Terms Used In Louisiana Revised Statutes > Title 17 > Chapter 1 > Part I > Subpart C - General Provisions

• Articles of organization: means documents filed under La. See Louisiana Revised Statutes 12:1301
• Business: means any trade, occupation, profession, or other commercial activity, including but not limited to professions licensed by a state or other governmental agency whether or not engaged in for profit. See Louisiana Revised Statutes 12:1301
• interest: means a member's rights in a limited liability company, collectively, including the member's share of the profits and losses of the limited liability company, the right to receive distributions of the limited liability company's assets, and any right to vote or participate in management. See Louisiana Revised Statutes 12:1301
• Member: means a person with a membership interest in a limited liability company with the rights and obligations specified under this Chapter. See Louisiana Revised Statutes 12:1301
• Operating agreement: means any agreement, written or oral, of the members as to, or in the case of a limited liability company having a single member, any written agreement between the member and the company memorializing the affairs of a limited liability company and the conduct of its business. See Louisiana Revised Statutes 12:1301
• person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• student: means any child or children between the ages of six and fifteen whose attendance at a public or private day school is required by La. See Louisiana Revised Statutes 17:2990.2