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La. Rev. Stat. § 12:91 (2026)

PART IX.  LIABILITY OF DIRECTORS, OFFICERS,

✓ current as of May 2026
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PART IX.  LIABILITY OF DIRECTORS, OFFICERS,

SHAREHOLDERS AND SUBSCRIBERS

§91.  Repealed by Acts 2014, No. 328, §5, eff. Jan. 1, 2015.

Acts 1968, No. 105, §1; Acts 1999, No. 1253, §1, eff. July 12, 1999; Acts 2014, No. 328, §5, eff. Jan. 1, 2015.

Notes of Decisions
Cited in 88 cases (2 in the last 5 years), 1975–2021 · leading case: Landry v. Thibaut, 523 So. 2d 1370 (La. Ct. App. 1988).
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Landry v. Thibaut, 523 So. 2d 1370 (La. Ct. App. 1988). · cites it 20× “The appeal before us is from judgment awarding damages to the plaintiffs under two Louisiana statutes, LSA-R.S. 12:91, concerning the fiduciary duty of a corporate officer, and the Louisiana Blue Sky Law, R.”
Wooley v. Lucksinger, 14 So. 3d 311 (La. Ct. App. 2009). · cites it 6× “North American Catholic Educational *545 Programming Foundation, Inc.”
Dunbar v. Williams, 554 So. 2d 56 (La. Ct. App. 1989). · cites it 9× “R.S. 12:91 which provides in pertinent part: *60 Officers and directors shall be deemed to stand in a fiduciary relation to the corporation and its shareholders, and shall discharge the duties of their respective positions in good faith, and with that diligence, care, judgment…”
Sun Drilling Prods. Corp. v. Rayborn, 798 So. 2d 1141 (La. Ct. App. 2001). · cites it 3× “Under LSA-R.S. 12:91 officers and directors stand in a fiduciary relation to the corporation's shareholders as well as to the corporation itself.”
Wilson v. HJ Wilson Co., Inc., 430 So. 2d 1227 (La. Ct. App. 1983). · cites it 6× “R.S. 12:91; and thus, in maintaining the exception of no right of action on that basis.”
Agem Mgmt. Servs., LLC v. First Tennessee Bank Nat'l Ass'n, 942 F. Supp. 2d 611 (E.D. La. 2013). · cites it 4× “On the other hand, Louisiana Revised Statute Section 12:91 is inapplicable to the instant matter.”
Bordelon v. Cochrane, 533 So. 2d 82 (La. Ct. App. 1988). · cites it 4× “Bordelon contends that he stated a cause of action and that he has a right of action under three distinct theories: (1) under LSA-R.S. 12:91 he can individually sue for the alleged loss he personally suffered due to defendants' alleged breach of their fiduciary duties; (2) under…”
Theriot v. Bourg, 691 So. 2d 213 (La. Ct. App. 1997). · cites it 5× “With respect to the law as it applies to the liability of directors and officers, the trial court initially quoted the language of LSA-R.S. 12:91, which is the statutory law that applies to the liability of directors and officers as set forth at Part IX of the Louisiana Business…”
Glod v. Baker, 851 So. 2d 1255 (La. Ct. App. 2003). · cites it 2× “R.S. 12:91 extended the officers' and directors' fiduciary relationship to shareholders, the court held that it did not confer a direct right of action on the shareholders in that case, because the losses sued for were losses sustained solely by the corporation and the only…”
Noe v. Roussel, 310 So. 2d 806 (La. 1975). · cites it 3× “The duties and obligations of corporate officers and directors are provided for by LSA-R.S. 12:91, which pertinently reads as follows: "Officers and directors shall be deemed to stand in a fiduciary relationship to the corporation and its shareholders and shall discharge the…”
Lawly Brooke Burns Trust v. RKR, INC., 691 So. 2d 1349 (La. Ct. App. 1997). · cites it 6× “12:84 and LSA R.S. 12:91. 3. The claims brought by plaintiffs were personal rather than secondary actions on behalf of the corporation and were, in truth and fact, for the wrongrul [sic] distribution of corporate assets, which said action is preempted by a period of two years.”
Guillory v. Broussard, 190 So. 3d 486 (La. Ct. App. 2016). · cites it 2× “R.S. 12:91 (repealed 2015), as that statute read at the time issue was joined in this litigation, which provided: " • A.”
Show all 88 citing cases →
— La. Rev. Stat. § 12:91(A) — 13 cases
Agem Mgmt. Servs., LLC v. First Tennessee Bank Nat'l Ass'n, 942 F. Supp. 2d 611 (E.D. La. 2013). “On the other hand, Louisiana Revised Statute Section 12:91 is inapplicable to the instant matter.”
Terrebonne Concrete, LLC v. CEC Enter., LLC, 76 So. 3d 502 (La. Ct. App. 2011).
Kimball v. Anesthesia Specialists, 809 So. 2d 405 (La. Ct. App. 2001).
Languirand v. Lopez, 261 So. 3d 1054 (La. Ct. App. 2018).
Louisiana State Univ. Sys. Rsch. & Tech. Found. v. Qyntessa Biologics, L.L.C., 168 So. 3d 468 (La. Ct. App. 2014).
— La. Rev. Stat. § 12:91(A)(2013) — 2 cases
Karen Moulton, Individually & on Behalf of All Others Similarly Situated v. Stewart Enter., Inc., John B. Elstrott, Jr., Thomas M. Kitchen, Alden J. McDonald, Jr., Ronald H. Patron, Ashton J. Ryan, Jr., John K. Saer, Jr., Frank B. Stewart, Jr., & Serv. Corp. Int'l, Rio Acquisition Corp. (La. Ct. App. 2021).
Karen Moulton, Individually & on Behalf of All Others Similarly Situated v. Stewart Enter., Inc., John B. Elstrott, Jr., Thomas M. Kitchen, Alden J. McDonald, Jr., Ronald H. Patron, Ashton J. Ryan, Jr., John K. Saer, Jr., Frank B. Stewart, Jr., & Serv. Corp. Int'l, Rio Acquisition Corp. (La. Ct. App. 2021).
— La. Rev. Stat. § 12:91(B) — 1 case
In Re: Lapeyre (5th Cir. 2003).
— La. Rev. Stat. § 12:91(C)(2013) — 2 cases
Karen Moulton, Individually & on Behalf of All Others Similarly Situated v. Stewart Enter., Inc., John B. Elstrott, Jr., Thomas M. Kitchen, Alden J. McDonald, Jr., Ronald H. Patron, Ashton J. Ryan, Jr., John K. Saer, Jr., Frank B. Stewart, Jr., & Serv. Corp. Int'l, Rio Acquisition Corp. (La. Ct. App. 2021).
Karen Moulton, Individually & on Behalf of All Others Similarly Situated v. Stewart Enter., Inc., John B. Elstrott, Jr., Thomas M. Kitchen, Alden J. McDonald, Jr., Ronald H. Patron, Ashton J. Ryan, Jr., John K. Saer, Jr., Frank B. Stewart, Jr., & Serv. Corp. Int'l, Rio Acquisition Corp. (La. Ct. App. 2021).
— La. Rev. Stat. § 12:91(D) — 1 case
Jeansonne v. New York Life Ins. Co., 11 So. 3d 1160 (La. Ct. App. 2009).
— La. Rev. Stat. § 12:91(E) — 4 cases
Guillory v. Broussard, 190 So. 3d 486 (La. Ct. App. 2016). “R.S. 12:91 (repealed 2015), as that statute read at the time issue was joined in this litigation, which provided: " • A.”
Duncan v. Moreno Energy, Inc., 129 So. 3d 849 (La. Ct. App. 2013).
Lawson v. White, 815 So. 2d 958 (La. Ct. App. 2002).
In Re: Lapeyre (5th Cir. 2003).
— La. Rev. Stat. § 12:91(E)(2013) — 2 cases
Karen Moulton, Individually & on Behalf of All Others Similarly Situated v. Stewart Enter., Inc., John B. Elstrott, Jr., Thomas M. Kitchen, Alden J. McDonald, Jr., Ronald H. Patron, Ashton J. Ryan, Jr., John K. Saer, Jr., Frank B. Stewart, Jr., & Serv. Corp. Int'l, Rio Acquisition Corp. (La. Ct. App. 2021).
Karen Moulton, Individually & on Behalf of All Others Similarly Situated v. Stewart Enter., Inc., John B. Elstrott, Jr., Thomas M. Kitchen, Alden J. McDonald, Jr., Ronald H. Patron, Ashton J. Ryan, Jr., John K. Saer, Jr., Frank B. Stewart, Jr., & Serv. Corp. Int'l, Rio Acquisition Corp. (La. Ct. App. 2021).
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