§ 12:905 — Shares

§905. Shares
A. There shall be only one class of shares of a professional medical
corporation, denominated common shares which shall be either with or without
par value.
B. Either a shareholder who is a natural person duly licensed to
practice medicine in this state, and who holds his shares in his own right, or
another professional medical corporation, shall be entitled to vote such shares,
and to participate in the corporation's earnings. Any other shareholder shall
have no voting rights for any purpose whatever, shall not participate in the
corporation's earnings, and shall have no access to any records or
communications pertaining to medical services rendered by, or any other
affairs of, the corporation, except as provided in R.S. 12:913(B).
C. R.S. 12:33 shall not apply to professional medical corporations.

Legislative History

Added by Acts 1968, No. 27, §1. Amended by Acts 1972, No. 319, §1; Acts 1979, No. 172, §1.