Since 1968, Louisiana law has recognized nonprofit corporations as a distinct business entity, providing organizations with a structured legal framework to pursue charitable, religious, educational, and other nonprofit purposes while benefiting from important legal and financial advantages. In 2015, Louisiana enacted the current Louisiana Nonprofit Corporation Act (the “Louisiana Nonprofit Act”),[1] which
An estimated 32 million companies are now facing new compliance obligations due to the Corporate Transparency Act (“CTA”), which aims to enhance transparency in corporate ownership and curb money laundering, terrorism financing and other financial crimes. The CTA, which took effect on January 1, 2024, represents a significant shift in the ownership information
Earlier this year, Governor John Bel Edwards signed into law House Bill No. 515, amending La. R.S. 12:1333 and enacting the new La. R.S. 12:1333.1 of the Louisiana Limited Liability Company Law (the “LLC Law”), which became effective on August 1, 2022. This legislation represents meaningful changes to the nature of membership interests in Louisiana