RS 6:251 – Classes of shares; fractional shares A. The shares of a state bank may be divided into classes with such designations, voting powers, preferences, dividend or other relative rights or restrictions, limitations, or qualifications as may be provided in the articles, with the prior approval of the commissioner. The state bank may issue […]
RS 6:252 – Issuance of shares; consideration A. Shares shall be issued initially for such consideration expressed in dollars, not less than the par value thereof, as shall be fixed in the articles as approved by the commissioner. All fully paid shares shall be nonassessable except as provided in R.S. 6:262. B. Shares issued in […]
RS 6:253 – Reservation of shares A state bank shall reserve from its authorized but unissued shares sufficient shares to meet its issuance obligations under subscription rights, warrants, options, and conversion privileges. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
RS 6:254 – Convertible securities and stock-purchase rights A. Unless the articles provide otherwise and with prior notice to the commissioner, the board of directors of a state bank shall have authority, whether or not in connection with the issuance and sale of any of its shares or other securities, to create and issue rights […]
RS 6:255 – Certificates of stock A. Shares must be represented by certificates of stock unless the issuing corporation is a participant in the Direct Registration System, or its successor, of the Depository Trust & Clearing Corporation, then shares need not be represented by certificates of stock. Unless expressly provided elsewhere, the rights and obligations […]
RS 6:256 – Transfer of shares A. The transfer of certificates of stock and the shares represented thereby may be regulated by bylaws not inconsistent with the provisions of the articles or other provisions of the law. B. A state bank may employ a transfer agent to keep a share register and to record transfers […]
RS 6:257 – Restriction on transfer of shares and other securities A. For purposes of this Section, "share" includes a security convertible into or carrying a right to subscribe or acquire shares. B. A corporation’s articles of incorporation or bylaws, an agreement among shareholders or an agreement between shareholders and the corporation, may impose restrictions […]
