Louisiana Code of Civil Procedure 692 – Corporation, limited liability company, or partnership in receivership or liquidation
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Terms Used In Louisiana Code of Civil Procedure 692
- 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.
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
A. Except as otherwise provided by law, the receiver or liquidator appointed for a domestic or foreign corporation, limited liability company, or partnership by a court of this state is the proper plaintiff to sue to enforce a right of the corporation, limited liability company, or partnership, or of its receiver or liquidator. These rules apply whether, under the law of its domicile, the existence of the corporation, limited liability company, or partnership continues or is terminated.
B. The receiver or liquidator may institute and prosecute any action without special authorization from the court which appointed him.
Acts 1999, No. 145, §2.