Title 6, Banks and Banking
0 chapters · 809 sections in this title.
La. Rev. Stat. § 6:831 Shares or savings accounts as additional security
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§831. Shares or savings accounts as additional security An association may accept its own shares or its savings accounts as additional security. Acts 1983, No. 675, §1.
La. Rev. Stat. § 6:832 Immovables
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§832. Immovables A. Until all indebtedness due an association and secured by a mortgage on real estate and home appliances and equipment has been paid, the home appliances and equipment shall be considered a part of the immovable property and as such, immovables. B. Any mobile ho…
La. Rev. Stat. § 6:833 Conveyance of property securing loan
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§833. Conveyance of property securing loan A. Whenever property subject to a mortgage in favor of an association is sold or transferred by contract without the written consent of the association, either with or without the assumption of the association's loan, the loan and obliga…
La. Rev. Stat. § 6:833.1 Repealed by Acts 1970, No
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§833.1. Repealed by Acts 1970, No. 234, §2.
La. Rev. Stat. § 6:834 Solicitation or acceptance of gifts for making, or assisting in, procuring a loan
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§834. Solicitation or acceptance of gifts for making, or assisting in, procuring a loan A. Any officer or director who accepts or solicits anything of value from any person for making, or assisting in procuring, or advising the making, of any loan in or with any association, and …
La. Rev. Stat. § 6:851 Home office
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§851. Home office The home office is the principal office of the association. Acts 1970, No. 234, §1. Acts 1983, No. 675, §1; Acts 1995, No. 248, §1, eff. June 14, 1995.
La. Rev. Stat. § 6:852 Branch office
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§852. Branch office A. A branch office is a legally established place of business of the association, other than the home office, authorized by the board of directors and approved by the commissioner. B. Each association shall be operated from the home office. All branch offices …
La. Rev. Stat. § 6:853 Closure of branch office
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§853. Closure of branch office A. No savings and loan association 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 association or savings bank shall submit in writing to t…
La. Rev. Stat. § 6:861 Power to merge or consolidate; consent of commissioner; rules and regulations
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§861. Power to merge or consolidate; consent of commissioner; rules and regulations A. Pursuant to a plan adopted and approved by a two-thirds vote of each board of directors, two or more associations may merge or consolidate. A plan of merger or consolidation shall be evidenced …
La. Rev. Stat. § 6:862 Merger; when effective
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§862. Merger; when effective A. If the joint agreement is for a merger, the agreement, duly acknowledged by the president and secretary of each association which is a party to it, together with an affidavit by the president and secretary of each association establishing that the …
La. Rev. Stat. § 6:863 Consolidation; when effective
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§863. Consolidation; when effective A. If the joint agreement is for consolidation, articles of incorporation for the new corporation shall be prepared, approved, and filed, as required by law, except that the associations consolidating shall be named as the incorporators of the …
La. Rev. Stat. § 6:864 Effect of merger or consolidation
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§864. Effect of merger or consolidation When the merger or consolidation becomes effective, the separate existence of each constituent association ceases except for that of the surviving association in a merger. The surviving associations, or the new association in case of a cons…
La. Rev. Stat. § 6:865 Voluntary transfer of assets
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§865. Voluntary transfer of assets A.(1)(a) With the prior written consent of the commissioner, which consent shall be attached to the instrument of sale or other disposition, any state stock or mutual association may sell, lease, exchange, or otherwise dispose of all, or substan…
La. Rev. Stat. § 6:866 Commissioner may provide for members or stockholders to vote on plan
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§866. Commissioner may provide for members or stockholders to vote on plan Notwithstanding any other provision of Part XII of this Chapter, the commissioner may require that the plan be submitted to the voting members or stockholders of the acquiring association at a duly called …
La. Rev. Stat. § 6:867 Dissolution or liquidation
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§867. Dissolution or liquidation An association may be dissolved or liquidated either voluntarily or involuntarily. If the proceedings are voluntary, they may be instituted by any member or stockholder of the association and the board of directors shall maintain control over the …
La. Rev. Stat. § 6:868 Voluntary proceedings for dissolution
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§868. Voluntary proceedings for dissolution A. No association shall be permitted to dissolve and liquidate voluntarily without the written consent of the commissioner. B. An association may be voluntarily dissolved and liquidated upon the vote of two-thirds of the members or stoc…
La. Rev. Stat. § 6:869 Association continues as corporate entity for sole purpose of winding up affairs
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§869. Association continues as corporate entity for sole purpose of winding up affairs Upon the approval of the commissioner, the association shall be dissolved and shall cease to carry on business, but shall continue as a corporate entity for the sole purpose of paying, satisfyi…
La. Rev. Stat. § 6:870 Powers of liquidating trustees
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§870. Powers of liquidating trustees A. While acting as liquidators, the board of directors shall proceed as quickly as may be practicable to wind up the affairs of the association and, to the extent necessary or expedient to that end, shall exercise all the powers of such dissol…
La. Rev. Stat. § 6:871 Association subject to commissioner during liquidation
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§871. Association subject to commissioner during liquidation A. The association, during the liquidation of the assets of the association by the board of directors, shall continue to be subject to the supervision of the commissioner, and the board of directors shall report the pro…
La. Rev. Stat. § 6:872 Involuntary dissolution; generally
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§872. Involuntary dissolution; generally A.(1) Whenever it appears: (a) That any association has violated its charter; (b) That its officers or directors have violated any law regulating the operation of such institutions; (c) That the association is in an impaired condition; (d)…
La. Rev. Stat. § 6:873 Involuntary dissolution; commissioner shall take possession
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§873. Involuntary dissolution; commissioner shall take possession A. In all cases when the commissioner has closed an association and taken possession of the affairs, books, and property of the association, he shall as soon as practicable thereafter file a motion in the district …
La. Rev. Stat. § 6:874 Involuntary dissolution; notice to creditors
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§874. Involuntary dissolution; notice to creditors Upon his confirmation as liquidator, the commissioner shall give written notice of that fact to all creditors of the association holding or having possession of any of its assets. No creditor knowing of the taking possession or n…
La. Rev. Stat. § 6:875 Involuntary dissolution; powers of commissioner; court approval
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§875. Involuntary dissolution; powers of commissioner; court approval A. The commissioner may perform any acts and take all steps he deems necessary to conserve and collect the association's assets. B. On the order of the court having jurisdiction, he may release, compromise, or …
La. Rev. Stat. § 6:876 Involuntary dissolution; inventory
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§876. Involuntary dissolution; inventory A. As soon as practicable the commissioner shall make or cause to be made in duplicate an inventory of all the property and other assets of the association. One copy shall be retained by him or his special agent and one copy shall be filed…
La. Rev. Stat. § 6:877 Involuntary dissolution; fees
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§877. Involuntary dissolution; fees A. The compensation of the special agent, counsel, clerical assistant, and all other necessary expenses of involuntary liquidation and distribution shall be fixed by the commissioner, subject to the approval of the district court having jurisdi…
La. Rev. Stat. § 6:878 Involuntary dissolution; distribution of assets
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§878. Involuntary dissolution; distribution of assets A. At any time after the date fixed in the notice for the presentation of claims, the commissioner may make distributions to members or stockholders out of the assets in his hands, after paying all expenses and fees authorized…
La. Rev. Stat. § 6:879 Involuntary dissolutions; creditors may not dispose of pledged securities
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§879. Involuntary dissolutions; creditors may not dispose of pledged securities A. A creditor of an association shall not dispose of securities pledged by the association prior to its being taken charge of by the commissioner, for less than the face value of the securities, witho…
La. Rev. Stat. § 6:880 Liquidation by federal corporation
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§880. Liquidation by federal corporation A. Upon the appointment of the federal corporation by the commissioner as liquidator, the federal corporation shall apply to the court for confirmation. The application for confirmation may be by joint motion with the commissioner in the o…
La. Rev. Stat. § 6:881 Commissioner may examine association
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§881. Commissioner may examine association A.(1) The commissioner, at any time he deems it expedient or necessary, may proceed to make an examination of the books and records of the association. (2) If, after the examination, he believes that the capital of the association is imp…
La. Rev. Stat. § 6:882 Commissioner may order association to discontinue any illegal practice
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§882. Commissioner may order association to discontinue any illegal practice A. If the commissioner, as a result of any examination or from any report made to him, finds that any association is violating the provisions of its certificate of incorporation or bylaws, or the laws of…
La. Rev. Stat. § 6:883 Conservator
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§883. Conservator A.(1) If the commissioner, as a result of an examination or from any report made to him, believes that the public interest may be served by the appointment of a conservator, and if he finds that any association is in an impaired condition; is engaging in practic…
La. Rev. Stat. § 6:884 §§884 to 890 Repealed by Acts 1970, No
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§884. §§884 to 890 Repealed by Acts 1970, No. 234, §2.
La. Rev. Stat. § 6:891 Foreign association defined
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§891. Foreign association defined For the purposes of this Chapter, the term "foreign association" shall include any person, firm, company, association, fiduciary, partnership, corporation, foreign building and loan association, society, or any corporation representing itself to …
La. Rev. Stat. § 6:892 Conduct of business in accordance with this Part; certificate of authority and public necessity
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§892. Conduct of business in accordance with this Part; certificate of authority and public necessity Other laws notwithstanding, no foreign association shall be permitted to conduct its business in Louisiana except in accordance with the provisions of this Chapter governing loca…
La. Rev. Stat. § 6:893 Certificate of authority; exceptions
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§893. Certificate of authority; exceptions A. Nothing in this Part shall be construed to repeal R.S. 12:302(K) or to require foreign associations to qualify under this Part for the purpose of: (1) Participating in mortgage notes or loans with local associations, national or state…
La. Rev. Stat. § 6:894 Certificate of authority; examination of qualifications
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§894. Certificate of authority; examination of qualifications Before issuing a certificate of authority to any foreign homestead or building and loan association, society, or company, the commissioner shall examine the qualifications and responsibility of the persons managing the…
La. Rev. Stat. § 6:895 Penalty for doing business without certificate of authority
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§895. Penalty for doing business without certificate of authority Any person acting for himself or as the agent or representative of any person who does business, solicits, or attempts to do business in this state for any foreign association or their agents that has not procured …
La. Rev. Stat. § 6:896 Issuance of certificate of authority; renewal annually
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§896. Issuance of certificate of authority; renewal annually Whenever the foreign association has complied with provisions of this Part and the commissioner is satisfied that it is doing business according to the provisions of this Part, that it is in sound financial condition an…
La. Rev. Stat. § 6:897 Deposits as security; foreign association ceasing to do business in Louisiana
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§897. Deposits as security; foreign association ceasing to do business in Louisiana A. The deposit made with the state treasurer shall be held as security for all claims of residents of Louisiana against the association and subjected to the payment of claims in the same manner as…
La. Rev. Stat. § 6:898 Supervision and examination
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§898. Supervision and examination The commissioner shall examine and supervise all foreign associations doing any such business in this state in the same manner as he examines and supervises associations of this state. Foreign associations shall pay the supervision and examinatio…
La. Rev. Stat. § 6:901 Powers, privileges, and exemptions of federal associations
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§901. Powers, privileges, and exemptions of federal associations A federal savings association, federal savings and loan association, or federal savings bank incorporated pursuant to the laws of the United States and having its principal business office located within the territo…
La. Rev. Stat. § 6:902 Companion authority
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§902. Companion authority A. It is expressly provided that such powers, privileges, benefits, immunities, and exemptions that are provided by the laws of this state for associations organized under the laws of this state and for the members, stockholders, depositors, or borrowers…
La. Rev. Stat. § 6:903 Additional companion authority
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§903. Additional companion authority Notwithstanding any other provision of law to the contrary, the commissioner shall have the authority to promulgate rules and regulations granting to associations the same authority granted to federally chartered savings and loan associations,…
La. Rev. Stat. § 6:904 Conversion into state-chartered association
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§904. Conversion into state-chartered association A. At an annual meeting or at any special meeting of the members or stockholders called to consider such action, any federal association may convert itself into an association under this Chapter upon a vote of fifty-one percent or…
La. Rev. Stat. § 6:905 Limitation
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§905. Limitation No conversion of a federal association, direct or indirect, shall be permitted except as specifically authorized by this Chapter. Acts 1970, No. 234, §1. Acts 1983, No. 675, §1.
La. Rev. Stat. § 6:906 Conversions; locations
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§906. Conversions; locations Any federal association that converts to a state association or any state association that converts to a federal association shall have the right to keep open and operate office locations that it has in operation on the effective date of the conversio…
La. Rev. Stat. § 6:907 Formation of savings and loan holding companies
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§907. Formation of savings and loan holding companies Notwithstanding any other provision of law to the contrary, a savings and loan association whether chartered on a mutual or capital stock basis may form a savings and loan holding company. The commissioner of financial institu…
La. Rev. Stat. § 6:908 Oppressed shareholder's remedies
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§908. Oppressed shareholder's remedies The provisions of R.S. 6:518 shall be applicable to savings and loan holding companies and their subsidiaries insured by the Federal Deposit Insurance Corporation. Acts 2022, No. 261, §1.
La. Rev. Stat. § 6:911 REPEALED BY ACTS 1993, NO
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§911. REPEALED BY ACTS 1993, NO. 278, §1, EFF. JAN. 1, 1994.
La. Rev. Stat. § 6:912 Additional foreign association fees
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§912. Additional foreign association fees Any foreign association applying for a certificate from the commissioner shall pay such fee as he shall determine. Furthermore, the commissioner may assess an extra fee, including actual expenses, for all examinations which may be needed …