26,490 sections across 2,319 Louisiana regulatory chapters.
Chapter 5. Mutual Holding Company Reorganizations-503 Definitions
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A. For purposes of this rule, the following terms shall have the meanings set forth in §303 of the Savings Bank Conversions Rule: 1. acting in concert; 2. affiliate; associate; 3. commissioner; 4. control; 5. person; 6. proxy; 7. stock; 8. tax-qualified employee stock benefit pla…
Chapter 5. Mutual Holding Company Reorganizations-505 Procedural Requirements for Reorganizations
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A. Approvals Required. Prior to reorganizing into a mutual holding company, a savings bank shall do all of the following: 1. obtain approval of a reorganization plan by a majority of the board of directors of the reorganizing savings bank and any acquires savings bank; 2. file th…
Chapter 5. Mutual Holding Company Reorganizations-507 Grounds for Disapproval of Reorganizations
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A. Basic Standards. The commissioner may disapprove an application for a mutual holding company reorganization on one or more of the following grounds. 1. Disapproval is necessary to prevent unsafe or unsound practices, or to otherwise maintain a sound financial system. 2. The re…