2006 Louisiana Laws - RS 6:336 — Legal and regulatory compliance; self-evaluations; privilege of results

§336.  Legal and regulatory compliance; self-evaluations; privilege of results

It is the intent of the legislature to encourage banks and other financial institutions to engage in self-evaluations, self-assessments, self-testing, and self-corrections with respect to compliance with applicable state and federal banking laws and regulations.  To that end, and notwithstanding any other law to the contrary, the results of any such self-determination, self-assessment, self-testing, or self-corrections, and any notes, reports, or work product derived therefrom, whether prepared by internal personnel or by outside attorneys, accountants, or consultants, shall be deemed privileged for all purposes and shall not be subject to discovery in any private civil action brought against the bank or other financial institution alleging noncompliance with or violation of such applicable state and federal banking laws and regulations.

Acts 1995, No. 1084, §1, eff. June 29, 1995.