Terms Used In Louisiana Revised Statutes 12:808

  • 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.
  • Quorum: The number of legislators that must be present to do business.

Any action by, or requiring the assent of, the shareholders of a professional law corporation may be taken on the affirmative vote of a majority (or such greater proportion as the articles of incorporation may specify) in interest of the voting shareholders present or represented at a meeting duly called and held on due notice, at which a quorum is present or represented.  

Added by Acts 1964, No. 354, §1.  Renumbered from La. Rev. Stat. 1950, §12:908 by Acts 1968, No. 105, §3, eff. Jan. 1, 1969.