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- Subpart C. Nonprofit Conversion
La. R.S. § 12:1-935 Abandonment of a Nonprofit Conversion
Library | Louisiana Statutes |
Edition | 2023 |
Currency | Current with changes from the 2023 Legislative Session |
Year | 2023 |
Citation | La. R.S. § 12:1-935 |
A. Unless otherwise provided in a plan of nonprofit conversion of a domestic business corporation, after the plan has been adopted and approved as required by this Subpart, and at any time before the nonprofit conversion has become effective, it may be abandoned by the board of directors without action by the shareholders.
B. If a nonprofit conversion is abandoned under Subsection A of this Section after articles of nonprofit conversion or articles of charter surrender have been filed with the secretary of state but before the nonprofit conversion has become effective, a statement that the nonprofit conversion has been abandoned in accordan...
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