Louisiana Revised Statutes 12:804 – Corporate authority
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Terms Used In Louisiana Revised Statutes 12:804
- 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.
- Professional law corporation: means a corporation organized pursuant to this Chapter or the laws of any qualified state for the practice of law. See Louisiana Revised Statutes 12:801
A professional law corporation shall engage in no business other than the practice of law, but may hold property for investment or in connection with its legal practice. A professional law corporation may hold a title insurance agency license and serve as a title insurance agent in accordance with Title 22 of the Louisiana Revised Statutes of 1950.
Added by Acts 1964, No. 354, §1. Renumbered from La. Rev. Stat. 1950, §12:904 by Acts 1968, No. 105, §3, eff. Jan. 1, 1969; Acts 1997, No. 610, §1.