Louisiana Revised Statutes 12:209 – Corporations not required to be non-stock corporations
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Terms Used In Louisiana Revised Statutes 12:209
- 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.
A corporation which is not permitted to distribute its net assets to its members upon dissolution may be organized either on a stock basis or on a non-stock basis.
Acts 1968, No. 105, §1; Acts 1987, No. 294, §1, eff. July 5, 1987.