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Current as of January 01, 2023 | Updated by FindLaw Staff
A. The articles of incorporation or bylaws may prescribe qualifications for directors or for nominees for director.
B. A requirement that is based on a past, current or prospective action, or expression of an opinion, by a nominee or director that could limit the ability of a nominee or director to discharge his or her duties as a director is not a permissible qualification under this Section. Notwithstanding the foregoing, qualifications may include not being or having been subject to specified criminal, civil or regulatory sanctions or not having been removed as a director by judicial action or for cause.
C. A director need not be a resident of this state or a shareholder of the corporation unless the articles of incorporation or bylaws so provide.
D. A qualification for nomination for director adopted before a person's nomination shall apply to such person at the time of nomination. A qualification for nomination for director adopted after a person's nomination shall not apply to such person with respect to such nomination.
E. A qualification for director adopted before the start of a director's term may apply only at the time an individual becomes a director or may apply during a director's term. A qualification adopted during a director's term shall not apply to that director before the end of that term.
Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 12, § 1-802. Qualifications of directors - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-12-sect-1-802/
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