Louisiana Revised Statutes 12:1409 – Directors
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Terms Used In Louisiana Revised Statutes 12:1409
- 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.
Only voting shareholders, or voting shareholders of another professional social work corporation, may be directors. If there are fewer than three voting shareholders, there need be only as many directors as voting shareholders. The office of a director shall become vacant if he ceases to be a voting shareholder.
Acts 1997, No. 1169, §1.