LAC 35:XLI.1109. Partnership and Limited Liability Company Papers

A. Partnership papers shall, among other things, set forth the following: 1. the name and address of each and every person having any interest in the horse or horses involved; 2. the relative proportions of such interests; 3. to whom the winnings are payable; 4. in whose name the horse or horses shall run; 5. with whom the power of entry and declaration rests; 6. the terms of any contingency, lease or any other arrangement. B. Limited Liability Company shall, among other things, provide for the following: 1. the name and address of each and every member of the limited liability company; 2. the relative proportions of such interests; 3. whether management is reserved to the members or a manager; 4. with whom the power of entry and declaration rests; 5. the terms of any contingency, lease or any other arrangement.