Louisiana Revised Statutes 12:447 – Members
Terms Used In Louisiana Revised Statutes 12:447
- Association: means an association organized under this Part. See Louisiana Revised Statutes 12:443
- Member: means an actual member of an association without capital stock and the holder of common stock in an association organized with capital stock. See Louisiana Revised Statutes 12:443
- Person: includes individuals, firms, partnerships, corporations, and associations. See Louisiana Revised Statutes 12:443
- Skins and furs: include all the skins and furs of all quadrupeds valuable for their skins or furs, including but not limited to alligators, minks, otter, muskrats, beaver, raccoons, opossums, weasels, spotted skunks, or "civet cats". See Louisiana Revised Statutes 12:443
A. Under the terms and conditions prescribed by its bylaws, an association may admit as members, or issue common stock or certificates of membership to such persons as are engaged in the business of catching, gathering, preserving, drying, processing, manufacturing, canning, packing, grading, storing, shipping, or utilization of seafood products, skins and furs, or the byproducts thereof, to be handled by or through the association. Certificates of membership issued by a nonstock association shall not be transferrable, and no person shall acquire common stock by operation of law or otherwise, except as provided herein.
B. If a member of a non-stock association is other than a natural person, such member may be represented by any individual, associate, officer, manager or member thereof, duly authorized in writing.
C. An association organized hereunder may become a member or stockholder of any other association organized hereunder.
Renumbered from R.S.1950, §12:357 by Acts 1968, No. 105, §3, eff. Jan. 1, 1969; Acts 1999, No. 341, §1.