The president and directors of any company may confer on the holder of any bonds issued for money for the use of the company the right to convert the principal due into the stock of the company at any time, not exceeding ten years from the date of the bonds, under such regulations as the president and directors may adopt, but nothing in this Section shall be construed to authorize an increase in the capital stock of any railroad company.
‹ Prev All Louisiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.