Signed by Governor Bobby Jindal on the 18th of June, Senate Bill 203 enacted a Revised Limited Liability Company Act. Effective January 1, 2013 it is intended to increase the flexibility of the act and enable tailored LLC’s to meet with manager and member interests and needs, including provisions validating oral and implied operating agreements of LLCs that lack written agreements; new provisions comprehensively defining the fiduciary duties of members and managers; and definitions of terms such as “allocation,” “distribution,” “dissociation,” and “dissolution”.
http://legis.la.gov/billdata/streamdocument.asp?did=810681
Louisiana – Revised Limited Liability Company Act