Terms Used In Louisiana Revised Statutes > Title 12 > Chapter 25 - Conversions of Business Organizations

• Allowed update rule: means a rule of a licensing body allowed by R. See Louisiana Revised Statutes 12:1602
• Business entity: means any of the following business organizations: business corporation, limited liability company, partnership, partnership in commendam, and registered limited liability partnership. See Louisiana Revised Statutes 12:1602
• Converting entity: means a domestic business corporation or domestic unincorporated entity as it exists before the effective date of an entity conversion under the Business Corporation Act. See Louisiana Revised Statutes 12:1602
• Domestic business entity: means a business entity that is incorporated, organized, or formed under the laws of this state. See Louisiana Revised Statutes 12:1602
• License: means any license, permit, or certificate issued by any board, commission, or agency of the state or any of its political subdivisions. See Louisiana Revised Statutes 12:1602
• Licensing body: means the board, commission, or agency of the state or any of its political subdivisions that issues a license. See Louisiana Revised Statutes 12:1602
• 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.
• Surviving entity: means a domestic business corporation or domestic unincorporated entity as it exists immediately after the consummation of an entity conversion under the Business Corporation Act. See Louisiana Revised Statutes 12:1602