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Louisiana – Revisions to Business Corporations Act

House Bill 310 (Act No. 57) signed by the governor June 3 and effective August 1 revises the Business Corporations Act to extend the period for reinstatement of a terminated corporation from 3 to 5 years and includes changes regarding quorum requirements for shareholders, venue for derivative proceedings, and personal jurisdiction over a non-resident who is or has been a director of a domestic corporation.