Louisiana Revised Statutes 51:283 – This Subpart does not apply to any corporation duly organized under the laws of Louisiana or lawfully doing business in Louisiana. This Subpart shall not prevent the lawful use of a partne
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Terms Used In Louisiana Revised Statutes 51:283
- 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.
- 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.
This Subpart does not apply to any corporation duly organized under the laws of Louisiana or lawfully doing business in Louisiana. This Subpart shall not prevent the lawful use of a partnership name or designation, if the partnership name or designation includes the real name of at least one of the persons transacting the business.