If a corporation organized pursuant to this Chapter fails to commence to do business within three years from the effective date of the approval of its articles of incorporation or the granting of its charter by the secretary of state, whichever occurs earlier, then the said charter shall become null and void.
La. R.S. 51:1106
Failure to commence to do business
Known as the Venture Capital Network Law
The act spans §§ 51–51 (16 sections).
Acts 1962, No. 434, §6.
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.