Title 12, Corporations and Associations
0 chapters · 924 sections in this title.
La. Rev. Stat. § 12:33 Repealed by Acts 2014, No
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§33. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015. Acts 1968, No. 105, §1; Acts 1989, No. 612, §1, eff. July 6, 1989; Acts 2014, No. 328, §5, eff. Jan. 1, 2014.
La. Rev. Stat. § 12:34 Repealed by Acts 2014, No
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§34. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015. Acts 1968, No. 105, §1; Acts 2014, No. 328, §5, eff. Jan. 1, 2014.
La. Rev. Stat. § 12:35 Repealed by Acts 2014, No
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§35. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015. Added by Acts 1982, No. 442, §1, eff. July 21, 1982. Acts 1989, No. 612, §1, eff. July 6, 1989; Acts 1999, No. 342, §5; Acts 2001, No. 1187, §1; Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:401 Organization authorized
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§401. Organization authorized Cooperative, nonprofit membership corporations may be organized under this Part for the purpose of supplying electrical energy and promoting and extending the use thereof. Renumbered from R.S.1950, §12:301 by Acts 1968, No. 105, §3, eff. Jan. 1, 1969…
La. Rev. Stat. § 12:402 Terms defined
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§402. Terms defined As used in this Part: A. "Cooperative" means a corporation organized under this Part and a corporation which becomes subject to this Part in the manner hereinafter provided. B. "Member" means each incorporator of a cooperative and each person admitted to and r…
La. Rev. Stat. § 12:403 Powers
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§403. Powers A cooperative may: (1) Sue and be sued, in its corporate name; (2) Have perpetual existence, unless otherwise provided for in the articles of incorporation of the cooperative; (3) Adopt a corporate seal and alter the same at pleasure; (4) Generate, manufacture, purch…
La. Rev. Stat. § 12:404 Name
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§404. Name The name of each cooperative shall include the words "Electric" and "Cooperative," and the abbreviation "Inc.," provided, however, such limitation shall not apply if, in any affidavit made by the president or vice-president of the cooperative and filed with the Secreta…
La. Rev. Stat. § 12:405 Incorporators
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§405. Incorporators Five or more natural persons, or two or more cooperatives, may organize a cooperative in the manner hereinafter provided. Renumbered from R.S.1950, §12:305 by Acts 1968, No. 105, §3, eff. Jan. 1, 1969.
La. Rev. Stat. § 12:406 Articles of incorporation
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§406. Articles of incorporation A. The articles of incorporation of a cooperative shall recite in the caption that they are executed pursuant to this Part. The articles shall be executed by authentic act, signed by each of the incorporators, and shall state the following: (1) The…
La. Rev. Stat. § 12:407 Bylaws
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§407. Bylaws A. The original bylaws of a cooperative shall be adopted by its board of directors. The first bylaws of a new cooperative resulting from a consolidation, or the surviving cooperative resulting from a merger, or the converted corporation resulting from a conversion, a…
La. Rev. Stat. § 12:408 Members
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§408. Members A. No person who is not an incorporator shall become a member of a cooperative unless such person shall agree to use electric energy furnished by the cooperative when such electric energy is available through its facilities. The bylaws of a cooperative may provide t…
La. Rev. Stat. § 12:409 Board of directors; elections
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§409. Board of directors; elections A.(1) The business and affairs of a cooperative shall be managed by a board of not less than five directors, each of whom shall be a member of the cooperative or of another cooperative which shall be a member thereof. The bylaws shall prescribe…
La. Rev. Stat. § 12:41 Repealed by Acts 2014, No
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§41. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015. Acts 1968, No. 105, §1; Acts 1984, No. 841, §1, eff. July 13, 1984; Acts 1990, No. 848, §1; Acts 1997, No. 914, §1; Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:410 Districts
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§410. Districts Notwithstanding any other provision of this Part, or any other statute, the by-laws may provide for the division and redivision of the territory served or to be served by a cooperative into two or more districts. In such case the by-laws shall prescribe the manner…
La. Rev. Stat. § 12:411 Officers
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§411. Officers The officers of a cooperative shall consist of a president, vice-president, secretary and treasurer, who shall be elected annually by and from the board of directors. No person shall continue to hold any of the above offices after he has ceased to be a director. Th…
La. Rev. Stat. § 12:412 Amendment of articles of incorporation
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§412. Amendment of articles of incorporation A. A cooperative may amend its articles of incorporation by complying with the following requirements: (1) The proposed amendment shall be approved first by the board of directors and shall be submitted then to a vote of the members at…
La. Rev. Stat. § 12:413 Consolidation
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§413. Consolidation Any two or more cooperatives, each of which is hereinafter designated a "consolidating cooperative", may consolidate into a new cooperative, hereinafter designated the "new cooperative", by complying with the following requirements: A. The proposition for the …
La. Rev. Stat. § 12:414 Merger
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§414. Merger Any one or more cooperatives, each of which is hereinafter designated a "merging cooperative," may merge into another cooperative, hereinafter designated the "surviving cooperative," by complying with the following requirements: A. The proposition for the merger of t…
La. Rev. Stat. § 12:415 Effect of consolidation or merger
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§415. Effect of consolidation or merger The effect of consolidation or merger shall be: A. The several cooperatives, parties to the consolidation or merger, shall be a single cooperative which, in the case of a consolidation, shall be the new cooperative provided for in articles …
La. Rev. Stat. § 12:416 Conversion of existing corporations
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§416. Conversion of existing corporations Any corporation organized under the laws of this state for the purpose, among others, of supplying electric energy may be converted into a cooperative and become subject to this Part with the same effect as if originally organized under t…
La. Rev. Stat. § 12:417 Initiative by members
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§417. Initiative by members Notwithstanding any other provision of this Part, any proposition embodied in a petition signed by not less than ten per centum of the members of a cooperative, together with any document submitted with such petition to give effect to its proposition, …
La. Rev. Stat. § 12:417.1 Corporate records; disclosure; right of members to inspect
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§417.1. Corporate records; disclosure; right of members to inspect A cooperative shall maintain for inspection by any member of the cooperative or his attorney during regular office hours every contract or agreement of a value in an amount in excess of fifteen thousand dollars. E…
La. Rev. Stat. § 12:418 Dissolution
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§418. Dissolution A. A cooperative which has not commenced business may dissolve voluntarily by delivering to the Secretary of State articles of dissolution, executed and acknowledged on behalf of the cooperative by a majority of the incorporators. The articles of dissolution sha…
La. Rev. Stat. § 12:419 Filing of articles
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§419. Filing of articles A. Articles of incorporation, amendment, consolidation, merger, conversion, or dissolution, as the case may be, when executed by authentic act shall be presented to the secretary of state for filing in the records of his office. If the secretary of state …
La. Rev. Stat. § 12:42 Repealed by Acts 2014, No
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§42. Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015. Acts 1968, No. 105, §1; Acts 2014, No. 328, §5, eff. Jan. 1, 2015.
La. Rev. Stat. § 12:420 Refunds to members
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§420. Refunds to members A. Revenues of a cooperative for any fiscal year shall first be used to: (1) Defray expenses of the cooperative and of the operation and maintenance of its facilities during such fiscal year; (2) Pay interest and principal obligations of the cooperative c…
La. Rev. Stat. § 12:421 Disposition of property
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§421. Disposition of property A cooperative may not sell, mortgage, lease or otherwise dispose of or encumber all or any substantial portion of its property unless such sale, mortgage, lease or other disposition or encumbrance is authorized at a duly held meeting of the members t…
La. Rev. Stat. § 12:422 Non-liability of members for debts of cooperative
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§422. Non-liability of members for debts of cooperative The private property of the members of a cooperative shall be exempt from execution for the debts of the cooperative and no member shall be liable or responsible for any debts of the cooperative. Renumbered from R.S.1950, §1…
La. Rev. Stat. § 12:423 Recordation of mortgages and conveyances
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§423. Recordation of mortgages and conveyances Notwithstanding the provisions of any other Part, upon the recordation as a mortgage on real property of any mortgage, deed of trust, or other instrument executed by a cooperative or foreign corporation authorized to transact busines…
La. Rev. Stat. § 12:424 Waiver of notice
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§424. Waiver of notice Whenever any notice is required to be given under the provisions of this Part or under the provisions of the articles of incorporation or by-laws of a cooperative, waiver thereof in writing, signed by the person or persons entitled to such notice, whether b…
La. Rev. Stat. § 12:425 Taxation
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§425. Taxation Each cooperative shall pay annually, on or before the first day of July, to the department of revenue, a fee of ten dollars for each one hundred persons or fraction thereof to whom electricity is supplied within the state by it, but shall be exempt from all other e…
La. Rev. Stat. § 12:426 Jurisdiction of the Public Service Commission
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§426. Jurisdiction of the Public Service Commission A. Cooperatives transacting business in this state pursuant to this Part shall not be subject to the jurisdiction and control of the Public Service Commission except as provided in R.S. 45:1163 and Subsections B and C of this Se…
La. Rev. Stat. § 12:427 Securities law exemption
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§427. Securities law exemption The provisions of Part X of Chapter 2 of Title 51 shall not apply to any note, bond or other evidence of indebtedness issued by any cooperative pursuant to this Part to the United States of America or any agency or instrumentality thereof, or to any…
La. Rev. Stat. § 12:428 Acquisition of servitudes
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§428. Acquisition of servitudes A cooperative shall acquire a servitude on an immovable, unless such immovable is owned by the federal or state government or any agency or subdivision thereof, for the operation and maintenance of its electric transmission and distribution lines, …
La. Rev. Stat. § 12:429 Construction
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§429. Construction This Part shall be construed liberally. The enumeration of any object, purpose, power, manner, method, or thing shall not be deemed to exclude like or similar objects, purposes, powers, manners, methods or things. Renumbered from R.S.1950, §12:329 by Acts 1968,…
La. Rev. Stat. § 12:430 Short title
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§430. Short title This Part of this Chapter shall be known and may be referred to by the short title: "Electric Cooperative Law." Renumbered from R.S.1950, §12:330 by Acts 1968, No. 105, §3, eff. Jan. 1, 1969.
La. Rev. Stat. § 12:430.1 Cooperatives; provision of broadband services; servitudes
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§430.1. Cooperatives; provision of broadband services; servitudes A.(1)(a) Except as provided in Subparagraphs (b) and (c) of this Paragraph, a cooperative shall grant permission to a broadband affiliate or a broadband service provider to use the electric delivery system of the c…
La. Rev. Stat. § 12:430.2 Reporting on broadband high-speed internet access
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§430.2. Reporting on broadband high-speed internet access On March 1, 2021, and every March thereafter, each cooperative, or the statewide or trade association of each cooperative, shall submit a written report to the Senate Committee on Commerce, Consumer Protection and Internat…
La. Rev. Stat. § 12:431 Repealed by Acts 2014, No
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§431. Repealed by Acts 2014, No. 132, §1, eff. May 22, 2014.
La. Rev. Stat. § 12:431.1 Repealed by Acts 2014, No
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§431.1. Repealed by Acts 2014, No. 132, §1, eff. May 22, 2014.
La. Rev. Stat. § 12:441 Sea Food Marketing Associations authorized
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§441. Sea Food Marketing Associations authorized Cooperative Sea Food Marketing Associations may be organized under this Part. These associations shall be deemed nonprofit, inasmuch as they are not organized to make profits for themselves, as such, or for their members, as such, …
La. Rev. Stat. § 12:442 Purpose of legislation
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§442. Purpose of legislation It is hereby declared that this Part was enacted in order to promote, foster and encourage the intelligent and orderly marketing of sea food products, skins and furs through cooperation, eliminate speculation, unnecessary middlemen and waste, make the…
La. Rev. Stat. § 12:443 Terms defined
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§443. Terms defined As used in this Part: (1) "Association" means an association organized under this Part. (2) "Member" means an actual member of an association without capital stock and the holder of common stock in an association organized with capital stock. (3) "Person" incl…
La. Rev. Stat. § 12:444 Persons who may organize
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§444. Persons who may organize Ten or more persons, a majority of whom are residents of this state, engaged in the catching, gathering, or the production of seafood products and skins and furs, may form an association, with or without capital stock, under the provisions of this P…
La. Rev. Stat. § 12:445 Activities in which association may engage
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§445. Activities in which association may engage An association may be organized to engage in any activity in connection with the marketing or selling of seafood products and skins and furs of its members, or with the catching, gathering, preserving, drying, processing, manufactu…
La. Rev. Stat. § 12:446 Powers of association
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§446. Powers of association Each association shall have the following powers: (1) To engage in any activity in connection with the marketing or selling of the sea food products and skins and furs belonging to its members, or with the catching, gathering, preserving, drying, proce…
La. Rev. Stat. § 12:447 Members
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§447. Members A. Under the terms and conditions prescribed by its bylaws, an association may admit as members, or issue common stock or certificates of membership to such persons as are engaged in the business of catching, gathering, preserving, drying, processing, manufacturing,…
La. Rev. Stat. § 12:448 Articles of association
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§448. Articles of association A. Each association formed under this Part shall prepare and file articles of association, setting forth: (1) The name of the association, and the location and post-office address of its registered office, and the name and post-office addresses of it…
La. Rev. Stat. § 12:449 Amendments to articles of association
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§449. Amendments to articles of association The articles of incorporation may be altered or amended at any regular meeting, or at any special meeting called for that purpose. Any amendment must first be approved by two-thirds of the directors and must be then adopted by a vote of…
La. Rev. Stat. § 12:450 Bylaws
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§450. Bylaws Each association incorporated under this Part, within thirty days after its incorporation, shall adopt for its government and management, a code of bylaws, not inconsistent with the powers granted by this Part. A majority vote of the members, or their written consent…