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The previous Louisiana corporate act was enacted effective January 1, 1969 as a result of Louisiana losing corporations to other states for income tax and corporate law reasons. The Louisiana BCA was adopted to further modernize Louisiana’s corporate law. As of January 1, 2015, the Louisiana BCA applies to all Louisiana corporations for profit, not just Louisiana corporations for profit formed on or after January 1, 2015.
All corporations incorporating after January 1, 2015 will need to account for the changes reflected in the Louisiana BCA in their formation documents. In addition, because the Louisiana BCA applies to corporations formed before January 1, 2015, existing corporations should review their Articles of Incorporation and other organizational documents to determine whether the change in the law necessitates any revisions to those or other organizational documents. |