{"data":{"id":"us-la/rs-12-1-1437","jurisdiction":"us-la","citation":"RS 12:1-1437","heading":"Stay of duplicative proceedings","body":"A. On motion by the corporation, a court shall stay a duplicative proceeding by a shareholder who has given a notice of withdrawal to the corporation as provided in R.S. 12:1-1435(D). The court shall lift the stay on motion by the shareholder when a judgment denying the shareholder's right to withdraw becomes final and definitive.\nB. For purposes of this Section, a \"duplicative proceeding\" is any proceeding in which a shareholder, on his own behalf or as a representative of the corporation, alleges a cause of action against the corporation, or against a director, officer, agent, employee, or controlling person of the corporation, on grounds of a breach of duty owed by that person to the corporation or to the shareholder in the shareholder's capacity as shareholder.","path":["TITLE 12. CORPORATIONS AND ASSOCIATIONS"],"source_url":"https://www.legis.la.gov/legis/Law.aspx?d=920448","current_through":"2025 First Extraordinary Session","vintage":"","retrieved_at":"2026-09-14T04:50:55Z","sha256":"ef4e56a9e6df1b227f1ba490f60f7304f76bb0ed86994ee6561dfcf94183184e","source_id":"us-la","stale":false,"prev":"us-la/rs-12-1-1436","next":"us-la/rs-12-1-1438"},"notice":"GroundRules: Original legal text. Not legal advice."}