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0 chapters · 764 sections in this title.
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. § 6:891 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. § 6:912 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 …
La. Rev. Stat. § 6:921 Thrift and home financing organizations; exceptions
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§921. Thrift and home financing organizations; exceptions A. Any person accepting moneys from the public and engaged in home financing, whether or not incorporated, and any person hereafter formed or doing business as a building and loan association, society, company, or thrift i…
La. Rev. Stat. § 6:922 Powers of attorney
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§922. Powers of attorney Any association may continue to recognize the authority of an attorney-in-fact authorized in writing to manage or to make withdrawals either in whole or in part from the savings accounts or of the shares and the sums paid in on account of unpledged saving…
La. Rev. Stat. § 6:923 Exemption from security laws
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§923. Exemption from security laws Associations, their officers, employees or agents, savings or demand accounts, shares and stock, and the sale, issuance, or offering of savings or demand accounts, stock or shares of any association are hereby exempted from all provisions of law…
La. Rev. Stat. § 6:924 Holder of note may enforce
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§924. Holder of note may enforce Any pledgee or other lawful holder of any note or other evidence of indebtedness due to any association may enforce in its own name or in the name of the association all appropriate remedies to enforce collection, whether or not the shares or savi…
La. Rev. Stat. § 6:925 Unlawful to destroy property
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§925. Unlawful to destroy property A. It shall be unlawful for any person to conceal, destroy, damage, or remove any property, improvement, fixture, appliance, or equipment from any immovable property without the written consent of the association having an unpaid vendor's privil…
La. Rev. Stat. § 6:926 Foreclosure of mortgage
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§926. Foreclosure of mortgage In the event of foreclosure by executory process of a mortgage, on either movable or immovable property, in favor of an association, the certificate of any officer of the association, certifying as to the amount due on the mortgage and the maturity t…
La. Rev. Stat. § 6:927 Communication from commissioner having effect of approval or order to be in writing and signed
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§927. Communication from commissioner having effect of approval or order to be in writing and signed Every approval by the commissioner given pursuant to the provisions of this Chapter and every communication having the effect of an order or instruction to any association shall b…
La. Rev. Stat. § 6:928 Right of commissioner to utilize courts
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§928. Right of commissioner to utilize courts At any time after any controversy has arisen between the commissioner and an association with respect to any question of law or regulation or with respect to any question involving irreparable damage to the association, the commission…
La. Rev. Stat. § 6:929 Rights of association to contest decisions of commissioner
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§929. Rights of association to contest decisions of commissioner Whenever any controversy has arisen between the commissioner and an association with respect to any question of law or regulation or with respect to any other question involving immeasurable or irreparable damage to…
La. Rev. Stat. § 6:930 Defamation of institutions prohibited; fine
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§930. Defamation of institutions prohibited; fine Whoever willfully and knowingly makes, issues, circulates, transmits, or causes or knowingly permits to be made, issued, circulated, or transmitted, any statement or rumor, written, printed, reproduced in any manner, or by word of…
La. Rev. Stat. § 6:931 False statements and similar actions prohibited; fine
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§931. False statements and similar actions prohibited; fine Whoever knowingly makes or causes to be made, directly or indirectly, or through any agency whatsoever, any false statement or report, or willfully overvalues any land, property, or security for the purpose of influencin…
La. Rev. Stat. § 6:932 Act of controlling
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§932. Act of controlling Insofar as the provisions of this Chapter are inconsistent with the provisions of any other law affecting saving* associations, the provisions of this Chapter shall control. More particularly, the provisions of this Chapter, with respect to the organizati…
La. Rev. Stat. § 6:933 Application to existing associations
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§933. Application to existing associations Except as otherwise expressly provided in this Chapter, all of the provisions of this Chapter shall be applicable to every existing association heretofore formed under the laws of this state for a purpose or purposes for which such an as…
La. Rev. Stat. § 6:937 Dividends; requirements
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§937. Dividends; requirements A. The provisions of R.S. 6:1207, and any rules and regulations promulgated thereunder, shall be applicable to associations in the same manner as they are to savings banks. B. If a capital stock association results from conversion of a mutual associa…
La. Rev. Stat. § 6:938 Power of state or federal mutual association to convert to capital stock association; procedures; approval of department required; minutes of meeting; succession
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§938. Power of state or federal mutual association to convert to capital stock association; procedures; approval of department required; minutes of meeting; succession A.(1) If two-thirds of the members of the board of directors determine, and the commissioner concurs, that a sub…
La. Rev. Stat. § 6:939 Plan of conversion from mutual to capital stock association; mandatory and permissive requirements
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§939. Plan of conversion from mutual to capital stock association; mandatory and permissive requirements A. The plan of conversion shall provide: (1) That each savings account holder of the mutual association shall receive a withdrawable account in the capital stock association e…
La. Rev. Stat. § 6:940 Acquisition of control over an existing association
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§940. Acquisition of control over an existing association In any case in which a person or group of persons acting in concert propose to purchase or acquire voting common stock of any capital stock association after its organization or conversion, and the purchase or acquisition …
La. Rev. Stat. § 6:941 Restrictions on acquisition of control of capital stock associations
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§941. Restrictions on acquisition of control of capital stock associations A. As used in this Section, unless the context otherwise requires: (1) "Business organization" or "company" means any corporation, partnership, trust, joint stock company, or similar organization, but does…
La. Rev. Stat. § 6:942 Listing and assessment of capital stock; procedure; exemption
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§942. Listing and assessment of capital stock; procedure; exemption A. The shares of stock of all capital stock associations are hereby declared subject to taxation for all purposes in this state. B. Shares of stock of all capital stock associations shall be assessed for the purp…
La. Rev. Stat. § 6:943 Listing and assessing of stock; place
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§943. Listing and assessing of stock; place A. The stock shall be assessed at the percent of their valuation made by the assessing authorities to the stockholders at the domicile or location of the capital stock association who appear as such upon the books, regardless of the dom…
La. Rev. Stat. § 6:944 Listing and assessing of stock; branch capital stock associations
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§944. Listing and assessing of stock; branch capital stock associations A. When any capital stock association chartered under the laws of the state or the United States, doing business in this state, operates a branch capital stock association office or offices in different munic…
La. Rev. Stat. § 6:945 Listing and assessing of real estate of capital stock associations
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§945. Listing and assessing of real estate of capital stock associations A. The capital stock association house and all real estate owned by any capital stock association shall be assessed directly to it in accordance with law at not to exceed its actual cash value, or whatever p…
La. Rev. Stat. § 6:946 Listing and assessing of stock and real estate; payment of tax; recovery from stockholders
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§946. Listing and assessing of stock and real estate; payment of tax; recovery from stockholders All the taxes assessed against shares of stock shall be paid by the capital stock association, and it shall be entitled to collect the amount thus paid from the stockholders or their …
La. Rev. Stat. § 6:947 Listing and assessing of stock; report by official
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§947. Listing and assessing of stock; report by official A. In the event the association has not timely paid its taxes, the assessor may require the president, vice president, secretary, treasurer, or other person so designated, to furnish a complete sworn list of those who are c…
La. Rev. Stat. § 6:948 Power of commissioner to issue rules, regulations, and orders to
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§948. Power of commissioner to issue rules, regulations, and orders to implement this Chapter The commissioner may issue rules, regulations, or orders to implement this Chapter and to further its purposes, and when issued in accordance with R.S. 49:961, such rules, regulations, a…
La. Rev. Stat. § 6:949 Savings and demand accounts of capital stock savings and loan associations and capital stock savings banks as legal investments
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§949. Savings and demand accounts of capital stock savings and loan associations and capital stock savings banks as legal investments Notwithstanding and irrespective of any provisions of Titles 6, 39, or 49 of the Louisiana Revised Statutes of 1950, or any other statute, law, ru…
