Frequently-Asked Questions
If there is a change in stockholders, what are the reporting requirements?
A company is required to report all major stockholder changes to the Office within 10 days of the change. If, due to the stockholder change, a new individual acquires more than 5% of the outstanding stock, that individual would be required to submit "Personal History" and "Personal Financial Data" forms in order to meet suitability.
(La. R.S. 4:718.E) and (LAC 42:2203(B))