RS 12:26 Condition precedent to beginning business - Louisiana Statutes

§26.  Condition precedent to beginning business

A corporation formed under this Chapter shall not incur any debts or begin the transaction of any business, except business incidental to its organization, or to the obtaining of subscriptions to, or payment for, its shares, until the amount of paid-in capital with which it will begin business, if stated in the articles, has been paid in full.  

Acts 1968, No. 105, §1.