Louisiana Revised Statutes 12:906 – Certificate of stock
Terms Used In Louisiana Revised Statutes 12:906
- 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
- professional medical corporation: means a corporation organized pursuant to this Chapter for the practice of medicine or podiatry. See Louisiana Revised Statutes 12:901
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 medicine in the state of Louisiana or by another professional medical corporation, 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 medical services by, the corporation, or to have access to any records or communications pertaining to medical 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. 12:909.
C. There shall be no provision for compulsory offer of shares for purchase by or 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 1968, No. 27, §1. Amended by Acts 1982, No. 870, §1.
1As it appears in Act 27 of 1968.