§ 12:1804 — Election of status; corporate name

Louisiana § 12:1804

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

Text

§1804. Election of status; corporate name
A. A business corporation incorporated in accordance with R.S. 12:1-201 et seq.,
may elect to be a benefit corporation under this Chapter by stating in its articles that it is a
benefit corporation subject to this Chapter.
B. Any amendment to the articles of an existing business corporation to add a
statement that it is a benefit corporation subject to this Chapter shall be adopted by at least
the minimum vote. The notice of the meeting of shareholders to approve the amendment
shall state the specific public benefits, if any, to be included in the purposes of the benefit
corporation and shall explain the anticipated impact on shareholders of becoming a benefit
corporation.
C. If an entity that is not a benefit corporation is a party to a merger or consolidation,
and the surviving or new entity in the merger or consolidation is to be a benefit corporation,
then the plan of merger or consolidation shall be adopted by at least the minimum vote.
D. The corporate name of a benefit corporation shall end with the following phrase,
which may be in parentheses, "A Benefit Corporation".

Legislative History

Acts 2012, No. 442, §1; Acts 2019, No. 19, §2, eff. May 28, 2019.