Louisiana SB279 amends laws to allow financial institutions to issue uncertificated shares.

Louisiana SB279 modifies existing laws to allow financial institutions to issue uncertificated shares. The bill amends the Business Corporation Act to permit the board of directors to authorize the issuance of shares without certificates, including through electronic methods. This change applies to state-chartered banks, bank holding companies, capital stock associations, and their holding companies. The rights and obligations of shareholders remain the same regardless of whether shares are represented by certificates. The changes take effect on August 1, 2026.

Louisiana SB279 amends laws to allow financial institutions to issue uncertificated shares.

Louisiana SB279 modifies existing laws to allow financial institutions to issue uncertificated shares. The bill amends the Business Corporation Act to permit the board of directors to authorize the issuance of shares without certificates, including through electronic methods. This change applies to state-chartered banks, bank holding companies, capital stock associations, and their holding companies. The rights and obligations of shareholders remain the same regardless of whether shares are represented by certificates. The changes take effect on August 1, 2026.