The Commission’s aim is for the regulation to apply from , which is purposefully the same date as the GDPR comes into force.
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This bill reinstitutes that concept to prevent the need for the time consuming and costly process of dissolution for this limited purpose.
Act 89 adds a fourth provision that allows the juridical personality of a terminated corporation to continue for the purpose of disposing of immovable property owned by the corporation pursuant to a resolution of the board of directors. Upshot: The recent revision to the Business Corporation Act repealed a provision that allowed a corporation administratively terminated by the Louisiana Secretary of State for failure to file an annual report to maintain its existence for purposes of selling property belonging to the corporation, rather than dissolving the corporation as would be necessary under current law. Act 244 changes the period of prescription on a claim of privilege filed by a condominium association against a condominium parcel from one year to five years, the same period applicable to liens under the Louisiana Homeowners Association Act (R.
Concluding any proceeding to which the corporation is a party at the time of the termination. Continuing to own any undistributed corporate assets and to owe any undischarged corporate obligations or liabilities. 23.115, the provision of the Louisiana Condominium Act concerning a condominium association’s right to a privilege on a condominium parcel for unpaid assessments and other amounts, and provides the proper procedure for asserting that privilege. The amendments make clear that if a trust instrument contains a conveyance of immovable property, then the trust instrument itself, rather than just an extract of trust, must be filed in the parish in which the property is located.
HB 286 – Act 544 amends certain provisions of the Louisiana Trust Code dealing with recordation of trust instruments or extracts of trust.