Usufruct
R.S. 12:1116

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

A. A subscriber to or holder of shares in a professional optometry 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 said obligation shall continue whether or not his rights or shares have been assigned or transferred.

B. A 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 neglect or wrongful act, by such person 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.

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JSON Markdown Source (legis.la.gov)

References

None.

Cited by

None.

History

  • enactment Acts 1980, No. 404, §1

Section navigation

Cite R.S. 12:1116

Bluebook
La. Rev. Stat. Ann. § 12:1116 (2026).
Permalink
https://theusufruct.com/rs/title-12/section-1116
BibTeX
@misc{larevstat-12-1116,
  title        = {La. Rev. Stat. Ann. § 12:1116},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-12/section-1116},
  note         = {Snapshot 2026-05-22}
}