Louisiana Revised Statutes 12:1055 – Shares
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Terms Used In Louisiana Revised Statutes 12:1055
- 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.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
A. There shall be only one class of shares of a professional chiropractic corporation, denominated common shares which shall be either with or without par value.
B. A shareholder who is a natural person duly licensed to practice chiropractic in this state, and who holds his shares in his own right, shall be entitled to vote his shares, and to participate in the corporation’s earnings. Any other shareholder shall have no voting rights for any purpose directly related to the practice of chiropractic by the corporation.
C. La. Rev. Stat. 12:78 shall not apply to professional chiropractic corporations.
Added by Acts 1976, No. 686, §1.