Louisiana Revised Statutes 12:1-142 – Number of shareholders
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Louisiana Revised Statutes 12:1-142
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
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 trustees, guardians, custodians, succession representatives, or other fiduciaries of a single trust, estate, succession, or account.
B. For purposes of this Chapter, shareholdings registered in substantially similar names constitute one shareholder if it is reasonable to believe that the names represent the same person.
Acts 2014, No. 328, §1, eff. Jan. 1, 2015.