§ 12:1099 — Dissolution

Louisiana § 12:1099

• Jurisdiction: Louisiana
• Title 12: Conservation of Cultural Resources

Text

§1099. Dissolution
A. The fact that it has less than a majority of outstanding shares held
by one or more natural persons duly licensed to practice architecture in this
state shall be an additional ground for involuntary dissolution of a professional
architectural corporation.
B. In the event of the death of a shareholder of a professional
architectural corporation, said shareholder's succession representative or those
placed in possession of the shares of said shareholder if there be no
administration of the succession, as the case may be, shall be entitled to vote
the shares of said shareholder and to be elected a director and officer of the
corporation for the purposes of effectuating a voluntary dissolution and
liquidation of the corporation, in or out of court, pursuant to the Louisiana
Business Corporation Law, or for the purpose of reorganizing or continuing
the corporation subject to the provisions of this Chapter.

Legislative History

Added by Acts 1979, No. 225, §1, eff. July 9, 1979.