A. A dissolved corporation continues its corporate existence but may not carry on any business except that appropriate to wind up and liquidate its business and affairs, including any of the following: (1) Collecting its assets. (2) Disposing of its…
La. Rev. Stat. § 12:1-1406 Known claims against dissolved corporation
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§1-1406. Known claims against dissolved corporation A. A dissolved corporation may dispose of the known claims against it by notifying its known claimants in writing of the dissolution at any time after its effective date. B. The written notice must do all of the following: (1) D…
La. Rev. Stat. § 12:1-1407 Other claims against dissolved corporation
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§1-1407. Other claims against dissolved corporation A. A dissolved corporation may also publish notice of its dissolution and request that persons with claims against the dissolved corporation present them in accordance with the notice. B. The notice must do all of the following:…
La. Rev. Stat. § 12:1-1408 Court proceedings
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§1-1408. Court proceedings A. A dissolved corporation that has published a notice under R.S. 12:1-1407 may file an application with the district court of the parish where the dissolved corporation's principal office or, if none in this state, its registered office is located for …
La. Rev. Stat. § 12:1-1409 Responsibility of the board of directors
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§1-1409. Responsibility of the board of directors A. The board of directors of a dissolved corporation is responsible for winding up and liquidating the business and affairs of the corporation as contemplated by R.S. 12:1-1405 (A). The board of directors may authorize a distribut…
La. Rev. Stat. § 12:1-141 Notices and other communications
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§1-141. Notices and other communications A. Except as provided in R.S. 12:1-303, notice under this Chapter must be in writing. Unless otherwise agreed between the sender and the recipient, a notice or other communication under this Chapter must be in English. B. A notice or other…
La. Rev. Stat. § 12:1-1410 Certain sections in Subpart A applicable to all dissolved corporations
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§1-1410. Certain sections in Subpart A applicable to all dissolved corporations R.S. 12:1-1405 through 1-1409 apply to a dissolved corporation regardless of whether the dissolution is voluntary or judicial. Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1411 RS 12:1-1411
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§1-1411 - 1-1429 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1412 RS 12:1-1412
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§12:1-1412 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1413 RS 12:1-1413
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§12:1-1413 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1414 RS 12:1-1414
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§12:1-1414 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1415 RS 12:1-1415
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§12:1-1415 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1416 RS 12:1-1416
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§12:1-1416 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1417 RS 12:1-1417
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§12:1-1417 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1418 RS 12:1-1418
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§12:1-1418 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1419 RS 12:1-1419
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§12:1-1419 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-142 Number of shareholders
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§1-142. Number of shareholders A. For purposes of this Chapter, the following identified as a shareholder in a corporation's current record of shareholders constitutes one shareholder: (1) Co-owners. (2) A corporation, partnership or other entity. (3) A trust or estate or the tru…
La. Rev. Stat. § 12:1-1420 RS 12:1-1420
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§12:1-1420 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1421 RS 12:1-1421
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§12:1-1421 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1422 RS 12:1-1422
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§12:1-1422 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1423 RS 12:1-1423
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§12:1-1423 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1424 RS 12:1-1424
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§12:1-1424 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1425 RS 12:1-1425
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§12:1-1425 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1426 RS 12:1-1426
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§12:1-1426 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1427 RS 12:1-1427
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§12:1-1427 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1428 RS 12:1-1428
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§12:1-1428 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1429 RS 12:1-1429
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§12:1-1429 [Reserved] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-143 Qualified director
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§1-143. Qualified director A. A "qualified director" is a director who meets the following criteria: (1) At the time action is to be taken under R.S. 12:1-744, does not have either of the following conflicting interests: (a) A material interest in the outcome of the proceeding. (…
La. Rev. Stat. § 12:1-1430 Grounds for judicial dissolution
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§1-1430. Grounds for judicial dissolution A. A district court may dissolve a corporation in any of the following: (1) A proceeding by the attorney general if either of the following is established: (a) The corporation obtained its articles of incorporation through fraud. (b) The …
La. Rev. Stat. § 12:1-1431 Procedure for judicial dissolution
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§1-1431. Procedure for judicial dissolution A. Venue for a proceeding by the attorney general to dissolve a corporation lies in East Baton Rouge Parish. Venue for a proceeding brought by any other party named in R.S. 12:1-1430(A) lies in the parish where the corporation's princip…
La. Rev. Stat. § 12:1-1432 Appointment of receiver or liquidator
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§1-1432. Appointment of receiver or liquidator A. Unless an election to purchase has been filed under R.S. 12:1-1434, a court in a judicial proceeding brought to dissolve a corporation or to continue a dissolution under court supervision may appoint one or more liquidators to win…
La. Rev. Stat. § 12:1-1433 Judgment of dissolution
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§1-1433. Judgment of dissolution A. If after a hearing the court determines that one or more grounds for judicial dissolution described in R.S. 12:1-1430 exist, it may enter a judgment dissolving the corporation and specifying the effective date of the dissolution, and the clerk …
La. Rev. Stat. § 12:1-1434 Election to purchase in lieu of dissolution
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§1-1434. Election to purchase in lieu of dissolution A. In a proceeding under R.S. 12:1-1430(A)(2) to dissolve a corporation, the corporation may elect or, if it fails to elect, one or more shareholders may elect to purchase all shares owned by the petitioning shareholder at the …
La. Rev. Stat. § 12:1-1435 Oppressed shareholder's right to withdraw
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§1-1435. Oppressed shareholder's right to withdraw A. If a corporation engages in oppression of a shareholder, the shareholder may withdraw from the corporation and require the corporation to buy all of the shareholder's shares at their fair value. B. A corporation engages in opp…
La. Rev. Stat. § 12:1-1436 Judicial determination of fair value and payment terms for withdrawing
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§1-1436. Judicial determination of fair value and payment terms for withdrawing shareholder's shares A.(1) If a shareholder's right to withdraw from a corporation is recognized by means of a notice of acceptance under R.S. 12:1-1435(E), but the notice does not create a contract u…
La. Rev. Stat. § 12:1-1437 Stay of duplicative proceedings
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§1-1437. Stay of duplicative proceedings A. On motion by the corporation, a court shall stay a duplicative proceeding by a shareholder who has given a notice of withdrawal to the corporation as provided in R.S. 12:1-1435(D). The court shall lift the stay on motion by the sharehol…
La. Rev. Stat. § 12:1-1438 Conversion of oppression proceeding into court-supervised dissolution
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§1-1438. Conversion of oppression proceeding into court-supervised dissolution A. A corporation may by contradictory motion convert a withdrawal or valuation proceeding under R.S. 12:1-1435 or 1-1436 into a proceeding for a court-supervised dissolution of the corporation if the d…
La. Rev. Stat. § 12:1-144 Householding
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§1-144. Householding A. A corporation has delivered written notice or any other report or statement under this Chapter, the articles of incorporation, or the bylaws to all shareholders who share a common address if all of the following conditions are met: (1) The corporation deli…
La. Rev. Stat. § 12:1-1440 Articles of termination
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§1-1440. Articles of termination A. When the board of directors, or the liquidator acting during the liquidator's appointment, determines that the corporation has completed the winding up and liquidation of its business and affairs, the board of directors or liquidator may cause …
La. Rev. Stat. § 12:1-1441 Simplified termination procedure for certain corporations
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§1-1441. Simplified termination procedure for certain corporations A. The existence of a corporation may be terminated as provided in this Section if the corporation satisfies all of the following conditions: (1) Does not owe any debts. (2) Does not own any immovable property. (3…
La. Rev. Stat. § 12:1-1442 Administrative termination
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§1-1442. Administrative termination A. Subject to Subsection B of this Section, the secretary of state shall terminate the existence of a corporation if, according to the records of the secretary of state, the corporation has failed for ninety consecutive days to do either of the…
La. Rev. Stat. § 12:1-1443 Effective date and effects of termination
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§1-1443. Effective date and effects of termination A. The filing by the secretary of state of a corporation's articles of termination under R.S. 12:1-1440 or 1-1441 or a certificate of termination under R.S. 12:1-1442 causes the existence of the corporation to terminate on the ef…
La. Rev. Stat. § 12:1-1444 Reinstatement of terminated corporation
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§1-1444. Reinstatement of terminated corporation A. A terminated corporation may be reinstated if the corporation satisfies both of the following conditions: (1) It was not dissolved by a judgment of dissolution. (2) It requests reinstatement in accordance with this Section no la…
La. Rev. Stat. § 12:1-1445 Appointment of liquidator for terminated corporation
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§1-1445. Appointment of liquidator for terminated corporation On application of any interested party, a district court may, ex parte or on such notice as the court may order, appoint a liquidator to act on behalf of a terminated corporation with respect to any of its undistribute…
La. Rev. Stat. § 12:1-1446 RS 12:1-1446
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§1-1446 - 1-1600 [Reserved.] Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:1-1601 Corporate records
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§1-1601. Corporate records A. A corporation shall keep as permanent records minutes of all meetings of its shareholders and board of directors, a record of all actions taken by the shareholders or board of directors without a meeting, and a record of all actions taken by a commit…