Limited Liability Company Law

Louisiana · Corporations and Associations · §§ 12-1190 to 12-1370 · 93 sections

Overview

This act governs the formation and operation of limited liability companies, a business form whose owners and managers are shielded from personal liability for the company's obligations. It sets out how a company comes into existence and maintains its standing — articles of organization, name reservation and registration, a registered office and agent, annual reporting with consequences for lapses, amendment and conversion — and defines the internal structure through which it acts, including management by members or by elected managers, voting rights, the agency power to bind the company, and members' access to company records. It also fixes the duties owed by members and managers, the limits of their liability to the company and to third parties, and the terms on which they may be indemnified.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.

Sections covered

La. R.S. 12:1190PROFESSIONAL OCCUPATIONAL
La. R.S. 12:1191Professional corporations
La. R.S. 12:1192Corporate name
La. R.S. 12:1193Corporate authority
La. R.S. 12:1194Shares
La. R.S. 12:1195Certificate of stock
La. R.S. 12:1196Liability of incorporators, subscribers, shareholders, directors, officers, and agents
La. R.S. 12:1197Action of shareholders
La. R.S. 12:1198Shareholders' agreements
La. R.S. 12:1199Directors
La. R.S. 12:1200Officers and agents
La. R.S. 12:1201Merger and consolidation
La. R.S. 12:1202Dissolution
La. R.S. 12:1203Regulation by Louisiana State Board of Medical Examiners
La. R.S. 12:1204Short title
La. R.S. 12:1301Definitions
La. R.S. 12:1302Purpose
La. R.S. 12:1303Powers
La. R.S. 12:1304Formation
La. R.S. 12:1305Articles of organization; initial report
La. R.S. 12:1306Name
La. R.S. 12:1307Reservation of name; transfer of reserved name
La. R.S. 12:1308Registered office and registered agent
La. R.S. 12:1308.1Annual report
La. R.S. 12:1308.2Failure to file annual report; revocation and reinstatement of articles; limitation on authority to do business with the state
La. R.S. 12:1308.3Conversion of state of organization
La. R.S. 12:1309Amendment of articles of organization
La. R.S. 12:1310Certificates of correction
La. R.S. 12:1310.1Retroactivity of company's existence; acquisition of immovable property prior to limited liability company's existence
La. R.S. 12:1311Management by members
La. R.S. 12:1312Managers
La. R.S. 12:1313Election and removal of managers
La. R.S. 12:1314Duties of members and managers
La. R.S. 12:1315Limitation of liability and indemnification of members and managers
La. R.S. 12:1316Voting by managers
La. R.S. 12:1317Agency power of managers or members
La. R.S. 12:1317.1Company representation; state entities
La. R.S. 12:1318Voting rights of members
La. R.S. 12:1319Records and information
La. R.S. 12:1320Liability to third parties of members and managers
La. R.S. 12:1321Contributions to capital
La. R.S. 12:1322Liability for contribution
La. R.S. 12:1323Sharing of profits and losses
La. R.S. 12:1324Interim distributions
La. R.S. 12:1325Distributions upon withdrawal
La. R.S. 12:1326Distribution in kind
La. R.S. 12:1327Restrictions on making distributions
La. R.S. 12:1328Liability upon wrongful distribution
La. R.S. 12:1329Nature of membership interest
La. R.S. 12:1330Assignment of membership interest
La. R.S. 12:1331Rights of judgment creditor
La. R.S. 12:1332Right of assignee to become a member
La. R.S. 12:1333Powers of estate of a deceased or incompetent member
La. R.S. 12:1333.1Single-member limited liability company; powers of the estate succession representative
La. R.S. 12:1334Dissolution
La. R.S. 12:1335Judicial dissolution
La. R.S. 12:1335.1Dissolution by affidavit
La. R.S. 12:1336Winding up
La. R.S. 12:1337Distribution of assets
La. R.S. 12:1338Claims against limited liability company in liquidation; peremption
La. R.S. 12:1339Articles of dissolution
La. R.S. 12:1340Certificate of dissolution; assets omitted from liquidation; post-dissolution proceedings
La. R.S. 12:1341Liability of members of dissolved limited liability companies
La. R.S. 12:1342Admission of foreign limited liability company
La. R.S. 12:1343Transactions not constituting transacting business
La. R.S. 12:1344Name of authorized foreign limited company
La. R.S. 12:1345Application for certificate of authority
La. R.S. 12:1346Issuance of certificate of authority
La. R.S. 12:1347Effect of certificate of authority
La. R.S. 12:1348Amended certificate of authority
La. R.S. 12:1349Certificate of correction by a foreign limited liability company
La. R.S. 12:1350Registered agent; registered office and principal business establishment; keeping of records by foreign limited liability company
La. R.S. 12:1350.1Annual report
La. R.S. 12:1351Withdrawal
La. R.S. 12:1352Termination of withdrawal proceedings
La. R.S. 12:1353Revocation or suspension of certificate of authority; limitation on authority to do business with the state
La. R.S. 12:1354Transacting business without authority
La. R.S. 12:1355Authority to investigate; penalty
La. R.S. 12:1356Repealed by Acts 2017, No. 367, §3.
La. R.S. 12:1357Merger or consolidation
La. R.S. 12:1358Agreement of merger or consolidation
La. R.S. 12:1359Approval of merger or consolidation
La. R.S. 12:1360Certificate of merger or consolidation
La. R.S. 12:1361Effects of merger or consolidation
La. R.S. 12:1362Merger or consolidation with foreign entity
La. R.S. 12:1363Revocation and reinstatement of articles; limitation on authority to do business within the state
La. R.S. 12:1364Filing, service, and copying fees
La. R.S. 12:1365Derivative actions
La. R.S. 12:1366Applicability of provisions to foreign and interstate commerce
La. R.S. 12:1367Rules of construction
La. R.S. 12:1368Taxation
La. R.S. 12:1369Short title
La. R.S. 12:1370Voting trusts

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