Louisiana Revised Statutes 12:1-807 – Resignation of directors
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Terms Used In Louisiana Revised Statutes 12:1-807
- 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.
A. A director may resign at any time by delivering a written resignation to the board of directors, or its chair, or to the secretary of the corporation.
B. A resignation is effective when the resignation is delivered unless the resignation specifies a later effective date or an effective date determined upon the happening of an event or events. A resignation that is conditioned upon failing to receive a specified vote for election as a director may provide that it is irrevocable.
Acts 2014, No. 328, §1, eff. Jan. 1, 2015.