There is a newer version
of
this Statute
2018 Louisiana Laws
Revised Statutes
TITLE 6 - Banks and Banking
RS 6:261 - Accounting procedures
Universal Citation: LA Rev Stat § 6:261 (2018)
PART VI. CAPITAL, SURPLUS, DIVIDENDS
§261. Accounting procedures
A. Upon initial issuance of shares, that part of the consideration received therefor which is equal to the par value thereof shall be allocated to capital stock, and the remainder shall be allocated to surplus.
B. Except as otherwise provided in R.S. 6:263 and 416, a state bank may transfer from or reduce its capital stock or surplus only in conformity with written permission of the commissioner.
C. Repealed by Acts 2003, No. 570, §2, eff. June 27, 2003.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 1997, No. 966, §1; Acts 2001, No. 915, §1, eff. June 26, 2001; Acts 2003, No. 570, §2, eff. June 27, 2003.
Disclaimer: These codes may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
