Title 6, Banks and Banking
0 chapters · 809 sections in this title.
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…
La. Rev. Stat. § 6:544 Organization of financial service center banks
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§544. Organization of financial service center banks A. Financial service center banks shall be organized in the manner provided in Subchapter A of Chapter 3 of this Title, except that: (1) The articles of incorporation of a financial service center bank shall expressly provide t…
La. Rev. Stat. § 6:545 Powers and functions
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§545. Powers and functions A. Financial service center banks shall have all of the powers and functions authorized in Part IV of Subchapter A of Chapter 3 of this Title, except that a financial service center bank or any subsidiary thereof may not: (1) Make or purchase a loan or …
La. Rev. Stat. § 6:546 Additional powers; rate export
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§546. Additional powers; rate export A. Financial service center banks shall have the following additional powers: (1) To engage in permissible activities authorized under this Part in other states, including but not limited to the making of loans to non-Louisiana borrowers, with…
La. Rev. Stat. § 6:547 Additional requirements
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§547. Additional requirements A. Except as provided in R.S. 6:547(B), a financial service center bank shall have: (1) A minimum of twenty-five full-time employees in Louisiana of whom twenty shall be residents of Louisiana within twelve weeks from the time of commencement of busi…
La. Rev. Stat. § 6:548 Interest rate parity; open-end credit
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§548. Interest rate parity; open-end credit A. It is the purpose of this Section to provide for parity between Louisiana creditors and non-Louisiana financial institutions extending open-end credit in this state, as well as to promote the retention of existing financial services …
La. Rev. Stat. § 6:551.1 Definitions
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§551.1. Definitions For purposes of this Part the following definitions shall apply: (1) "Agency" means any office or any place of business of a foreign bank located in any state of the United States at which credit balances are maintained incidental to or arising out of the exer…
La. Rev. Stat. § 6:551.10 Certificate of authority; transfer prohibited; display required
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§551.10. Certificate of authority; transfer prohibited; display required A foreign bank may engage in the business authorized by the provisions of this Part for not more than one year after the date of the certificate of authority or until the certificate of authority is suspende…
La. Rev. Stat. § 6:551.11 Renewal
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§551.11. Renewal A certificate of authority may be renewed annually within thirty days before the expiration of such certificate of authority upon application to the commissioner. Such certificate of authority may be renewed upon a determination that the foreign bank is in a safe…
La. Rev. Stat. § 6:551.12 Revocation and surrender
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§551.12. Revocation and surrender A. A certificate of authority may be revoked by the commissioner at any time upon a determination that the foreign bank has not met the criteria established by R.S. 6:551.11 for the renewal of a certificate of authority. B. In the event that a ce…
La. Rev. Stat. § 6:551.13 State agency; authorized actions
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§551.13. State agency; authorized actions A foreign bank granted a certificate of authority to transact business in this state through a state agency may: (1) Borrow and lend money with or without real or personal security. (2) Purchase, sell, and make loans whether or not secure…
La. Rev. Stat. § 6:551.14 State representative office; authorization; permitted activities
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§551.14. State representative office; authorization; permitted activities A. With the authorization of the commissioner of financial institutions, a foreign bank may, subject to approval from the Federal Reserve Board, establish a representative office in this state subject to th…
La. Rev. Stat. § 6:551.15 State administrative office; authorization; permitted activities
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§551.15. State administrative office; authorization; permitted activities A. With the authorization of the commissioner of financial institutions, a foreign bank may, subject to approval from the Federal Reserve Board, establish a state administrative office in this state subject…
La. Rev. Stat. § 6:551.16 Branch banks and agencies
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§551.16. Branch banks and agencies A. A federal agency or branch may engage in activities in this state as authorized under the International Banking Act of 1978, as amended, and any other applicable federal law. B. A foreign bank may establish a state-authorized branch or agency…
La. Rev. Stat. § 6:551.17 State international banking facilities
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§551.17. State international banking facilities A. Any branch or agency of a foreign bank, domestic bank, and any Edge Act or agreement corporation may establish and maintain a state international banking facility, subject to the authorization of the commissioner of financial ins…
La. Rev. Stat. § 6:551.18 Purchase of real estate
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§551.18. Purchase of real estate A foreign bank's authority to purchase and own real estate and loan money in this state is subject to the limitations imposed on state banks. Acts 2004, No. 420, §1.
La. Rev. Stat. § 6:551.19 Paid-in capital; surplus; undivided profits
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§551.19. Paid-in capital; surplus; undivided profits Before opening a branch, agency, or office in this state and annually thereafter so long as a branch, agency, or office is maintained in this state, a foreign bank granted a certificate of authority pursuant to this Part shall …
La. Rev. Stat. § 6:551.2 Foreign banking activities; authorized
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§551.2. Foreign banking activities; authorized A foreign bank may open and operate a representative office, administrative office, agency, branch, subsidiary bank, or an Edge Act or agreement corporation or operate as an international banking facility in this state subject to the…
La. Rev. Stat. § 6:551.20 Capital requirements
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§551.20. Capital requirements Every foreign bank issued a certificate of authority to transact business in this state under the provisions of this Chapter shall comply with the following requirements, in addition to other requirements specifically provided in this Chapter: (1) Ex…
La. Rev. Stat. § 6:551.21 Purchase of credit instruments
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§551.21. Purchase of credit instruments Purchases and discounts of bills of exchange, bonds, debentures, and other obligations and extensions of credit and acceptances by an agency or branch within this state shall be subject to the same limitations as to amount in relation to ca…
La. Rev. Stat. § 6:551.22 Annual report and periodic reporting requirements
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§551.22. Annual report and periodic reporting requirements A. Every foreign bank doing business in this state and subject to this Chapter shall, at such times and in such form as the commissioner shall prescribe, make written reports in the English language to the commissioner un…
La. Rev. Stat. § 6:551.23 Termination
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§551.23. Termination A. When a foreign bank which has been granted a certificate of authority to maintain an agency, branch, or office in this state is dissolved or its authority or existence is otherwise terminated or canceled in the jurisdiction of its incorporation, a certific…
La. Rev. Stat. § 6:551.24 Rules and regulations
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§551.24. Rules and regulations The commissioner may promulgate rules and regulations in accordance with the Administrative Procedure Act to provide for the regulation of bank agencies, branches, and representative offices and any other authorized offices of foreign banks operatin…
La. Rev. Stat. § 6:551.25 Examination authority
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§551.25. Examination authority The Office of Financial Institutions shall have full authority to examine, at any time, any branch, agency, or other office authorized under this Chapter. Acts 2004, No. 420, §1.
La. Rev. Stat. § 6:551.26 Asset pledge requirements
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§551.26. Asset pledge requirements The commissioner of the Office of Financial Institutions is authorized to promulgate any necessary rules relating to asset pledge requirements for foreign banks operating in Louisiana and subject to this Chapter. Acts 2004, No. 420, §1.
La. Rev. Stat. § 6:551.3 Subsidiary bank; authorization
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§551.3. Subsidiary bank; authorization A. A foreign bank may establish a subsidiary bank in this state subject to the provisions of this Chapter and applicable federal law. B. A foreign bank may acquire a subsidiary bank in this state in accordance with the federal Bank Holding C…
La. Rev. Stat. § 6:551.4 Edge Act or agreement corporation; authorization
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§551.4. Edge Act or agreement corporation; authorization A. Any United States bank or foreign bank may organize or acquire a subsidiary to engage in international banking activities specifically authorized in the Edge Act. This subsidiary may be an Edge Act corporation chartered …
La. Rev. Stat. § 6:551.5 Location; limitation
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§551.5. Location; limitation A foreign bank may, upon compliance with this Part, establish and operate a state agency, branch, bank, or office in any parish of this state. Acts 2004, No. 420, §1.
La. Rev. Stat. § 6:551.6 Filing requirements
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§551.6. Filing requirements Before transacting business in this state through a state agency, branch, or office a foreign bank shall file with the commissioner: (1) A duly authenticated copy of its articles of incorporation and bylaws or other constitutive documents, and if a cop…
La. Rev. Stat. § 6:551.7 Requirements to operate; fees
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§551.7. Requirements to operate; fees A foreign bank may not maintain and operate a state agency, branch, or office in this state unless the foreign bank: (1) Is authorized by its charter to carry on such a business and the foreign bank has complied with the laws of the country u…
La. Rev. Stat. § 6:551.8 Application required; contents
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§551.8. Application required; contents A. To obtain a certificate of authority for, or authority to operate, a state agency, branch, or office, a foreign bank must submit to the commissioner an application which shall set forth: (1) The name of the foreign bank, together with the…
La. Rev. Stat. § 6:551.9 Approval or disapproval of application
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§551.9. Approval or disapproval of application A. The commissioner may approve or disapprove an application but may not approve an application unless the requirements of this Part relating to the foreign banks are met. B. The commissioner may disapprove an application if he deter…
La. Rev. Stat. § 6:571 General authority
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§571. General authority When authorized by the commissioner, a corporation may be chartered pursuant to the provisions of Chapter 3 of this Title for the purpose of becoming a trust company. The commissioner may apply the provisions of Chapter 3 of this Title, regarding state ban…
La. Rev. Stat. § 6:572 Definitions
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§572. Definitions As used in this Chapter: (1) "Trust business" means the holding out by a person to the public by advertising, solicitation, or other means that the person is available to perform any service of a fiduciary in this state or another state. (2) "Trust company" mean…
La. Rev. Stat. § 6:573 Organization
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§573. Organization A. A trust company shall be organized pursuant to this Title and shall be managed and governed pursuant to this Chapter. The organizational documents of a trust company must contain the following statement: "This corporation, limited liability company, limited …
La. Rev. Stat. § 6:574 Capital
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§574. Capital A. The commissioner shall not issue a charter to a trust company having required capital of less than two million dollars. Any trust company chartered pursuant to this Chapter shall maintain a minimum of two million dollars in capital at all times. B. The commission…
La. Rev. Stat. § 6:575 Powers
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§575. Powers A. A trust company shall have all powers necessary to conduct fiduciary and trust functions. However, a trust company does not have the power to solicit, receive, or accept money or its equivalent on deposit, or to lend money, except in transactions reasonably relate…
La. Rev. Stat. § 6:576 New application, supervision, regulation, and examination of trust bank
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§576. New application, supervision, regulation, and examination of trust bank A. One or more natural persons, the majority of whom must be domiciled in this state, desiring to incorporate and operate a trust company shall file with the commissioner an application for a certificat…