La. Corporations and Associations § 12:1055

Current with operative changes from the 2024 Third Special Legislative Session

Section 12:1055 - Shares

A. There shall be only one class of shares of a professional chiropractic corporation, denominated common shares which shall be either with or without par value.

B. A shareholder who is a natural person duly licensed to practice chiropractic in this state, and who holds his shares in his own right, shall be entitled to vote his shares, and to participate in the corporation's earnings. Any other shareholder shall have no voting rights for any purpose directly related to the practice of chiropractic by the corporation.

R.S. 12:78 shall not apply to professional chiropractic corporations.

La. Corporations and Associations § 12:1055

Added by Acts 1976, No. 686, §1.