§ 12:1602 — Definitions

§1602. Definitions
Terms that are defined in the Business Corporation Act have the same meaning in this
Chapter as in that Act. As used in this Chapter:
(1) "Allowed update rule" means a rule of a licensing body allowed by
R.S.12:1604(B) or (C).
(2) "Business entity" means any of the following business organizations: business
corporation, limited liability company, partnership, partnership in commendam, and
registered limited liability partnership.
(3) "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.
(4) "Domestic business entity" means a business entity that is incorporated,
organized, or formed under the laws of this state.
(5) "License" means any license, permit, or certificate issued by any board,
commission, or agency of the state or any of its political subdivisions.
(6) "Licensing body" means the board, commission, or agency of the state or any of
its political subdivisions that issues a license.
(7) "Publicly traded entity" means a business entity that is the issuer of shares,
ownership interests, or other securities that are listed on a national securities exchange or
regularly traded in a market maintained by one or more members of a national securities
association.
(8) "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.

Legislative History

Acts 2006, No. 153, §1, eff. June 2, 2006; Acts 2014, No. 328, §1, eff. Jan. 1, 2015.