{
  "urn": "urn:us-la:rs:51:2394",
  "title_number": "51",
  "section_number": "2394",
  "citation": "R.S. 51:2394",
  "heading": "Corporate or company matters",
  "text": "A. The corporate or limited liability company name of each licensee shall include the word \"BIDCO\". A licensee shall not transact business under a name other than its corporate name or limited liability company name.\n\nB.(1) The board of directors of each licensee shall consist of not less than five directors. If the licensee is a limited liability company, it shall have at least five managers who are natural persons.\n\n(2) The board of directors or managers of each licensee shall hold a meeting not less than once each month.\n\nC. Within thirty days after the death, resignation, or removal of a director, manager, or officer, the election of a director, or the appointment of an officer, the licensee shall notify the commissioner in writing of the event and shall provide any additional information which the commissioner may require.",
  "status": "active",
  "hierarchy_path": [
    {
      "level": "title",
      "number": "51",
      "name": "TRADE AND COMMERCE"
    },
    {
      "level": "chapter",
      "number": "39-B",
      "name": "LOUISIANA BUSINESS AND INDUSTRIAL DEVELOPMENT COMPANY ACT"
    }
  ],
  "breadcrumb": "Title 51 › Chapter 39-B",
  "acts_citations": [
    {
      "act_year": 1991,
      "act_number": 506,
      "section": 1,
      "effective_date": null,
      "effective_date_raw": null,
      "role": "enactment"
    },
    {
      "act_year": 2004,
      "act_number": 806,
      "section": 1,
      "effective_date": null,
      "effective_date_raw": null,
      "role": "amendment"
    }
  ],
  "acts_citations_raw": "Acts 1991, No. 506, §1; Acts 2004, No. 806, §1.",
  "source_url": "https://legis.la.gov/legis/Law.aspx?d=104383",
  "website_law_id": 104383,
  "scrape_timestamp": "2026-05-22T23:45:40Z",
  "source_html_hash": "sha256:37e5ff18f2c0ddc8387ce0a9fe1a99bd6b02f166a012de14e9c52fe1eb4eeb23",
  "schema_version": "1.0.0"
}