Louisiana Revised Statutes 17:2803 – Definitions
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Terms Used In Louisiana Revised Statutes 17:2803
- Cooperative: means a corporation organized under this Chapter and a corporation which becomes subject to this Chapter in the manner provided in this Chapter. See Louisiana Revised Statutes 17:2803
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes any natural person, firm, association, corporation, business trust, partnership, state or political subdivision or agency thereof, or any body politic. See Louisiana Revised Statutes 17:2803
As used in this Chapter, the following terms have the following meanings:
(1) “Cooperative” means a corporation organized under this Chapter and a corporation which becomes subject to this Chapter in the manner provided in this Chapter.
(2) “Member” means each incorporator of a cooperative and each person admitted to and retaining membership therein, and shall include a husband and wife admitted to joint membership.
(3) “Person” includes any natural person, firm, association, corporation, business trust, partnership, state or political subdivision or agency thereof, or any body politic.
Added by Acts 1958, No. 257, §3; Acts 2022, No. 374, §1.