Louisiana Revised Statutes 12:1063 – Dissolution
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Terms Used In Louisiana Revised Statutes 12:1063
- 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 chiropractic corporation: means a corporation organized pursuant to this Chapter for the practice of chiropractic. See Louisiana Revised Statutes 12:1051
A. The fact that it has no shareholders shall be a ground for involuntary dissolution of a professional chiropractic corporation.
B. In the event of the death of a shareholder of a professional chiropractic corporation, said shareholder’s succession representative, or those placed in possession of the shares of said shareholder if there be no administration of the succession, as the case may be, shall be entitled to vote the shares of said shareholder, and to be elected a director and officer of the corporation, for the purpose of effectuating a voluntary dissolution and liquidation of the corporation, in or out of court, pursuant to the Louisiana Business Corporation Law.
Added by Acts 1976, No. 686, §1.