Louisiana § 12:240 Reclassification of stock

Louisiana Statutes

§ 12:240 — Reclassification of stock

Louisiana § 12:240

Title 12Conservation of Cultural Resources

This text of Louisiana § 12:240 (Reclassification of stock) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

La. Stat. Ann. § 12:240 (2026).

Text

A. In case of a reclassification of stock, the articles of amendment shall state:

(1)The number of shares that have a par value and the par value thereof, and the number of shares that have no par value;

(2)If the shares are divided into classes, a description of the classes, a statement of the number of shares in each class, the designation of each class, and a statement of the preferences, limitations and relative rights of the shares of each class; and

(3)If shares are divided into series, the designation of each series and a statement of the variations in the relative rights and preferences. B. Following a reclassification of stock, the aggregate allocated value of the issued shares shall not exceed stated capital.

Free access — add to your briefcase to read the full text and ask questions with AI

A. In case of a reclassification of stock, the articles of amendment shall state:
(1) The number of shares that have a par value and the par value thereof, and the number of shares that have no par value;
(2) If the shares are divided into classes, a description of the classes, a statement of the number of shares in each class, the designation of each class, and a statement of the preferences, limitations and relative rights of the shares of each class; and
(3) If shares are divided into series, the designation of each series and a statement of the variations in the relative rights and preferences.
B. Following a reclassification of stock, the aggregate allocated value of the issued shares shall not exceed stated capital.