Usufruct
R.S. 12:1017

Liability of incorporators, subscribers, shareholders, directors, officers, and agents ACTIVE

A. A subscriber to, or holder of, shares of a professional accounting corporation shall be under no liability to the corporation with respect to such shares, other than the obligation of complying with the terms of the subscription therefor, and the said obligation shall continue whether or not his rights or shares have been assigned or transferred.

B. The shareholder shall not be personally liable for any debt or liability of the corporation.

C. Nothing in this Chapter shall be construed as in derogation of any rights which any person may by law have against an incorporator, subscriber, shareholder, director, officer, or agent of the corporation, because of any fraud practiced upon him, or because of any breach of professional duty or other negligent or wrongful act, by such persons, or in derogation of any right which the corporation may have against any of such persons because of any fraud practiced upon it by him.

Actions

JSON Markdown Source (legis.la.gov)

References

None.

Cited by

None.

History

  • enactment Acts 1970, No. 191, §1
  • amendment Acts 1987, No. 135, §1
  • amendment Acts 2000, No. 30, §1, eff. April 14, 2000

Section navigation

Cite R.S. 12:1017

Bluebook
La. Rev. Stat. Ann. § 12:1017 (2026).
Permalink
https://theusufruct.com/rs/title-12/section-1017
BibTeX
@misc{larevstat-12-1017,
  title        = {La. Rev. Stat. Ann. § 12:1017},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-12/section-1017},
  note         = {Snapshot 2026-05-22}
}