Louisiana Revised Statutes 12:417.1 – Corporate records; disclosure; right of members to inspect
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Terms Used In Louisiana Revised Statutes 12:417.1
- Contract: A legal written agreement that becomes binding when signed.
- Cooperative: means a corporation organized under this Part and a corporation which becomes subject to this Part in the manner hereinafter provided. See Louisiana Revised Statutes 12:402
- Member: means each incorporator of a cooperative and each person admitted to and retaining membership therein, and shall include a husband and wife admitted to joint membership. See Louisiana Revised Statutes 12:402
- Person: includes any natural person, firm, association, corporation, business trust, partnership, federal agency, state or political subdivision or agency thereof, or any body politic. See Louisiana Revised Statutes 12:402
A cooperative shall maintain for inspection by any member of the cooperative or his attorney during regular office hours every contract or agreement of a value in an amount in excess of fifteen thousand dollars. Each person or legal entity which is a party to any such contract or agreement with a cooperative shall submit a sworn statement disclosing any business or personal relationship which exists with a director or officer of that cooperative. The sworn statement shall be attached to all such contracts or agreements.
Added by Acts 1983, No. 636, §1, eff. July 19, 1983.