Louisiana Revised Statutes 37:3294 – Sole proprietorship, partnership, corporation, association with licensed business
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Terms Used In Louisiana Revised Statutes 37:3294
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
A. This Chapter shall not prohibit one or more businesses from practicing through a partnership, corporation, or association.
B. In any partnership, corporation, or association whose primary activity consists of providing services regulated by this Chapter, at least one partner or corporate officer shall be licensed as a business under this Chapter.
Acts 1984, No. 505, §1, eff. Jan. 1, 1985; Acts 1989, No. 552, §1.