---
urn: urn:us-la:rs:12:1303
citation: "R.S. 12:1303"
status: active
breadcrumb: "Title 12 › Chapter 22 › Part II"
acts_citations:
  - { year: 1992, number: 780, section: 2, effective_date: 1992-07-07, role: enactment }
  - { year: 1993, number: 475, section: 4, effective_date: 1993-06-09, role: amendment }
  - { year: 1997, number: 717, section: 1, effective_date: 1997-07-08, role: amendment }
---

# Powers

A. All limited liability companies, regardless of date of organization, shall have the powers, rights, and privileges provided for a corporation organized under the Business Corporation Law (R.S. 12:1 et seq.), and provided for a partnership organized under Title XI of Book III of the Louisiana Civil Code.

B. Without limiting the grant of powers, rights, and privileges contained in Subsection A of this Section, every limited liability company shall have perpetual existence, unless a limited period of duration is stated in the articles of organization.