Usufruct
R.S. 12:240

Reclassification of stock ACTIVE

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.

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JSON Markdown Source (legis.la.gov)

References

None.

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History

  • enactment Acts 1968, No. 105, §1

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Cite R.S. 12:240

Bluebook
La. Rev. Stat. Ann. § 12:240 (2026).
Permalink
https://theusufruct.com/rs/title-12/section-240
BibTeX
@misc{larevstat-12-240,
  title        = {La. Rev. Stat. Ann. § 12:240},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-12/section-240},
  note         = {Snapshot 2026-05-22}
}