Louisiana Revised Statutes 6:741 – Authorized capital
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Terms Used In Louisiana Revised Statutes 6:741
- Association: means a savings association, thrift institution, homestead, building and loan association, savings and loan association, or society, including both capital stock and mutual associations. See Louisiana Revised Statutes 6:703
- Mutual association: means an association, not having capital stock ownership and operating in the mutual form. See Louisiana Revised Statutes 6:703
- Stock: means capital stock of a capital stock association. See Louisiana Revised Statutes 6:703
The authorized capital of a stock association shall be as provided in its articles of incorporation. The authorized capital of a mutual association shall be unlimited and the actual accumulative capital at any time shall be deemed the authorized capital at such time. No association shall be deceptive in advertising the amount of its capital.
Acts 1970, No. 234, §1. Acts 1983, No. 675, §1.