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0 chapters · 764 sections in this title.
La. Rev. Stat. § 6:325 Death of a customer and access and transfer of contents of safety deposit boxes,
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§325. Death of a customer and access and transfer of contents of safety deposit boxes, money, and other property by bank to succession or estate representatives, legatees, or heirs; authority A. For all purposes, a bank may deal with a safety deposit box or money, on deposit or o…
La. Rev. Stat. § 6:326 Transfer of contents of safety deposit boxes, money and other property by bank to legal representatives of minors or interdicts; authority
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§326. Transfer of contents of safety deposit boxes, money and other property by bank to legal representatives of minors or interdicts; authority A. Upon proper authority and upon obtaining a receipt therefor, any bank may transfer the contents of a safety deposit box or any money…
La. Rev. Stat. § 6:327 Abandonment of safety deposit box
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§327. Abandonment of safety deposit box A. A safety deposit box leased from any bank shall be deemed abandoned and the bank may remove the contents of such safety deposit box, if the rental therefor remains unpaid, all as provided under Subsection B of this Section, or pursuant t…
La. Rev. Stat. § 6:327.1 Disposition of abandoned safety deposit box contents
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§327.1. Disposition of abandoned safety deposit box contents A. If a bank has entered an abandoned safety deposit box in accordance with the requirements of R.S. 6:327, and the bank decides to proceed with disposing of or selling the abandoned contents, then the provisions contai…
La. Rev. Stat. § 6:328 Access to safety deposit boxes by authorized persons; security procedures
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§328. Access to safety deposit boxes by authorized persons; security procedures A bank shall establish reasonable security procedures to ensure that only authorized persons shall have access to safety deposit boxes. Reasonable security procedures shall include but are not limited…
La. Rev. Stat. § 6:332 Attorney fiduciary accounts; overdraft notification to office of disciplinary counsel
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§332. Attorney fiduciary accounts; overdraft notification to office of disciplinary counsel A. A federally insured financial institution or its affiliate that maintains a fiduciary account for an attorney or law firm designated as a trust or escrow account, as mandated by Louisia…
La. Rev. Stat. § 6:333 Disclosure of financial records; reimbursement of costs
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§333. Disclosure of financial records; reimbursement of costs A. As used in this Section: (1) "Affiliate" means a bank's holding company, any subsidiary of a bank or its holding company, any insurer of or surety for the bank, or any attorney, accountant, auditor, or other agent f…
La. Rev. Stat. § 6:334 Foreclosure of mortgage
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§334. Foreclosure of mortgage In the event of foreclosure by executory process of a mortgage on either movable or immovable property in favor of a supervised financial organization, the certificate of any officer thereof, under the seal of the supervised financial organization, c…
La. Rev. Stat. § 6:335 Sharing of electronic financial terminals
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§335. Sharing of electronic financial terminals A. A financial institution may share an electronic financial terminal with other financial institutions, or with other nonfinancial institutions if such nonfinancial institution agrees in writing that its electronic financial termin…
La. Rev. Stat. § 6:336 Legal and regulatory compliance; self-evaluations; privilege of results
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§336. Legal and regulatory compliance; self-evaluations; privilege of results A. It is the intent of the legislature to encourage FDIC-insured financial institutions, their holding companies, subsidiaries, and affiliates to engage in self-evaluations, self-assessments, self-testi…
La. Rev. Stat. § 6:337 Duty of secured party upon payment of insurance claim for damage to mortgaged
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§337. Duty of secured party upon payment of insurance claim for damage to mortgaged residential property A. All of the following provisions shall apply to a mortgagee or mortgage servicer servicing residential mortgage loans secured by a property that contains one to four residen…
La. Rev. Stat. § 6:338 Insurance settlement proceeds; return of excess funds; enforcement
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§338. Insurance settlement proceeds; return of excess funds; enforcement A. If a mortgagee or mortgage servicer is presented with a jointly payable insurance proceeds check, draft, or other negotiable instrument for residential immovable property damage, which contains the borrow…
La. Rev. Stat. § 6:341 Tender and acceptance of United States government gold and silver
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§341. Tender and acceptance of United States government gold and silver A. Any gold or silver coin, specie, or bullion recognized by the United States government as legal tender or any gold-backed debit instrument that can convert gold in a depository to fiat currency shall be re…
La. Rev. Stat. § 6:351 Authorization for mergers, consolidations, and share exchanges
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§351. Authorization for mergers, consolidations, and share exchanges A. Any two or more state banks, and any one or more state banks and any one or more national banks, may, upon approval of the commissioner if the surviving or consolidated bank will be a state bank, be: (1) Merg…
La. Rev. Stat. § 6:352 Merger or consolidation procedure
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§352. Merger or consolidation procedure Merger or consolidation may be effected only as a result of a joint agreement entered into, approved, and filed as follows: (1) The board of directors of each of the banks which desires to merge or consolidate may enter into a joint agreeme…
La. Rev. Stat. § 6:352.1 Share exchange procedure
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§352.1. Share exchange procedure A. With the approval of the commissioner, all of the outstanding shares of one or more classes or series of capital stock of a financial institution may be acquired by another bank, savings bank or association, or a holding company or holding comp…
La. Rev. Stat. § 6:353 Consolidation; articles of incorporation
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§353. Consolidation; articles of incorporation A. If the joint agreement is for a consolidation into a new bank to be formed under this law, articles of incorporation for the new bank shall be prepared in the manner and form prescribed by law except that: (1) The banks consolidat…
La. Rev. Stat. § 6:354 When merger or consolidation effective
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§354. When merger or consolidation effective A. A merger shall be effective when the joint agreement has been recorded by the commissioner as of the time of filing of the agreement with the commissioner or as of any later effective time not more than thirty days after the date of…
La. Rev. Stat. § 6:355 Effect of merger or consolidation
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§355. Effect of merger or consolidation Upon the effectiveness of the merger or consolidation, the effect thereof shall be that: A. The several parties to the joint agreement shall be one bank which shall be: (1) In the case of merger, one of the constituent banks into which it h…
La. Rev. Stat. § 6:361 National bank converting into state bank
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§361. National bank converting into state bank A.(1) A national bank domiciled in this state which complies with the procedure prescribed by the laws of the United States for the conversion of a national bank into a state bank may be granted a certificate of authority by the comm…
La. Rev. Stat. § 6:362 State bank converting into national bank
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§362. State bank converting into national bank A. A state bank may convert into a national bank by complying with the laws of the United States and the provisions of Subsection B. Upon the completion of the conversion, the certificate of authority of the converting state bank sha…
La. Rev. Stat. § 6:363 Continuation of corporate entity; use of old name
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§363. Continuation of corporate entity; use of old name A. A resulting state or national bank shall be considered the same business and corporate entity as the converting bank, with all the property, rights, powers, duties, and obligations of the converting bank, except as may be…
La. Rev. Stat. § 6:364 State bank converting into state stock savings and loan association
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§364. State bank converting into state stock savings and loan association A. A state bank may convert into a state stock savings and loan association as defined by and subject to the provisions of R.S. 6:701, et seq. upon: (1) Complying with the laws of the United States. (2) Ado…
La. Rev. Stat. § 6:364.1 Approval of conversion; effective date of conversion
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§364.1. Approval of conversion; effective date of conversion A. After an application for conversion has been approved by the commissioner, the commissioner shall approve the amendments to the articles of incorporation of the resulting state stock savings and loan association and …
La. Rev. Stat. § 6:364.2 Effect of conversion from state bank into state stock savings and loan association
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§364.2. Effect of conversion from state bank into state stock savings and loan association Upon completion of the conversion from a state bank into a state stock savings and loan association: (1) The resulting state stock savings and loan association shall possess all the rights,…
La. Rev. Stat. § 6:365 Federal or state stock savings and loan association converting into a state-chartered bank or savings bank
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§365. Federal or state stock savings and loan association converting into a state-chartered bank or savings bank A. A federal or state stock savings and loan association may convert into a state-chartered bank or savings bank as defined by and subject to the provisions of R.S. 6:…
La. Rev. Stat. § 6:365.1 Merger or conversion of an existing financial institution
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§365.1. Merger or conversion of an existing financial institution A. With the approval of the commissioner, and notwithstanding any other law to the contrary, an existing federally insured financial institution may merge with or convert to any other form of federally insured fina…
La. Rev. Stat. § 6:366 Voluntary transfer of assets
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§366. Voluntary transfer of assets A.(1) Any state bank may sell, lease, exchange, or otherwise dispose of all or substantially all of its assets to any other bank after having obtained both the consent of the stockholders of the selling bank holding of record at least two-thirds…
La. Rev. Stat. § 6:367 Voluntary purchase of assets and liabilities
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§367. Voluntary purchase of assets and liabilities A. A Louisiana state-chartered bank, savings bank, or association, hereinafter referred to as the "acquiring institution", may, with the approval of the commissioner, purchase all or a portion of the assets and assume all or a po…
La. Rev. Stat. § 6:371 Voluntary liquidations and dissolutions of solvent banks with prior approval of commissioner
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§371. Voluntary liquidations and dissolutions of solvent banks with prior approval of commissioner A. The stockholders of a state bank, by vote of two-thirds of the total voting power of the corporation or such larger vote as the articles may require, at a special meeting of the …
La. Rev. Stat. § 6:372 Liquidation procedure
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§372. Liquidation procedure A. A voluntary liquidation takes effect upon: (1) The appointment of a liquidator in the stockholder agreement provided for in R.S. 6:371(A); and (2) Approval of the commissioner. B. When the voluntary liquidation takes effect, all the rights, powers, …
La. Rev. Stat. § 6:376 Rights of a stockholder dissenting from certain actions
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§376. Rights of a stockholder dissenting from certain actions A. Except as provided in Subsection B of this Section, if a state bank has, by vote of its stockholders, authorized a sale, lease, or exchange of all or substantially all of its assets, or become a party to a merger, c…
La. Rev. Stat. § 6:381 Definitions
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§381. Definitions As used in this Subchapter: (1) "Conservator" means the commissioner or his designee. (2) "FDIC" means the Federal Deposit Insurance Corporation, and includes any successor to the corporation or other agency or instrumentality of the United States which may unde…
La. Rev. Stat. § 6:382 Authority of commissioner to take possession and commence conservatorship of state bank
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§382. Authority of commissioner to take possession and commence conservatorship of state bank A. The commissioner may, with the consent of the governor, take possession and act as conservator of a state bank in any case in which he finds that the bank: (1) Is insolvent or in an u…
La. Rev. Stat. § 6:383 Transfer of title to bank assets; extension of prescriptive periods
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§383. Transfer of title to bank assets; extension of prescriptive periods A. Upon confirmation of a conservator, title to all assets of the bank shall vest in the conservator without the execution of any instruments of conveyance, assignment, transfer, or endorsement. B. Notwiths…
La. Rev. Stat. § 6:384 Notice of conservatorship; effect
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§384. Notice of conservatorship; effect Upon commencement of the conservatorship of any state bank, the conservator shall immediately post an appropriate notice of the conservatorship at the main entrance to the main office of the bank. No person who has actual knowledge of the c…
La. Rev. Stat. § 6:385 Conservator's power to manage and control bank
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§385. Conservator's power to manage and control bank When a conservator has taken control of a state bank, he shall be vested with the full and exclusive power of management and control, including the power: (1) To take possession of all books, records, and assets of the bank. (2…
La. Rev. Stat. § 6:386 Objection to conservatorship
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§386. Objection to conservatorship Within ten days after the commencement of the conservatorship, any interested party may file an application with the receivership court for an order vacating such conservatorship. Unless a receiver has been confirmed, the court shall grant the o…
La. Rev. Stat. § 6:387 Decision to liquidate bank or terminate conservatorship
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§387. Decision to liquidate bank or terminate conservatorship A. After conducting such investigations as circumstances may require and within six months of the initial filing of the petition pursuant to R.S. 6:382, the conservator shall terminate the conservatorship of the state …
La. Rev. Stat. § 6:391 Commencement of receivership; confirmation of receiver
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§391. Commencement of receivership; confirmation of receiver A. If the conservator shall determine to liquidate the state bank, he shall file a motion for an order from the receivership court to close the bank and commence liquidation thereof. The motion shall name the receiver o…
La. Rev. Stat. § 6:392 Emergency sale of assets; purchase and assumption of assets
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§392. Emergency sale of assets; purchase and assumption of assets The receiver may, with ex parte approval of the receivership court, sell all or any part of the bank's assets to another state or national bank or to the FDIC. In like manner, the receiver may borrow from the FDIC …
La. Rev. Stat. § 6:393 Notice to creditors and depositors
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§393. Notice to creditors and depositors A. All persons having claims against the bank shall present their claims substantiated by legal proof to the receiver within one hundred eighty days after the bank is closed. B. The receiver shall cause notice of the claims procedure to be…
La. Rev. Stat. § 6:394 Payment of claims
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§394. Payment of claims All claims filed after the one hundred eighty day claim period prescribed by R.S. 6:393 and subsequently accepted by the receiver or allowed by the receivership court shall be entitled to share in the distribution of assets only to the extent of the undist…
La. Rev. Stat. § 6:394.1 Right of set-off
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§394.1. Right of set-off Notwithstanding Civil Code Articles 1893, et seq. or any other provision of law to the contrary, any funds held on deposit with any state bank on behalf of a depositor may be used by the depositor as a set-off against any and all loans, extensions of cred…
La. Rev. Stat. § 6:395 Distribution of assets
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§395. Distribution of assets A. All claims against the bank's assets, proved to the receiver's satisfaction or approved by the receivership court, shall be paid in the following order: (1) Administration expenses of the liquidation. (2) Claims given priority under other provision…
La. Rev. Stat. § 6:396 Termination of executory contracts
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§396. Termination of executory contracts Within one hundred eighty days of the date of commencement of liquidation of the bank, the receiver may at his election reject any executory contract to which the bank is a party without any further liability to the bank or the receiver or…
La. Rev. Stat. § 6:397 Subrogation to rights of bank depositors
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§397. Subrogation to rights of bank depositors Whenever the FDIC pays or makes available for payment the insured deposit liabilities of a closed bank, the FDIC, whether or not it acts as receiver, shall be subrogated to all rights of depositors against the closed bank to the same…
La. Rev. Stat. § 6:398 Liquidation procedures involving trust assets
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§398. Liquidation procedures involving trust assets A.(1) The receiver, with the approval of the receivership court, has the authority to appoint a successor to all rights, obligations, assets, deposits, agreements, and trusts held by the closed bank as trustee, administrator, ex…
La. Rev. Stat. § 6:399 Destruction of records
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§399. Destruction of records Subject to the approval of the receivership court, the closed bank's records may be destroyed after the receiver determines that there is no further need for them. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
La. Rev. Stat. § 6:4 Employment reference; release of certain information
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§4. Employment reference; release of certain information A. A bank, savings and loan association, trust company, or credit union may provide to any other such financial institution a written employment reference which may include information reported to federal banking regulators…
