Terms Used In Louisiana Revised Statutes 40:600.107

  • 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.

The state may make grants or appropriations of money or property to the corporation for the purpose of enabling it to carry out its public functions and corporate purposes.

Acts 2011, No. 408, §1, eff. July 5, 2011.