Bill > SB10

This bill enacts a new law, R.S. 12:1705, which provides that the separate legal personalities of business organizations (such as corporations, LLCs, and partnerships) shall not be disregarded except on the same grounds that would justify disregarding the separate personality of a business organization and a natural person. The bill also specifies that the separate legal personality of a business organization cannot be disregarded merely because of certain common characteristics, such as having common control, directors, or offices. The law does not affect actions taken by the insurance commissioner or laws that permit or require consolidation or disregard of a group of business organizations for certain purposes.