Louisiana Revised Statutes 12:1023 – Dissolution
Terms Used In Louisiana Revised Statutes 12:1023
- 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 accounting corporation: means a corporation organized pursuant to this Chapter and meeting the requirements to obtain a permit as a certified professional accounting firm as provided for by the Louisiana Accountancy Act, Louisiana Revised Statutes 12:1011
A. The fact that it has no voting shareholders shall be an additional ground for involuntary dissolution of a professional accounting corporation.
B. In the event of the death of a shareholder of a professional accounting corporation, said shareholder’s succession representative, or those placed in possession of the shares of said shareholder if there be no administration of the succession, as the case may be, shall be entitled to vote the shares of said shareholder, and to be elected a director and officer of the corporation, for the purpose of effectuating a voluntary dissolution and liquidation of the corporation, in or out of court, pursuant to the Louisiana Business Corporation Law.
Added by Acts 1970, No. 191, §1. Amended by Acts 1972, No. 83, §1.