Louisiana § RS 12:499.5 - Articles of organization
Full text of Louisiana Louisiana Civil Code § RS 12:499.5 — Articles of organization, with citation guidance and answers to common questions.
§ RS 12:499.5. Articles of organization
Three or more persons who are residents of this state, may organize a cooperative housing corporation by filing articles of organization with the secretary of state. The articles shall meet the requirements of Chapter 2 of this Title, and in addition, shall state the following:
(1) Whether transfer of corporation stock is restricted.
(2) Whether or not the corporation shall be authorized to pay dividends on its stock, but no cooperative housing corporation shall pay a dividend of more than six percent, noncumulative, upon its stock.
(3) Whether the transfer value of corporation stock is restricted.
Acts 1990, No. 857, §1.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 12:499.5
What does Louisiana Civil Code § RS 12:499.5 cover?
Section RS 12:499.5 ("Articles of organization") 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 12:499.5?
A common citation format is "Louisiana Civil Code § RS 12:499.5" (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 12:499.5 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.