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0 chapters · 764 sections in this title.
La. Rev. Stat. § 6:400 Discharge of receiver
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§400. Discharge of receiver A. Whenever the receiver has paid all necessary costs and expenses of the liquidation of a bank, and has paid to every depositor and creditor of the bank, not including stockholders and their claims on account of stock owned by them, whose claims have …
La. Rev. Stat. § 6:401 Exclusive procedures
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§401. Exclusive procedures This Part provides the full and exclusive powers and procedures for the liquidation of state banks under the laws of this state, and no receiver or other liquidating agent shall be appointed for such purpose except as expressly provided in this Part. Ac…
La. Rev. Stat. § 6:411 Engaging in business of banking without authority; penalty
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§411. Engaging in business of banking without authority; penalty A. It shall be unlawful for any person other than a financial institution to engage in the business of banking anywhere in this state. B. Financial institutions may only engage in the business of banking to the exte…
La. Rev. Stat. § 6:412 Unauthorized use of the word "bank" or similar words
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§412. Unauthorized use of the word "bank" or similar words A. It shall be unlawful for any person other than a bank to: (1) Use the word "bank", "banker", "banking", "trust", "trustee", "trust company", or any other word of similar import as part of its name or title, except that…
La. Rev. Stat. § 6:412.1 Soliciting using lender's name or customer loan information; restrictions; injunction;
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§412.1. Soliciting using lender's name or customer loan information; restrictions; injunction; damages; attorney fees; enforcement A. For purposes of this Section, the following terms shall have the following meanings: (1) "Lender" means a state or federally chartered bank, savin…
La. Rev. Stat. § 6:413 Prohibited use of the term "insured savings"
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§413. Prohibited use of the term "insured savings" A. No person shall offer, hold out, represent, or advertise any account, deposit, investment, stock purchase, indenture, passbook, or other evidence of a credit on deposit or maintained as an account as constituting "insured savi…
La. Rev. Stat. § 6:414 Use of certain terms by persons other than financial institutions prohibited
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§414. Use of certain terms by persons other than financial institutions prohibited A. No person other than a financial institution shall in any manner directly or indirectly in written or verbal advertising or other communication purport to offer a savings account, savings deposi…
La. Rev. Stat. § 6:414.1 Derogatory statements regarding financial condition of financial institution prohibited; penalty
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§414.1. Derogatory statements regarding financial condition of financial institution prohibited; penalty A. It shall be unlawful for any person maliciously to make, circulate, or transmit to another person any statement, rumor, or suggestion which is directly or by inference dero…
La. Rev. Stat. § 6:415 Loans; other credit exposure; derivative transactions; restrictions; penalties
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§415. Loans; other credit exposure; derivative transactions; restrictions; penalties A. A state bank shall not loan on an unsecured basis to any one borrower, directly or indirectly, an amount in excess of twenty percent of the sum of its capital stock and surplus. B. A state ban…
La. Rev. Stat. § 6:416 Loan on pledge of own stock and pledge of own stock prohibited
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§416. Loan on pledge of own stock and pledge of own stock prohibited A. Except as otherwise provided by rule or regulation promulgated by the commissioner, no loan shall be made by any bank to any borrower on pledge of the bank's own stock or the stock of its parent company. Exce…
La. Rev. Stat. § 6:417 Unlawful solicitation or acceptance of gratuity or compensation by officer, director, or employee
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§417. Unlawful solicitation or acceptance of gratuity or compensation by officer, director, or employee A. No officer, director, or employee of any bank shall solicit, accept, or agree to accept, directly or indirectly, from any person other than the bank any gratuity, compensati…
La. Rev. Stat. § 6:418 Pledge of assets to secure deposits; exceptions; penalty
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§418. Pledge of assets to secure deposits; exceptions; penalty A. No bank shall pledge or hypothecate any of its assets for the purpose of securing any depositor or for the purpose of furnishing an indemnity bond to secure any depositor from any loss that might be occasioned to t…
La. Rev. Stat. § 6:419 Receipt of deposits while insolvent
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§419. Receipt of deposits while insolvent A. After an officer, director, or employee of a bank learns that the bank is insolvent, he shall not assent to the receipt of any deposit of which all or any portion thereof would not be insured by the Federal Deposit Insurance Corporatio…
La. Rev. Stat. § 6:420 False entries or reports; failure to exhibit books; reporting of criminal violations
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§420. False entries or reports; failure to exhibit books; reporting of criminal violations A. No director, officer, or employee of any state bank shall knowingly make false entries or knowingly omit and neglect to make proper entries in any of the books of the bank for the purpos…
La. Rev. Stat. § 6:421 Overdrafts
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§421. Overdrafts A. No officer of any state bank shall knowingly permit the aggregate amount of unsecured overdrafts due the bank to exceed ten percent of the sum of its capital stock and surplus. Overdrafts by parishes, municipalities, school boards, and other political subdivis…
La. Rev. Stat. § 6:422 Excessive borrowings or repurchase agreements
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§422. Excessive borrowings or repurchase agreements No state bank shall borrow additional sums as long as it has borrowed upon bills payable, rediscounts, or otherwise, or entered into repurchase agreements in any sum equal to three times its total capital less undivided profits.…
La. Rev. Stat. § 6:423 Check-cashing facility; location of business limited
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§423. Check-cashing facility; location of business limited A. No license shall be granted for the operation of a check-cashing facility which will be situated within three hundred feet or less of any official gaming establishment or designated docking facility of a riverboat lice…
La. Rev. Stat. § 6:452 Loan production offices; power of commissioner to adopt rules and regulations
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§452. Loan production offices; power of commissioner to adopt rules and regulations A.(1) Any Louisiana state-chartered bank, savings bank, or savings and loan association, or a wholly owned operating subsidiary of such bank, savings bank, or savings and loan association, may ope…
La. Rev. Stat. § 6:453 Deposit production offices; power of commissioner to adopt rules and regulations
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§453. Deposit production offices; power of commissioner to adopt rules and regulations A.(1) Any Louisiana state-chartered bank, savings bank, or savings and loan association, or a wholly owned operating subsidiary of such bank, savings bank, or savings and loan association, may …
La. Rev. Stat. § 6:454 Combination of loan production office, deposit production office, and electronic
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§454. Combination of loan production office, deposit production office, and electronic financial terminal Any Louisiana state-chartered bank, savings bank, or savings and loan association may operate, at the same location, a loan production office, a deposit production office, an…
La. Rev. Stat. § 6:5 Public policy
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§5. Public policy It is the declared public policy of the state of Louisiana to encourage and to foster the development of financial institutions under a dual chartering system of the state and federal governments. In order to carry out this policy, the office of financial instit…
La. Rev. Stat. § 6:501 Branch offices; authority
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§501. Branch offices; authority A. All banks domiciled in this state may open one or more branch offices within or outside the state or may acquire one or more banks or any or all branches thereof, or both. B. No branch office shall be opened without a certificate of authority fr…
La. Rev. Stat. § 6:504 Branches in foreign countries
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§504. Branches in foreign countries A. All banks, savings banks, and trust companies having a paid-in capital and surplus of one million dollars or more may open and maintain branches in foreign countries, appoint correspondents, and establish agencies wherever they deem best for…
La. Rev. Stat. § 6:506 Certificate of authority for branch office
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§506. Certificate of authority for branch office A. Repealed by Acts 1988, No. 39, §2, eff. June 10, 1988. B. An application for a certificate of authority to open a branch office shall be in the manner and in the form required by the commissioner. C.(1) To determine whether to g…
La. Rev. Stat. § 6:507 Closure of branch office
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§507. Closure of branch office A. No bank or savings bank shall close a branch office except pursuant to the procedure provided by this Section. B. At least ninety days prior to the closure date, the bank shall submit in writing to the commissioner detailed reasons for the necess…
La. Rev. Stat. § 6:511 Declaration of policy
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§511. Declaration of policy It is declared to be the policy of this state to foster commerce in this state by encouraging effective competition among banking institutions and to accomplish these objectives by permitting bank holding companies to own or control one or more banking…
La. Rev. Stat. § 6:512 Definitions
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§512. Definitions A.(1) "Bank holding company" means any company: (a) Which directly or indirectly owns, controls, or has power to vote twenty-five percent or more of any class of the voting shares of any bank. (b) Which controls in any manner the election of a majority of the di…
La. Rev. Stat. § 6:513 Prohibitions
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§513. Prohibitions It shall be unlawful: (1) Until July 1, 1989, for any bank holding company or subsidiary thereof to open for business any bank not now opened for business whether or not a charter, permit, license, or certificate to open for business has already been issued. (2…
La. Rev. Stat. § 6:514 Penalties
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§514. Penalties A. Any bank holding company or any subsidiary thereof which willfully violates any provision of this Chapter or any regulation or order issued by the commissioner of financial institutions pursuant thereto shall upon conviction be fined not less than five hundred …
La. Rev. Stat. § 6:515 Administration
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§515. Administration A. The commissioner of financial institutions shall administer and carry out the provisions of this Chapter and may issue such regulations and orders as may be necessary to discharge this duty and to prevent evasions of this Chapter. B. The commissioner may p…
La. Rev. Stat. § 6:516 Savings clause
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§516. Savings clause A. Nothing herein contained shall be interpreted or construed as approving any act, action, or conduct which is or has been or may be in violation of any existing law, nor shall anything herein contained constitute a defense to any action, suit, or proceeding…
La. Rev. Stat. § 6:517 Minority stockholders' rights
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§517. Minority stockholders' rights A. Subject to the provisions of Subsection B of this Section, it shall be unlawful for a bank holding company to purchase for cash or any other form of consideration any voting security or percentage of equity ownership of any bank or bank hold…
La. Rev. Stat. § 6:518 Oppressed shareholder's remedies
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§518. Oppressed shareholder's remedies A. For the purposes of R.S. 12:1-1435(I), if the corporation is a bank holding company, any obligation to purchase a withdrawing shareholder's shares shall be subject to any policy, limitation, requirement, order, plan, directive, or enforce…
La. Rev. Stat. § 6:521 Prohibitions
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§521. Prohibitions A. It shall be unlawful for a bank holding company to acquire direct or indirect ownership or control of any voting shares of any bank in this state if, after such acquisition, such bank holding company will, directly or indirectly, own or control five percent …
La. Rev. Stat. § 6:531 Declaration of policy
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§531. Declaration of policy It is declared to be the policy of this state to facilitate the economic development of this state, to promote a more efficient allocation of financial resources, to improve access to credit for Louisiana individuals and businesses, and to reinforce th…
La. Rev. Stat. § 6:532 Definitions
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§532. Definitions As used in this Part, unless the context otherwise requires, the term: (1) "Acquire", as applied to a bank holding company, means any of the following actions or transactions by a company: (a) The merger or consolidation with one or more bank holding companies. …
La. Rev. Stat. § 6:533 Scope of Part
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§533. Scope of Part Subject to the other provisions of this Part: (1) A Louisiana bank or bank holding company may acquire one or more out-of-state banks or branches thereof, or bank holding companies and, subject to the laws of the host state may convert these to branches of the…
La. Rev. Stat. § 6:534 Law applicable to interstate bank branches; purpose
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§534. Law applicable to interstate bank branches; purpose A. Pursuant to the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 and the enactment of R.S. 6:531 et seq., the state permits and encourages interstate banking mergers to facilitate economic development…
La. Rev. Stat. § 6:535 Interstate acquisitions; filings with commissioner
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§535. Interstate acquisitions; filings with commissioner A. An out-of-state bank holding company shall not acquire, directly or indirectly, a Louisiana bank holding company or a Louisiana bank or an out-of-state bank holding company having one or more Louisiana banks as subsidiar…
La. Rev. Stat. § 6:536 Interstate bank acquisitions; filings with commissioner
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§536. Interstate bank acquisitions; filings with commissioner A. An out-of-state bank shall not acquire, directly or indirectly, a Louisiana bank holding company or a Louisiana bank or an out-of-state bank holding company having one or more Louisiana banks as subsidiaries or the …
La. Rev. Stat. § 6:537 Emergency acquisitions
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§537. Emergency acquisitions A. The commissioner may approve any acquisition of a Louisiana bank that will be lawful under the provisions of R.S. 6:535, if all the following exist with respect to the Louisiana bank: (1) It has an adjusted capital to assets ratio of less than four…
La. Rev. Stat. § 6:537.1 Parity provision
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§537.1. Parity provision In accordance with the provisions of the Riegle-Neil Interstate Banking and Branching Efficiency Act, a Louisiana bank or bank holding company may acquire an out-of-state bank or bank holding company or may branch into any other state to the same extent a…
La. Rev. Stat. § 6:538 Five-year continuous operation requirement
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§538. Five-year continuous operation requirement The commissioner shall not approve an application for an acquisition under this Part unless the Louisiana bank to be acquired, or at least one Louisiana bank subsidiary of the bank holding company to be acquired, has as of the prop…
La. Rev. Stat. § 6:539 Agency activities; prohibitions
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§539. Agency activities; prohibitions A. In accordance with the rules, regulations, policies, and procedures of the office of financial institutions, any Louisiana state-chartered financial institution may receive deposits, renew time deposits, close loans, service loans, and rec…
La. Rev. Stat. § 6:540 Authority to issue regulations; cooperative agreements; fees; enforcement
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§540. Authority to issue regulations; cooperative agreements; fees; enforcement A. In order to carry out the purpose of this Part, the commissioner may: (1) Adopt regulations, in accordance with the Administrative Procedure Act, consistent with the scope of this Part, which are d…
La. Rev. Stat. § 6:540.1 Savings clause
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§540.1. Savings clause Nothing in this Part shall be interpreted or construed as approving any act, actions, or conduct which is or has been or may be in violation of any existing law, nor shall anything herein contained constitute a defense to any action, suit, or proceeding pen…
La. Rev. Stat. § 6:540.2 Construction with other laws
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§540.2. Construction with other laws A. The provisions of R.S. 6:511 through 517 shall be applicable to a bank holding company, as defined in this Part, operating in Louisiana, but the restrictions on acquisitions contained therein shall continue to apply only to acquisitions in …
La. Rev. Stat. § 6:541 Declaration of policy
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§541. Declaration of policy In order to encourage the development of the financial services industry within this state, thereby increasing employment opportunities and broadening the tax base, it is declared to be the policy of the state of Louisiana to promote the organization o…
La. Rev. Stat. § 6:542 Definitions
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§542. Definitions The following definitions shall apply for purposes of this Part: (1) "Bank" means a banking or similar corporation organized under the banking or currency laws of the United States of America or of this state which: (a) Makes commercial or consumer loans; or (b)…
La. Rev. Stat. § 6:543 Limited exception to bank holding company acts
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§543. Limited exception to bank holding company acts A. Notwithstanding any other law to the contrary, a bank holding company, including a bank holding company domiciled in another state, may establish one or more financial service center banks in Louisiana, provided that each fi…
