Louisiana Revised Statutes 12:1015 – Shares
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Terms Used In Louisiana Revised Statutes 12:1015
- 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.
- Professional accounting corporation: means a corporation organized pursuant to this Chapter and meeting the requirements to obtain a permit as a certified professional accounting firm as provided for by the Louisiana Accountancy Act, La. See Louisiana Revised Statutes 12:1011
A. There shall be only one class of shares of a professional accounting corporation, denominated common shares which shall be either with or without par value.
B. The ownership of shares in a professional accounting corporation shall be subject to the provisions of the Louisiana Accountancy Act.
C. Repealed by Acts 2000, 1st Ex. Sess., No. 30, §2, eff. April 14, 2000.
D. R.S. 12:78 shall not apply to professional accounting corporations.
Added by Acts 1970, No. 191, §1. Amended by Acts 1972, No. 82, §1; Acts 2000, 1st Ex. Sess., No. 30, §§1, 2, eff. April 14, 2000.