Louisiana Revised Statutes 12:466 – Breach of marketing contract and knowingly spreading false reports concerning finances and management
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Terms Used In Louisiana Revised Statutes 12:466
- Association: means an association organized under this Part. See Louisiana Revised Statutes 12:443
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- 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
Any person or any corporation whose officer or employee knowingly induces, or attempts to induce, any member of an association to breach his marketing contract with the association, or who knowingly spreads false reports about the finances or management of said association, shall be guilty of a misdemeanor and shall be subject to a fine of no less than one hundred dollars, nor more than one thousand dollars, for each offense. Such person or corporation shall be liable to the association aggrieved, in a civil suit, in the penal sum of one thousand dollars for each such offense.
Renumbered from R.S.1950, §12:376 by Acts 1968, No. 105, §3, eff. Jan. 1, 1969.