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.
La. R.S. 12:209
Corporations not required to be non-stock corporations
Acts 1968, No. 105, §1; Acts 1987, No. 294, §1, eff
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.