{"data":{"id":"us-la/rs-12-499.5","jurisdiction":"us-la","citation":"RS 12:499.5","heading":"Articles of organization","body":"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:\n(1) Whether transfer of corporation stock is restricted.\n(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.\n(3) Whether the transfer value of corporation stock is restricted.","path":["TITLE 12. CORPORATIONS AND ASSOCIATIONS"],"source_url":"https://www.legis.la.gov/legis/Law.aspx?d=76581","current_through":"2025 First Extraordinary Session","vintage":"","retrieved_at":"2026-09-14T04:51:03Z","sha256":"ab29b01942206a177f4f3b154b2b01576afb2cd03cd2296f3357f373cd4e8cef","source_id":"us-la","stale":false,"prev":"us-la/rs-12-499.4","next":"us-la/rs-12-499.6"},"notice":"GroundRules: Original legal text. Not legal advice."}