{
  "urn": "urn:us-la:rs:12:240",
  "title_number": "12",
  "section_number": "240",
  "citation": "R.S. 12:240",
  "heading": "Reclassification of stock",
  "text": "A. In case of a reclassification of stock, the articles of amendment shall state:\n\n(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;\n\n(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\n\n(3) If shares are divided into series, the designation of each series and a statement of the variations in the relative rights and preferences.\n\nB. Following a reclassification of stock, the aggregate allocated value of the issued shares shall not exceed stated capital.",
  "status": "active",
  "hierarchy_path": [
    {
      "level": "title",
      "number": "12",
      "name": "CORPORATIONS AND ASSOCIATIONS"
    },
    {
      "level": "chapter",
      "number": "2",
      "name": "NONPROFIT CORPORATION LAW"
    }
  ],
  "breadcrumb": "Title 12 › Chapter 2",
  "acts_citations": [
    {
      "act_year": 1968,
      "act_number": 105,
      "section": 1,
      "effective_date": null,
      "effective_date_raw": null,
      "role": "enactment"
    }
  ],
  "acts_citations_raw": "Acts 1968, No. 105, §1.",
  "source_url": "https://legis.la.gov/legis/Law.aspx?d=76433",
  "website_law_id": 76433,
  "scrape_timestamp": "2026-05-22T21:49:04Z",
  "source_html_hash": "sha256:ca4c95a998ab5e18250a39cbcbf6752b538cb69644e9eb55ba223749dff0fee3",
  "schema_version": "1.0.0"
}