§ 12:1-620 Subscription for shares before incorporation
§ 12:1-621 A. The powers granted in this Section to the board of directors may be reserved to the shareholders by the articles of incorporation.
§ 12:1-622 A. A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the consideration for which the shares
§ 12:1-623 A. Unless the articles of incorporation provide otherwise, shares may be issued pro rata and without consideration to the corporation’s shareholders or to the shareholders of one or
§ 12:1-624 A. A corporation may issue rights, options, or warrants for the purchase of shares or other securities of the corporation. The board of directors shall determine the terms upon which
§ 12:1-625 Form and content of certificates
§ 12:1-626 Shares without certificates
§ 12:1-627 Restriction on transfer of shares and other securities
§ 12:1-628 Expense of issue

Terms Used In Louisiana Revised Statutes > Title 12 > Chapter 1 > Part 6 > Subpart B - Issuance of Shares

  • Association: means a savings association, thrift institution, homestead, building and loan association, savings and loan association, or society, including both capital stock and mutual associations. See Louisiana Revised Statutes 6:703
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Commissioner: means the commissioner of financial institutions, of the state of Louisiana, in his capacity as supervisor of associations. See Louisiana Revised Statutes 6:703
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Decedent: A deceased person.
  • Dependent: A person dependent for support upon another.
  • Depositor: means a holder of a savings, demand, or other type of deposit account of an association. See Louisiana Revised Statutes 6:703
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Executor: A male person named in a will to carry out the decedent
  • Fiduciary: A trustee, executor, or administrator.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Member: means a person or entity holding a savings or demand account of or shares of a mutual association, and may include a person borrowing from or assuming or obligated upon a loan or interest therein held by such association if such is authorized by the charter or the bylaws of the association. See Louisiana Revised Statutes 6:703
  • person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
  • Quorum: The number of legislators that must be present to do business.
  • Savings account: means an account to which earnings, including interest, is paid or accrued. See Louisiana Revised Statutes 6:703
  • Share: means any share, certificate, security, account, or other evidence of funds invested in a mutual association by a member thereof, other than a savings or demand account. See Louisiana Revised Statutes 6:703
  • Statute: A law passed by a legislature.
  • Stock: means capital stock of a capital stock association. See Louisiana Revised Statutes 6:703
  • Trustee: A person or institution holding and administering property in trust.
  • Withdrawal value: means the amount credited to the shares of a member or to a savings or demand account, less lawful deductions therefrom, as shown on the records of the association. See Louisiana Revised Statutes 6:703