Louisiana Revised Statutes 12:1135 – Certificate of stock
Terms Used In Louisiana Revised Statutes 12:1135
- 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.
- Enrolled bill: The final copy of a bill or joint resolution which has passed both chambers in identical form. It is printed on parchment paper, signed by appropriate officials, and submitted to the President/Governor for signature.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- Professional psychology corporation: means a corporation organized pursuant to this Chapter for the practice of psychology. See Louisiana Revised Statutes 12:1130
A. Each certificate of stock shall contain the corporation‘s full name, and the following statement: “Except when held in his own right by a natural person duly licensed to practice psychology or another professional psychology corporation in the state of Louisiana, the shares represented by this certificate are not entitled to be voted or to participate in the earnings of the corporation, and the holder is not entitled to participate in the management of, or in the rendition of psychological services by, the corporation, or to have access to any records or communications pertaining to psychological services rendered by, or any other affairs of, the corporation.”
B. Each certificate of stock shall contain a reference to any and all agreements among the corporation’s voting shareholders made pursuant to La. Rev. Stat. 12:1138.
C. There shall be no provision for compulsory offer of shares for purchase or by sale to the corporation, and, except as provided in La. Rev. Stat. 12:22,1 no restriction upon the transfer of shares, unless, in either event, such provision or restriction is stated or summarized on the certificate representing the shares.
Added by Acts 1980, No. 523, §1.
1So in enrolled bill. Present La. Rev. Stat. 12:22 deals with purposes for incorporation. Former La. Rev. Stat. 12:22, repealed by Acts 1968, No. 105, §1, provided: “If a shareholder be indebted to the corporation on account of unpaid subscriptions for shares, the corporation shall have a vendor’s privilege upon such shares to the extent of this indebtedness.” See, now, La. Rev. Stat. 12:71.