Louisiana Residential Property Disclosure Act, La. If an association is a nonprofit, as with most Louisiana associations, it will be governed by the Louisiana Nonprofit Corporation Act. seq.: The Act governs nonprofit corporations with regard to corporate structure and procedure. Condominium associations in Louisiana may organize as either profit or nonprofit corporations or unincorporated associations when the condominium is created. 9:1141.2(5)) and are therefore subject to the Business Corporations Act. Homeowners’ associations in Louisiana must be organized as either nonprofit corporation, unincorporated association, or other legal entity created by the declaration ( La. The Act governs corporations with regard to corporate structure and procedure. seq.: The Act governs the formation, management, powers, and operation of homeowners’ associations in Louisiana. Louisiana Homeowners Association Act, La. §§ 9:1121.101 et seq.: The Act applies to residential condominiums and provides a legal framework for, without limitation, formation, apportionment of interest, common expenses, and voting rights association administration and powers and purchaser protection. Federal Laws - In addition to state law regulations, the federal government has laws governing the operation and management of common interest communities, condominiums, cooperatives, and residential properties in Louisiana.
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