Terms Used In Louisiana Revised Statutes 12:1-1442

  • 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. Subject to Subsection B of this Section, the secretary of state shall terminate the existence of a corporation if, according to the records of the secretary of state, the corporation has failed for ninety consecutive days to do either of the following:

            (1) Comply with the requirements imposed by La. Rev. Stat. 12:1-501 concerning the continuous maintenance in this state of a registered office and registered agent.

            (2) File an annual report as required by La. Rev. Stat. 12:1-1621.

            B. The secretary of state shall give the corporation at least thirty days’ written notice of the secretary’s intention to terminate the corporation’s existence under Subsection A of this Section. If the corporation eliminates the grounds for its termination before the end of the thirty-day notice period, the secretary of state shall not terminate the existence of the corporation.

            C. The secretary of state terminates the existence of a corporation under this Section by filing a certificate of termination that states the grounds for termination.

            Acts 2014, No. 328, §1, eff. Jan. 1, 2015; Acts 2015, No. 356, §1.

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