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Louisiana LLC Act
In order to create a limited liability company in Louisiana, business owners must follow guidelines outlined in the state's Limited Liability Company Law. The law, which was passed in 1992, allows one or more persons to form LLCs in the state. The Louisiana Secretary of State's office regulates LLCs and offers online registration as well as downloadable LLC forms for mailing, faxing or filing out person.
Name Requirements
An LLC in Louisiana must contain the words "limited liability company" in its name or the abbreviations "L.C." or "L.L.C." LLCs that intend to offer engineering or surveying services must obtain approval from the Louisiana Professional Engineering and Land Surveying Board before registering with the state. LLCs that include words denoting financial services such as "trust," "bank" or "credit union" must receive approval from the state's office of financial institutions before filing LLC registration documents. Business names can be reserved for a period of 60 days while a business owner prepares to register his LLC.
Registered Agents
Per the LLC Law, all LLCs in Louisiana must continuously maintain a registered agent with an office within the state. The registered agent can be an individual who is a Louisiana resident or a business authorized to transact business in the state. If an LLC hires a new registered agent or if the registered agent's information changes, the LLC must notify the secretary of state.
Formation
In order for LLC members to legally conduct business in Louisiana, an initial report and "Articles of Organization" must be filed with the commercial division of the secretary of state. The person who files the documents does not have to be an LLC member. The initial report contains basic details about the company, the names of managers and the signature of the registered agent. This document must be notarized. The articles also include basic company details, a dissolution date if applicable and any other provisions that the members want to include. If there are changes to any information in the articles, the LLC must file an amendment with the state.
Members and Managers
LLC members may manage the company or appoint managers to make decisions. Managers do not have to be members of the LLC. While an LLC is not required to file an operating agreement with Louisiana, the LLC law does outline provisions about member and manager responsibilities, voting, member removal, profit sharing and liability.
Annual Report
LLC's are required to file annual reports with the secretary of state. The report includes basic details about the company and, if applicable, the number of shares issues by the LLC for each class of stock.
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