Louisiana Revised Statutes 51:1101 – Definitions
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Terms Used In Louisiana Revised Statutes 51:1101
- Business: includes any commercial type activity whether conducted by an individual, firm, partnership, corporation, association or insurance company, provided such commercial type activity is located and doing business within the state of Louisiana. See Louisiana Revised Statutes 51:1101
- 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.
- Corporation: means a Louisiana business development corporation created under this Chapter. See Louisiana Revised Statutes 51:1101
- 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.
As used in this Chapter, the following words and phrases, unless the text otherwise clearly indicates, shall have the following meanings:
(1) “Corporation” means a Louisiana business development corporation created under this Chapter.
(2) “Persons” includes individuals, firms, partnerships, corporations, trusts, associations and insurance companies.
(3) “Business” includes any commercial type activity whether conducted by an individual, firm, partnership, corporation, association or insurance company, provided such commercial type activity is located and doing business within the state of Louisiana.
Acts 1962, No. 434, §1.