Louisiana Revised Statutes 6:253 – Reservation of shares
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Louisiana Revised Statutes 6:253
- Shares: means the units into which the stockholders' rights to participate in the control of the state bank, in its profits, or in the distribution of corporate assets are divided. See Louisiana Revised Statutes 6:201
A state bank shall reserve from its authorized but unissued shares sufficient shares to meet its issuance obligations under subscription rights, warrants, options, and conversion privileges.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985.