Louisiana Revised Statutes 12:1-1622 – Reporting obligation of corporation that contracts with the state
Terms Used In Louisiana Revised Statutes 12:1-1622
- Contract: A legal written agreement that becomes binding when signed.
- 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.
A. A corporation that contracts with the state shall deliver for filing to the secretary of state a statement that acknowledges the contract. The statement shall include the names and addresses of all persons or entities who hold an ownership interest of five percent or more in the corporation or who hold by proxy the voting power of five percent or more in the corporation and, if anyone holds stock in his own name that actually belongs to another, the name of the person for whom held, including stock held pursuant to a counterletter.
B. This Subsection does not apply to any of the following:
(1) Any agreement entered between the state and a corporation for electric or gas service.
(2) Publicly traded corporations.
(3) State-chartered banks.
Acts 2014, No. 328, §1, eff. Jan. 1, 2015.