Louisiana § RS 12:1-723 - Shares held by intermediaries and nominees
Full text of Louisiana Louisiana Civil Code § RS 12:1-723 — Shares held by intermediaries and nominees, with citation guidance and answers to common questions.
§ RS 12:1-723. Shares held by intermediaries and nominees
A. A corporation's board of directors may establish a procedure under which a person on whose behalf shares are registered in the name of an intermediary or nominee may elect to be treated by the corporation as the record shareholder by filing with the corporation a beneficial ownership certificate. The extent, terms, conditions, and limitations of this treatment shall be specified in the procedure. To the extent such person is treated under such procedure as having rights or privileges that the record shareholder otherwise would have, the record shareholder shall not have those rights or privileges.
B. The procedure shall specify all of the following information:
(1) The types of intermediaries or nominees to which it applies.
(2) The rights or privileges that the corporation recognizes in a person with respect to whom a beneficial ownership certificate is filed.
(3) The manner in which the procedure is selected, which shall include that the beneficial ownership certificate be signed or assented to by or on behalf of the record shareholder and the person or persons on whose behalf the shares are held.
(4) The information that must be provided when the procedure is selected.
(5) The period for which selection of the procedure is effective.
(6) The requirements for notice to the corporation with respect to the arrangement.
(7) The form and contents of the beneficial ownership certificate.
C. The procedure may specify any other aspects of the rights and duties created by the filing of a beneficial ownership certificate.
Acts 2014, No. 328, §1, eff. Jan. 1, 2015.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 12:1-723
What does Louisiana Civil Code § RS 12:1-723 cover?
Section RS 12:1-723 ("Shares held by intermediaries and nominees") is part of the Louisiana Civil Code, the codified statutory law of Louisiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Louisiana § RS 12:1-723?
A common citation format is "Louisiana Civil Code § RS 12:1-723" (Louisiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Louisiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Louisiana official source linked on this page or consult a licensed Louisiana attorney.
How does Louisiana § RS 12:1-723 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Louisiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Louisiana.