Usufruct
R.S. 12:965

Dissolution; distribution of assets ACTIVE

The corporation may be dissolved upon the affirmative vote of two-thirds of the votes to which the stockholders shall be entitled and two-thirds of the votes to which the members shall be entitled. Upon any dissolution of the corporation, none of the corporation's assets shall be distributed to the stockholders until all sums due the members who are also creditors of the corporation have been paid in full.

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JSON Markdown Source (legis.la.gov)

References

None.

Cited by

History

  • enactment Acts 1969, No. 49, §15
  • amendment Acts 2003, No. 292, §1

Section navigation

Cite R.S. 12:965

Bluebook
La. Rev. Stat. Ann. § 12:965 (2026).
Permalink
https://theusufruct.com/rs/title-12/section-965
BibTeX
@misc{larevstat-12-965,
  title        = {La. Rev. Stat. Ann. § 12:965},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-12/section-965},
  note         = {Snapshot 2026-05-22}
}