Louisiana Revised Statutes 12:499.1 – Short title; purpose
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Terms Used In Louisiana Revised Statutes 12:499.1
- 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. This Part shall be known as the “Cooperative Housing Corporation Law”.
B. The purpose of this Part is to foster safe, decent, and affordable housing in the state by enabling individuals to form cooperative corporations for the purpose of developing, acquiring, owning, and/or operating multi-family and single family housing units on a cooperative plan.
Acts 1990, No. 857, §1.