2022 Louisiana Laws
Revised Statutes
Title 6 - Banks and Banking
TITLE 6
BANKS AND BANKING
CHAPTER 1. GENERAL PROVISIONS
- §6:1. Short title
- §6:2. General definitions
- §6:3. Effect on existing banks
- §6:4. Employment reference; release of certain information
- §6:5. Public policy
CHAPTER 2. OFFICE OF FINANCIAL INSTITUTIONS
PART I. GENERAL PROVISIONS
- §6:101. Establishment of office; commissioner
- §6:102. Officers and employees; post-employment restriction
- §6:103. Records of the Office of Financial Institutions
PART II. POWERS AND DUTIES OF THE COMMISSIONER
- §6:121. Regulatory powers; promulgation of rules and regulations
- §6:121.1. Enforcement powers of commissioner
- §6:121.1.1. Restrictions on enforcement power; cannabis-related legitimate businesses and service providers; egregious violations
- §6:121.2. Authority to obtain criminal history record information
- §6:121.3. Guidance by commissioner; advisory opinions
- §6:121.4. Addition of directors and executive officers of troubled state- chartered institutions and holding companies
- §6:121.5. Application containing false information or misrepresentations
- §6:121.6. Authority of the commissioner; nondepository institutions; emergencies
- §6:121.7. Return of payment; imposition of fee
- §6:121.8. Licensing systems
- §6:122. Power to issue cease and desist orders
- §6:123. Visitation and examination of state financial institutions
- §6:124. Call reports; statement of financial condition
- §6:124.1. Community reinvestment rating; acceptance of public funds
- §6:125. Reports of financial condition
- §6:126. Assessments on financial institutions; disposition of fees; creation of special fund
- §6:127. Retention of records of financial institutions; microfilm
- §6:128. Financial institutions' holidays; regulations
- §6:129. Circulating rumor respecting condition of financial institution
- §6:130. Relocation of main office
PART III. DECISIONS AND REVIEW
- §6:131. Applicability
- §6:132. Written decision; reasons; hearing
- §6:133. Reconsideration of decision
- §6:134. Judicial review; venue; effect
- §6:135. Record filed with court
- §6:136. Basis for judicial review
- §6:137. Judicial review; test; burden
- §6:138. Remand to the commissioner
CHAPTER 3. STATE BANKS
SUBCHAPTER A. ORGANIZATION AND OPERATION
OF STATE BANKS
PART I. DEFINITIONS
PART II. ORGANIZATION OF STATE BANKS
- §6:211. Incorporation; number of incorporators, application for certificate of authority, filing fee; organization as a limited liability company
- §6:212. Corporate name
- §6:213. Articles of incorporation, filing, form, content; letter of acceptance for filing
- §6:214. Investigation into proposed state bank
- §6:215. Capital requirements; additional condition precedent
- §6:216. Certificate of authority; issuance, refusal
- §6:217. Effect of issuance of certificate of authority, filing requirements
- §6:218. Expenses of organization and financing
- §6:219. Bylaws
- §6:220. Stockholders' agreements
PART III. AMENDMENT AND RESTATEMENT OF ARTICLES
- §6:231. Method of amending articles generally
- §6:232. Articles of amendment; contents and filing
- §6:233. Restatement of articles
- §6:234. Special amendment provisions
- §6:721. Method of amending articles generally
- §6:722. §§722 to 730 Repealed by Acts 1970, No. 234, §2.
PART IV. POWERS AND FUNCTIONS OF STATE BANKS
- §6:241. General corporate powers
- §6:242. Banking powers
- §6:243. Immovable property; dealings
- §6:244. Transfers by bank and other acts in contemplation of insolvency
- §6:245. Changes in core business
- §6:246. Bank operating subsidiaries
PART V. SHARES
- §6:251. Classes of shares; fractional shares
- §6:252. Issuance of shares; consideration
- §6:253. Reservation of shares
- §6:254. Convertible securities and stock-purchase rights
- §6:255. Certificates of stock
- §6:256. Transfer of shares
- §6:257. Restriction on transfer of shares and other securities
PART VI. CAPITAL, SURPLUS, DIVIDENDS
- §6:261. Accounting procedures
- §6:262. Impairment of capital; special meeting; notice to restore capital; assessments against stockholders; voluntary restoration
- §6:263. Dividends; stock purchased or redeemed; capital surplus required
PART VII. STOCKHOLDERS
- §6:271. Stockholders' preemptive rights
- §6:272. Stockholders' meetings
- §6:273. Quorum
- §6:274. Voting of stockholders
- §6:275. Consent of stockholders
- §6:276. Fixing record date
- §6:277. Voting trusts
- §6:278. Registered holder of shares
- §6:279. Inspection of books and records of state banks; annual report to stockholders
PART VIII. DIRECTORS, OFFICERS, AND EMPLOYEES
- §6:281. Board of directors; powers, number, term
- §6:282. Board of directors; eligibility, election, oath
- §6:283. Meetings of the board; quorum, written consent
- §6:284. Committees of the board of directors
- §6:284.1. Compliance review committees; privilege created
- §6:285. Officers and agents; election, powers, duties
- §6:286. Indemnification of officers, directors, employees, and agents
- §6:287. Bond of officers and employees; insurance fund
- §6:288. Interested directors; quorum
- §6:289. Loans to executive officers and employees
- §6:290. Directors' examinations
PART IX. LIABILITY OF DIRECTORS, OFFICERS,
STOCKHOLDERS, AND SUBSCRIBERS
- §6:291. Relation and liability of directors and officers to bank and bank holding company stockholders
- §6:292. Directors or stockholders not participating in unlawful act
- §6:293. Actions against directors and officers of banks and bank holding companies
PART X. RESERVES
- §6:301. Cash reserves
- §6:302. Depleted reserve; notice, penalty
- §6:303. Sale and purchase of excess reserves; reports
PART XI. DEPOSITS
- §6:311. Types of accounts authorized to offer
- §6:311.1. Powers of attorney, procuration, and mandate; written notice of revocation
- §6:312. Alternative deposits; payment
- §6:313. Withdrawal of money or property deposited by or for minors
- §6:314. Trust deposits; death of depositor; payment
- §6:315. Adverse claims to deposit; procedure, indemnifying bond
- §6:315.1. Transfer of small deposits; death of depositor; affidavits required; penalties
- §6:316. Pledge of deposit accounts; rights and remedies
- §6:317. Ownership of deposited funds
- §6:318. Letters of credit; use by banks
- §6:319. Public funds deposits
PART XII. SAFE DEPOSIT AND SAFEKEEPING
- §6:321. Access to safety deposit box leased by multiple persons
- §6:322. Access to safety deposit box leased by corporation or unincorporated association
- §6:323. Access to safety deposit box leased by trust estate
- §6:324. Access to safety deposit box leased by a person or persons with designated agent or deputy
- §6:325. Death of a customer and access and transfer of contents of safety deposit boxes, money, and other property by bank to succession representatives, legatees, or heirs; authority
- §6:326. Transfer of contents of safety deposit boxes, money and other property by bank to legal representatives of minors or interdicts; authority
- §6:327. Abandonment of safety deposit box
- §6:327.1. Disposition of abandoned safety deposit box contents
- §6:328. Access to safety deposit boxes by authorized persons; security procedures
PART XIII. MISCELLANEOUS PROVISIONS
- §6:331. REPEALED BY ACTS 1993, NO. 278, §1, EFF. JAN. 1, 1994.
- §6:332. Attorney fiduciary accounts; overdraft notification to office of disciplinary counsel
- §6:333. Disclosure of financial records; reimbursement of costs
- §6:334. Foreclosure of mortgage
- §6:335. Sharing of electronic financial terminals
- §6:336. Legal and regulatory compliance; self-evaluations; privilege of results
- §6:337. Duty of secured party upon payment of insurance claim for damage to mortgaged residential property
- §6:338. Insurance settlement proceeds; return of excess funds; enforcement
SUBCHAPTER B. MERGERS, CONSOLIDATIONS,
LIQUIDATIONS, AND CONVERSIONS
PART I. MERGERS, CONSOLIDATIONS,
AND SHARE EXCHANGES
- §6:351. Authorization for mergers, consolidations, and share exchanges
- §6:352. Merger or consolidation procedure
- §6:352.1. Share exchange procedure
- §6:353. Consolidation; articles of incorporation
- §6:354. When merger or consolidation effective
- §6:355. Effect of merger or consolidation
PART II. CONVERSIONS
- §6:361. National bank converting into state bank
- §6:362. State bank converting into national bank
- §6:363. Continuation of corporate entity; use of old name
- §6:364. State bank converting into state stock savings and loan association
- §6:364.1. Approval of conversion; effective date of conversion
- §6:364.2. Effect of conversion from state bank into state stock savings and loan association
- §6:365. Federal or state stock savings and loan association converting into a state-chartered bank or savings bank
- §6:365.1. Merger or conversion of an existing financial institution
PART III. TRANSFER OF ASSETS
PART IV. VOLUNTARY DISSOLUTIONS
- §6:371. Voluntary liquidations and dissolutions of solvent banks with prior approval of commissioner
- §6:372. Liquidation procedure
PART V. RIGHTS OF DISSENTING STOCKHOLDERS
SUBCHAPTER C. CONSERVATORSHIPS, RECEIVERSHIPS,
AND INVOLUNTARY LIQUIDATIONS
PART I. CONSERVATORSHIPS OF STATE BANKS
- §6:381. Definitions
- §6:382. Authority of commissioner to take possession and commence conservatorship of state bank
- §6:383. Transfer of title to bank assets; extension of prescriptive periods
- §6:384. Notice of conservatorship; effect
- §6:385. Conservator's power to manage and control bank
- §6:386. Objection to conservatorship
- §6:387. Decision to liquidate bank or terminate conservatorship
PART II. INVOLUNTARY LIQUIDATION PROCEDURE
- §6:391. Commencement of receivership; confirmation of receiver
- §6:392. Emergency sale of assets; purchase and assumption of assets
- §6:393. Notice to creditors and depositors
- §6:394. Payment of claims
- §6:394.1. Right of set-off
- §6:395. Distribution of assets
- §6:396. Termination of executory contracts
- §6:397. Subrogation to rights of bank depositors
- §6:398. Liquidation procedures involving trust assets
- §6:399. Destruction of records
- §6:400. Discharge of receiver
- §6:401. Exclusive procedures
CHAPTER 4. PROHIBITED PRACTICES; SANCTIONS
- §6:411. Engaging in business of banking without authority; penalty
- §6:412. Unauthorized use of the word "bank" or similar words
- §6:412.1. Soliciting using lender's name or customer loan information; restrictions; injunction; damages; attorney fees; enforcement
- §6:413. Prohibited use of the term "insured savings"
- §6:414. Use of certain terms by persons other than financial institutions prohibited
- §6:414.1. Derogatory statements regarding financial condition of financial institution prohibited; penalty
- §6:415. Loans; other credit exposure; derivative transactions; restrictions; penalties
- §6:416. Loan on pledge of own stock and pledge of own stock prohibited
- §6:417. Unlawful solicitation or acceptance of gratuity or compensation by officer, director, or employee
- §6:418. Pledge of assets to secure deposits; exceptions; penalty
- §6:419. Receipt of deposits while insolvent
- §6:420. False entries or reports; failure to exhibit books; reporting of criminal violations
- §6:421. Overdrafts
- §6:422. Excessive borrowings or repurchase agreements
- §6:423. Check-cashing facility; location of business limited
CHAPTER 5. MISCELLANEOUS FINANCIAL INSTITUTIONS
- §6:452. Loan production offices; power of commissioner to adopt rules and regulations
- §6:453. Deposit production offices; power of commissioner to adopt rules and regulations
- §6:454. Combination of loan production office, deposit production office, and electronic financial terminal
CHAPTER 6. BANK STRUCTURE
PART I. BRANCHING
- §6:501. Branch offices; authority
- §6:502. Repealed by Acts 1988, No. 39, §2, eff. June 10, 1988.
- §6:503. Repealed by Acts 1988, No. 39, §2, eff. June 10, 1988.
- §6:504. Branches in foreign countries
- §6:505. Repealed by Acts 1988, No. 39, §2, eff. June 10, 1988.
- §6:506. Certificate of authority for branch office
- §6:507. Closure of branch office
PART II. BANK HOLDING COMPANIES
- §6:511. Declaration of policy
- §6:512. Definitions
- §6:513. Prohibitions
- §6:514. Penalties
- §6:515. Administration
- §6:516. Savings clause
- §6:517. Minority stockholders' rights
- §6:518. Oppressed shareholder's remedies
PART III. NONBANK BANKS
PART IV. INTERSTATE BANKING
- §6:531. Declaration of policy
- §6:532. Definitions
- §6:533. Scope of Part
- §6:534. Law applicable to interstate bank branches; purpose
- §6:535. Interstate acquisitions; filings with commissioner
- §6:536. Interstate bank acquisitions; filings with commissioner
- §6:537. Emergency acquisitions
- §6:537.1. Parity provision
- §6:538. Five-year continuous operation requirement
- §6:539. Agency activities; prohibitions
- §6:540. Authority to issue regulations; cooperative agreements; fees; enforcement
- §6:540.1. Savings clause
- §6:540.2. Construction with other laws
PART V. FINANCIAL SERVICE CENTER BANKS
- §6:541. Declaration of policy
- §6:542. Definitions
- §6:543. Limited exception to bank holding company acts
- §6:544. Organization of financial service center banks
- §6:545. Powers and functions
- §6:546. Additional powers; rate export
- §6:547. Additional requirements
- §6:548. Interest rate parity; open-end credit
CHAPTER 7. INTERNATIONAL BANKING ACTIVITIES
PART I. ACTIVITIES OF FOREIGN BANKS
- §6:551.1. Definitions
- §6:551.2. Foreign banking activities; authorized
- §6:551.3. Subsidiary bank; authorization
- §6:551.4. Edge Act or agreement corporation; authorization
- §6:551.5. Location; limitation
- §6:551.6. Filing requirements
- §6:551.7. Requirements to operate; fees
- §6:551.8. Application required; contents
- §6:551.9. Approval or disapproval of application
- §6:551.10. Certificate of authority; transfer prohibited; display required
- §6:551.11. Renewal
- §6:551.12. Revocation and surrender
- §6:551.13. State agency; authorized actions
- §6:551.14. State representative office; authorization; permitted activities
- §6:551.15. State administrative office; authorization; permitted activities
- §6:551.16. Branch banks and agencies
- §6:551.17. State international banking facilities
- §6:551.18. Purchase of real estate
- §6:551.19. Paid-in capital; surplus; undivided profits
- §6:551.20. Capital requirements
- §6:551.21. Purchase of credit instruments
- §6:551.22. Annual report and periodic reporting requirements
- §6:551.23. Termination
- §6:551.24. Rules and regulations
- §6:551.25. Examination authority
- §6:551.26. Asset pledge requirements
CHAPTER 7-A. LOUISIANA TRUST COMPANY LAW
PART I. GENERAL PROVISIONS
- §6:571. General authority
- §6:572. Definitions
- §6:573. Organization
- §6:574. Capital
- §6:575. Powers
- §6:576. New application, supervision, regulation, and examination of trust bank
- §6:577. Trust companies chartered under prior law
- §6:578. Affiliates
- §6:579. Self-dealing
- §6:580. Insurance coverage
- §6:581. Capital notes or debentures
PART II. PRIVATE TRUST COMPANIES
- §6:591. Private trust company
- §6:592. Requirements to apply for and maintain status as a private trust company
- §6:593. Conversion to public trust company
PART III. ACQUISITION AND OWNERSHIP OF TRUST
COMPANY FACILITIES AND OTHER REAL ESTATE
PART IV. TRUST COMPANY INVESTMENTS
- §6:611. Securities
- §6:612. Transactions in trust company shares or participation shares
- §6:613. Subsidiaries
- §6:614. Mutual funds
- §6:615. Engaging in commerce prohibited
PART V. TRUST DEPOSITS LIABILITIES
AND PLEDGE OF ASSETS
- §6:621. Borrowing limit
- §6:622. Pledge of assets
- §6:623. Fiduciary responsibility
- §6:624. Reports of apparent crime
- §6:625. Out-of-state activities
- §6:626. Out-of-state trust companies
- §6:627. Interstate supervision and regulation
CHAPTER 8. CREDIT UNIONS
- §6:641. Organization; act of incorporation
- §6:641.1. Public policy
- §6:641.2. REPEALED BY ACTS 1989, No. 495, §6.
- §6:642. Amendments of act of incorporation; commissioner's approval
- §6:643. Restriction of the use of term credit union
- §6:644. Powers
- §6:645. Membership
- §6:646. Supervision by commissioner; suspension or revocation of charter; liquidation; reports; examination fees
- §6:646.1. Involuntary dissolution; distribution of assets
- §6:647. Fiscal year; meetings; regulations as to voting
- §6:648. Elections; oath of office
- §6:649. Directors; officers; compensation
- §6:649.1. Relation and liability of directors and officers to a credit union and its members
- §6:649.2. Actions against directors and officers of credit unions
- §6:650. Credit committee
- §6:650.1. REPEALED BY ACTS 1989, No. 495, §6.
- §6:650.2. Educational committee
- §6:651. Supervisory committee; examination and report
- §6:652. Capital
- §6:652.1. Types of capital
- §6:652.2. Share and share certificate accounts as legal investments
- §6:652.3. Members' share capital
- §6:653. Shares of minors and in trust
- §6:653.1. Trust deposits; death of depositor; payment
- §6:653.2. Pledge of share accounts; rights and remedies
- §6:653.3. Ownership of shares
- §6:653.4. Death of member or account owner; access and transfer of accounts, shares, and property to succession representative, heirs, legatees, and legal representative
- §6:654. Rates of interest
- §6:655. Power to borrow
- §6:656. Loans
- §6:657. Repealed by Acts 2001, No. 887, §2, eff. June 26, 2001.
- §6:658. Dividends
- §6:659. Expulsion and withdrawal of members
- §6:659.1. Inactive accounts
- §6:659.2. Federally insured credit unions; abandonment of safety deposit box
- §6:660. Voluntary dissolution
- §6:661. Change of place of business
- §6:661.1. Branch offices
- §6:662. Taxation
- §6:662.1. Fiscal agents and depositories
- §6:663. Money deposited by minors
- §6:664. Money deposited in a multiple party account
- §6:665. Bylaws
- §6:666. Constitutionality
- §6:667. Conversion from federal to state and from state to federal credit union; division of assets
- §6:667.1. Powers, privileges, and exemptions of federal credit unions
- §6:667.2. Annual report
- §6:667.3. Records as evidence
- §6:668. Criminal Penalties
- §6:669. Short title
CHAPTER 9. HOMESTEAD AND SAVINGS AND LOAN
PART I. GENERAL DEFINITIONS
PART II. ORGANIZATION AND INCORPORATION
- §6:704. Organization
- §6:705. Incorporation; articles of incorporation; content; bylaws
- §6:706. Articles of incorporation; approval by the commissioner
- §6:707. Capital stock; types of stock; consideration for issuance; security for loan
- §6:708. Directors; number; qualifications; oath; vacancies
- §6:709. Members or stockholders meeting
- §6:710. Notice of meeting
- §6:711. Organization meeting
- §6:712. Corporate name
- §6:713. Forfeiture of charter for nonuse
- §6:714. Officers and agents; election, powers, duties
PART IV. POWERS
PART V. CAPITAL AND ACCOUNTS
- §6:741. Authorized capital
- §6:742. Miscellaneous provisions relative to capital and accounts
- §6:743. Issuance of capital
- §6:744. Shares, savings, and demand accounts; generally
- §6:745. Cancellation of shares, savings accounts
- §6:746. Issuance of shares or savings accounts for consideration other than cash
- §6:747. Contract for savings programs
- §6:748. Shares or demand deposits and savings accounts as legal investments and as security
- §6:748.1. Public funds deposits; additional collateral
- §6:749. Prescription on savings accounts
- §6:750. Pledge of deposit accounts; rights and remedies
PART VI. MEMBERS, DEPOSITORS, AND OTHER MATTERS
- §6:761. Members of mutual associations
- §6:762. Access to books and records
- §6:763. Minors
- §6:764. Authority relative to shares and savings accounts
- §6:765. Shares or savings accounts payable to two or more persons; survivorship
- §6:766. Accounts of administrators, executors, tutors, custodians, trustees and other fiduciaries
- §6:766.1. Payable on death accounts
- §6:767. Death of member or depositor and access and transfer of money and property by association to succession representatives, legatees, or heirs; authority
- §6:767.1. Repealed by Acts 1970, No. 234, §2.
- §6:768. Transfer of contents of safety deposit boxes by an association to succession representatives, legatees, heirs, minors, or interdicts; authority
- §6:769. Access to safety deposit boxes held jointly or standing in the name of a corporation, unincorporated association, trust estate, agents, or others
- §6:770. Abandonment of safety deposit box
- §6:771. Disposition of abandoned safety deposit box contents
PART VII. DIRECTORS, OFFICERS, AND EMPLOYEES
- §6:781. Indemnity bonds
- §6:782. Depositories
- §6:783. Indemnification of officers, directors, and employees
- §6:784. Illegal loans
- §6:785. Directors, employees and members not disqualified to make acknowledgments
- §6:786. Relation and liability of directors and officers
- §6:787. Actions against directors and officers
- §6:788. §§788 to 790 Repealed by Acts 1970, No. 234, §2.
PART VIII. CORPORATE ADMINISTRATION--RECORDS,
REPORTS, AND EXAMINATION
- §6:791. Records
- §6:792. Misdescriptions of assets; false entries
- §6:793. Directors' examination of association
- §6:794. Examination
- §6:795. §§795, 796 Repealed by Acts 1970, No. 234, §2.
PART IX. CORPORATE ADMINISTRATIONS--SAVINGS
LIABILITY; RESERVES; ACCOUNTING
- §6:801. Savings liability; demand deposit liability
- §6:802. Contingent loss account
- §6:803. Earnings; payment
- §6:804. Casual deposits
- §6:805. Withdrawal of savings accounts and shares
- §6:806. Board to determine amounts to be withdrawn
- §6:807. Amounts payable
- §6:808. Insufficient funds; notices
- §6:809. Board may prescribe rules
- §6:810. Rights of withdrawing members
- §6:811. New loans and payment of debts during existence of withdrawal list
- §6:812. Commissioner's action may stop withdrawal procedure
- §6:813. Prohibition against institution of action
- §6:814. Redemption
PART X. INVESTMENT OPERATIONS
- §6:822. Loans and investments
- §6:823. Appraisal
- §6:824. Payments
- §6:824.1. Late charges prohibited on certain payments
- §6:825. REPEALED BY ACTS 1993, NO. 280, §1, EFF. OCT. 1, 1993.
- §6:826. Provision for taxes, insurance
- §6:827. REPEALED BY ACTS 1993, NO. 280, §1, EFF. OCT. 1, 1993.
- §6:828. Loan expenses
- §6:829. Repealed by Acts 2003, No. 69, §1, eff. May 28, 2003.
- §6:830. Security for loan on immovable properties; purchase and sale of property
- §6:831. Shares or savings accounts as additional security
- §6:832. Immovables
- §6:833. Conveyance of property securing loan
- §6:833.1. Repealed by Acts 1970, No. 234, §2.
- §6:834. Solicitation or acceptance of gifts for making, or assisting in, procuring a loan
PART XI. OFFICES
PART XII. MERGER, CONSOLIDATION,
DISSOLUTION AND LIQUIDATION
- §6:861. Power to merge or consolidate; consent of commissioner; rules and regulations
- §6:862. Merger; when effective
- §6:863. Consolidation; when effective
- §6:864. Effect of merger or consolidation
- §6:865. Voluntary transfer of assets
- §6:866. Commissioner may provide for members or stockholders to vote on plan
- §6:867. Dissolution or liquidation
- §6:868. Voluntary proceedings for dissolution
- §6:869. Association continues as corporate entity for sole purpose of winding up affairs
- §6:870. Powers of liquidating trustees
- §6:871. Association subject to commissioner during liquidation
- §6:872. Involuntary dissolution; generally
- §6:873. Involuntary dissolution; commissioner shall take possession
- §6:874. Involuntary dissolution; notice to creditors
- §6:875. Involuntary dissolution; powers of commissioner; court approval
- §6:876. Involuntary dissolution; inventory
- §6:877. Involuntary dissolution; fees
- §6:878. Involuntary dissolution; distribution of assets
- §6:879. Involuntary dissolutions; creditors may not dispose of pledged securities
- §6:880. Liquidation by federal corporation
- §6:881. Commissioner may examine association
- §6:882. Commissioner may order association to discontinue any illegal practice
- §6:883. Conservator
- §6:884. §§884 to 890 Repealed by Acts 1970, No. 234, §2.
PART XIII. FOREIGN ASSOCIATIONS
- §6:891. Foreign association defined
- §6:892. Conduct of business in accordance with this Part; certificate of authority and public necessity
- §6:893. Certificate of authority; exceptions
- §6:894. Certificate of authority; examination of qualifications
- §6:895. Penalty for doing business without certificate of authority
- §6:896. Issuance of certificate of authority; renewal annually
- §6:897. Deposits as security; foreign association ceasing to do business in Louisiana
- §6:898. Supervision and examination
PART XIV. FEDERAL ASSOCIATIONS
- §6:901. Powers, privileges, and exemptions of federal associations
- §6:902. Companion authority
- §6:903. Additional companion authority
- §6:904. Conversion into state-chartered association
- §6:905. Limitation
- §6:906. Conversions; locations
- §6:907. Formation of savings and loan holding companies
- §6:908. Oppressed shareholder's remedies
PART XV. FEES
- §6:911. REPEALED BY ACTS 1993, NO. 278, §1, EFF. JAN. 1, 1994.
- §6:912. Additional foreign association fees
PART XVI. MISCELLANEOUS PROVISIONS
- §6:921. Thrift and home financing organizations; exceptions
- §6:922. Powers of attorney
- §6:923. Exemption from security laws
- §6:924. Holder of note may enforce
- §6:925. Unlawful to destroy property
- §6:926. Foreclosure of mortgage
- §6:927. Communication from commissioner having effect of approval or order to be in writing and signed
- §6:928. Right of commissioner to utilize courts
- §6:929. Rights of association to contest decisions of commissioner
- §6:930. Defamation of institutions prohibited; fine
- §6:931. False statements and similar actions prohibited; fine
- §6:932. Act of controlling
- §6:933. Application to existing associations
PART XVII. MISCELLANEOUS PROVISIONS RELATIVE
TO CAPITAL STOCK ASSOCIATIONS
- §6:937. Dividends; requirements
- §6:938. Power of state or federal mutual association to convert to capital stock association; procedures; approval of department required; minutes of meeting; succession
- §6:939. Plan of conversion from mutual to capital stock association; mandatory and permissive requirements
- §6:940. Acquisition of control over an existing association
- §6:941. Restrictions on acquisition of control of capital stock associations
- §6:942. Listing and assessment of capital stock; procedure; exemption
- §6:943. Listing and assessing of stock; place
- §6:944. Listing and assessing of stock; branch capital stock associations
- §6:945. Listing and assessing of real estate of capital stock associations
- §6:946. Listing and assessing of stock and real estate; payment of tax; recovery from stockholders
- §6:947. Listing and assessing of stock; report by official
PART XVIII. IMPLEMENTATION AND AUGMENTATION
POWERS OF COMMISSIONER
CHAPTER 9-A. PUBLIC FUNDS IN CAPITAL STOCK
SAVINGS AND LOAN ASSOCIATIONS AND
CAPITAL STOCK SAVINGS BANKS
CHAPTER 9-B. INTERSTATE ACQUISITIONS AND
MERGERS OF ASSOCIATIONS
- §6:950.1. Declaration of policy
- §6:950.2. Definitions
- §6:950.3. Scope of Part; effective dates
- §6:950.4. Applicability of commissioner's rules and regulations; operation of Louisiana association subsidiaries by foreign corporations; reciprocal agreements; penalties
- §6:950.5. Interstate acquisitions; filings with commissioner
- §6:950.6. Prohibited acquisitions and activities
- §6:950.7. Minority stockholders' rights
- §6:950.8. Savings clause
CHAPTER 10. THE MOTOR VEHICLE SALES FINANCE ACT
- §6:951. Repealed by Acts 1999, No. 794, §2, eff. July 2, 1999.
- §6:952. Repealed by Acts 1999, No. 794, §2, eff. July 2, 1999.
- §6:953. Repealed by Acts 1999, No. 794, §2, eff. July 2, 1999.
- §6:954. Repealed by Acts 1999, No. 794, §2, eff. July 2, 1999.
- §6:955. Repealed by Acts 1999, No. 794, §2, eff. July 2, 1999.
- §6:956. Repealed by Acts 1999, No. 794, §2, eff. July 2, 1999.
- §6:956.1. Repealed by Acts 1999, No. 794, §2, eff. July 2, 1999.
- §6:956.2. Repealed by Acts 1999, No. 794, §2, eff. July 2, 1999.
- §6:957. Repealed by Acts 1999, No. 794, §2, eff. July 2, 1999.
- §6:958. Repealed by Acts 1999, No. 794, §2, eff. July 2, 1999.
- §6:959. Repealed by Acts 1999, No. 794, §2, eff. July 2, 1999.
- §6:960. Repealed by Acts 1999, No. 794, §2, eff. July 2, 1999.
- §6:961. Repealed by Acts 1999, No. 794, §2, eff. July 2, 1999.
- §6:962. Repealed by Acts 1999, No. 794, §2, eff. July 2, 1999.
- §6:963. Repealed by Acts 1999, No. 794, §2, eff. July 2, 1999.
- §6:964. Repealed by Acts 1999, No. 794, §2, eff. July 2, 1999.
CHAPTER 10-A. ADDITIONAL DEFAULT REMEDIES
- §6:965. Scope and definitions
- §6:966. Procedure
- §6:966.1. Notice of repossession; contents; fees
- §6:967. Appeal from order
- §6:968. §§968, 969 Repealed by Acts 1974, No. 466, §3.
CHAPTER 10-B. LOUISIANA MOTOR VEHICLE SALES
FINANCE ACT
PART I. GENERAL PROVISIONS AND DEFINITIONS
- §6:969.1. Short title
- §6:969.2. Scope
- §6:969.3. Exclusions
- §6:969.4. Waiver, agreement to forego rights
- §6:969.5. Repealed by Acts 2001, No. 1066, §1.
- §6:969.6. Definitions
- §6:969.7. Terms; construction; additional fees and charges
- §6:969.8. Construction against implicit repeal
PART II. MAXIMUM CHARGES
- §6:969.9. Consumer loans
- §6:969.10. Consumer credit sale
- §6:969.11. Maximum charges after negotiations
- §6:969.12. Maximum charges after maturity
- §6:969.13. Leap years
- §6:969.14. Variable rates
- §6:969.15. Maximum delinquency charges
- §6:969.16. Maximum deferral charges
- §6:969.17. Charges for checks returned for insufficient funds
- §6:969.18. Documentation and compliance fees; notary fees; transfer of equity and other fees; disclosure
PART III. PREPAYMENT OF MOTOR VEHICLE CREDIT
TRANSACTIONS
- §6:969.19. Right to prepay
- §6:969.20. Rebates upon prepayment; prepayment charges; return of lien documents upon payment in full of the balance due
- §6:969.21. Rebate after acceleration of maturity
PART IV. LIMITATIONS ON AGREEMENTS
AND PRACTICES
- §6:969.22. Attorney fees
- §6:969.23. Collection and enforcement costs and expenses
- §6:969.24. Use of multiple agreements
- §6:969.24.1. Acts to lessen or eliminate competition prohibited
- §6:969.24.2. Mandatory sales prohibited
PART V. INSURANCE
- §6:969.25. Consumer credit insurance
- §6:969.26. Property insurance
- §6:969.27. Existing insurance
- §6:969.28. Limitations on insurance rates; contract requirements
- §6:969.29. Choice of insurer
- §6:969.30. Conditions applying to insurance provided by the extender of credit
- §6:969.31. Cancellation of insurance; refund or credit upon cancellation
- §6:969.32. Gain from insurance
PART VI. VIOLATIONS
- §6:969.33. Effect of violations on rights of parties
- §6:969.34. Guidance by commission; advisory opinions
PART VII. LICENSING PROVISIONS
- §6:969.35. Authority to make consumer loans; assignees; authority to issue debt waiver or debt forgiveness agreements
- §6:969.36. License not required
- §6:969.37. Licensing procedures
- §6:969.38. Denial, suspension, or revocation of licenses
- §6:969.39. Investigations and complaints
- §6:969.40. Powers of commission
- §6:969.41. Fines imposed by the commission
- §6:969.42. Venue for litigation or arbitration; choice of law
PART VIII. GAP COVERAGE
- §6:969.51. GAP coverage; requirements
- §6:969.52. Liability; contractual or insurance policies
- §6:969.53. Cancellation
- §6:969.54. Disclosures
CHAPTER 11. EXTRAORDINARY ACQUISITIONS OF
FINANCIAL INSTITUTIONS
- §6:970. Purchase, merger, or consolidation of impaired financial institutions
- §6:971. Approval of transaction; priorities
- §6:972. Retention of branches
- §6:973. Prohibited insurance activities
- §6:974. Acquisition of state bank in impaired condition
- §6:975. §§975, 976 Repealed by Acts 1972, No. 454, §3, eff. Jan. 1, 1973.
CHAPTER 12. CURRENCY EXCHANGE SERVICES
- §6:1001. Title
- §6:1002. Definitions
- §6:1003. License; certificates
- §6:1004. Application for license and change of control
- §6:1004.1. License fees; online renewal
- §6:1004.2. Enforcement powers of the commissioner
- §6:1005. Qualifications
- §6:1006. Approval or denial of application
- §6:1007. Change of name or location
- §6:1008. Suspension or revocation of license; hearing; surrender of license; administrative fines
- §6:1009. Regulation of fees; unreasonable fees; display of fees
- §6:1010. Repealed by Acts 2004, No. 370, §1.
- §6:1011. Powers; limitations; prohibitions
- §6:1012. Violations; criminal penalties; civil liability
- §6:1013. Books of account; examinations
- §6:1013.1. Cashing federal and state treasury checks; records retention
- §6:1014. Rules and regulations
- §6:1015. False advertising
- §6:1016. Applicability
CHAPTER 13. SALE OF CHECKS AND MONEY TRANSMISSION
- §6:1031. Citation
- §6:1032. Definitions
- §6:1033. License required
- §6:1034. Exemption from licensing
- §6:1035. Qualifications
- §6:1036. Applications
- §6:1037. Accompanying fee; statement and bonds
- §6:1038. Investigation; granting of license
- §6:1038.1. Temporary license; expiration; extension
- §6:1039. Maintenance of bond
- §6:1040. Annual renewal fee; delinquency charge
- §6:1041. Agents and subagents
- §6:1042. Liability of licensees
- §6:1043. Disclosure of responsibility
- §6:1044. Visitation and examination; revocation of license
- §6:1045. Hearings
- §6:1046. Penalties
- §6:1047. Reports
- §6:1048. Trust imposed on sales or transmission proceeds
- §6:1049. List of financial institutions
- §6:1050. Retention of surety bond
- §6:1051. Notification of financial institutions; violations; penalties
- §6:1052. Account; verification of license; cancellation; overdrafts
- §6:1053. Significant developments; licensee's duty to report to commissioner
- §6:1054. Change of control; notice; application; advisory opinion
- §6:1055. Money transmitters; delivery of funds requirements; exceptions
CHAPTER 14. RESIDENTIAL MORTGAGE
BROKERS AND LENDERS
PART I. GENERAL PROVISIONS
- §6:1081. Short title
- §6:1082. Purpose
- §6:1083. Definitions
- §6:1084. Prohibition
- §6:1085. Rules and regulations
- §6:1085.1. Authority of the commissioner to impose continuing education
PART II. LICENSURE, REGISTRATION,
AND CERTIFICATION
- §6:1086. Licensure requirement
- §6:1087. Exemptions; annual registration statement; fees
- §6:1088. Application for licensure; surety bond
- §6:1088.1. Licensing system; authorization; fees; required use
- §6:1088.2. Application for licensure; application and renewal fees
- §6:1088.3. Application for renewal of license; restriction; late renewal fees
- §6:1088.4. Information reporting
- §6:1089. Name or location changes and closures; fees
- §6:1090. Restrictions
- §6:1091. Recordkeeping and retention; examinations; investigation of complaints; reports of conditions
- §6:1092. Suspension and revocation of licensure; commissioner's interpretations; prohibitions
- §6:1092.1. Costs of appeal
- §6:1092.2. Validity of judgment; execution
- §6:1093. Repealed by Acts 2010, No. 743, §22B, eff. July 1, 2010.
- §6:1094. Professional education required for licensure; continuing education
- §6:1094.1. Testing of loan originators
PART III. RESIDENTIAL MORTGAGE LOANS
- §6:1095. Scope
- §6:1096. Residential mortgage loans
- §6:1097. Residential mortgage loan fees and charges; applicability of the Louisiana Consumer Credit Law
- §6:1098. Residential mortgage loan brokerage contracts
- §6:1099. Criminal penalties
PART IV. REVERSE MORTGAGE LOANS
- §6:1101. Reverse mortgages; requirements
- §6:1102. Counseling
- §6:1103. Commitment and cooling off period
- §6:1104. Reverse mortgage lender; duties to elders
CHAPTER 15. APPROVAL OF RULES AND REGULATIONS
CHAPTER 16. CREDIT AGREEMENTS -- WRITING
REQUIREMENTS
- §6:1121. Definitions
- §6:1122. Credit agreements to be in writing
- §6:1122.1. Defenses to written credit agreements
- §6:1123. Actions not considered agreements
- §6:1124. No implied fiduciary obligations
- §6:1125. §§1125 to 1127 Repealed by Acts 1981, No. 873, §4, eff. Oct. 1, 1981.
CHAPTER 17. LOUISIANA SAVINGS BANKS
PART I. GENERAL PROVISIONS
- §6:1131. Title
- §6:1132. Policy and purposes
- §6:1133. Administration
- §6:1134. Applicability
- §6:1135. Federal deposit insurance
- §6:1136. Powers; parity with other financial institutions
- §6:1137. Definitions
- §6:1138. General corporate powers
- §6:1139. Specific powers
- §6:1140. Status as an IRS qualified savings banks institution
- §6:1141. Regulatory powers; promulgation of rules and regulations
- §6:1142. Safety deposit boxes and safekeeping
PART II. HOLDING COMPANIES
PART III. INCORPORATION AND ORGANIZATION
- §6:1161. Application for permit to organize
- §6:1162. Content of application for permit to organize
- §6:1163. Contents of articles of incorporation
- §6:1164. Contents of bylaws
- §6:1165. Permit to organize
- §6:1166. Temporary organization and capital subscriptions
- §6:1167. Certificate of organization; issuance; refusal
- §6:1168. REPEALED BY ACTS 1993, NO. 278, §1, EFF. JAN. 1, 1994.
PART IV. MEMBERSHIP
- §6:1181. Members
- §6:1182. Annual and special meetings
- §6:1183. Notice of meetings
- §6:1184. Quorum of annual or special meetings
- §6:1185. Voting
- §6:1186. Record date for voting, dividend, and other purposes
- §6:1187. Proxies
- §6:1188. Directors
- §6:1189. Bonds of officers and directors
- §6:1190. Conduct of directors and officers
- §6:1191. Relation and liability of directors and officers
PART V. CAPITAL
- §6:1201. Minimum capital for incorporation or conversion
- §6:1202. Types of capital; personal property
- §6:1203. Capital stock; nature
- §6:1204. Capital stock; authorization of issuance
- §6:1205. Who may hold capital
- §6:1206. Capital maintenance
- §6:1207. Dividends; capital surplus required
- §6:1208. Loans or discounts on capital stock
- §6:1208.1. Applicability of statute, rules and regulations
PART VI. INVESTMENTS
- §6:1221. Underwriting
- §6:1222. Investment in loans
- §6:1223. Other investments
- §6:1224. Calculation of interest; postpayments and prepayments
- §6:1225. General loan contract provisions
- §6:1226. Modification agreements
- §6:1227. Sale, assignment, and servicing of loans and contracts
- §6:1228. Purchase of real estate at judicial sale
- §6:1229. Immovable property; dealings
- §6:1229.1. Applicability of rules and regulations
- §6:1230. Purchases of real estate for office and rental purposes
- §6:1231. Usury law inapplicable
- §6:1232. Prohibited loans
- §6:1233. Effect of unauthorized investments
- §6:1234. Acknowledgments
- §6:1235. Loans to one borrower
- §6:1236. Commissioner's regulations
- §6:1237. Change in control
PART VII. WITHDRAWABLE ACCOUNTS
- §6:1251. Withdrawable accounts; general definitions
- §6:1252. Prohibited activities
- §6:1253. Withdrawable accounts
- §6:1254. Issuance, delivery, and transfer of certificates and account books
- §6:1255. Joint account; trust account; payment on death account
- §6:1256. Effect of payment to minor or fiduciary
- §6:1257. Payment on legal disability or death of holder in holder's own right of a withdrawable account
- §6:1258. Voluntary withdrawal of accounts
- §6:1259. Enforced retirement of withdrawable accounts
- §6:1260. Authorized charges
- §6:1261. Withdrawable accounts subject to liens
- §6:1262. Demand deposits; checking account
- §6:1263. Payment of interest
- §6:1264. Holders of withdrawable accounts
PART VIII. VOLUNTARY CORPORATE CHANGES
- §6:1271. Amendment of articles
- §6:1272. Repealed by Acts 2003, No. 577, §2, eff. June 27, 2003.
- §6:1273. Repealed by Acts 2003, No. 577, §2, eff. June 27, 2003.
- §6:1274. Repealed by Acts 2003, No. 577, §2, eff. June 27, 2003.
- §6:1275. Effect upon existing articles and bylaws
- §6:1276. Merger; adoption of plan
- §6:1277. Merger; vote of approval
- §6:1278. Merger; commissioner's certificate
- §6:1279. Effect of merger
- §6:1280. Merger; commissioner's expenses
- §6:1281. Sale of assets
- §6:1282. Procedure to effect sale of all assets
- §6:1283. Authority to form a bridge charter
- §6:1284. Conversion of an existing financial institution to a savings bank
- §6:1285. Emergency merger
- §6:1286. Emergency sale of assets
PART IX. AUTHORITY OF COMMISSIONER
- §6:1301. Powers of commissioner
- §6:1302. Examination
- §6:1303. Examiners
- §6:1304. Report of examination
- §6:1305. Failure to comply with commissioner's report of examination; publication of reports
- §6:1306. Orders of the commissioner
- §6:1307. Recordkeeping and retention of records by a savings bank
- §6:1308. Disclosure of examination reports and other reports
- §6:1309. Examination of data processing centers
- §6:1310. Annual directors' examinations
- §6:1311. Unsafe and unsound; orders of prohibition and removal
- §6:1312. Cease and desist proceedings
- §6:1313. Procedure upon the impairment of capital
- §6:1314. Administrative review
PART X. CONSERVATORSHIPS, RECEIVERSHIPS, AND
INVOLUNTARY LIQUIDATIONS
PART XI. ENFORCEMENT POWERS
- §6:1331. Affirmative action to correct conditions resulting from violations of law, regulations, orders, or from practices
- §6:1332. Cease and desist; books and records
- §6:1333. Removal and prohibition authority
- §6:1334. Industry-wide prohibition
- §6:1335. Institution-affiliated party
- §6:1336. Civil money penalties
- §6:1337. Effect of termination or resignation of an institution-affiliated party
- §6:1338. Unauthorized participation by convicted individual
- §6:1339. Perjury; false statements
- §6:1340. False advertising
- §6:1341. Prohibitive practices; additional
CHAPTER 18. PROFESSIONAL SERVICES TO FEDERALLY
INSURED FINANCIAL INSTITUTIONS
- §6:1351. Professional responsibility
- §6:1352. Professional liability
- §6:1353. Officers and directors
- §6:1354. Imposition of greater standards; liability
CHAPTER 19.
AUTOMATED TELLER MACHINES/NIGHT
DEPOSITORY CUSTOMER SAFETY ACT
- §6:1361. Short title
- §6:1362. Intent; scope; effect
- §6:1363. Definitions
- §6:1364. Compliance required
- §6:1365. Lighting standards
- §6:1366. Landscape and vegetation standards
- §6:1367. Notice of customer safety information
CHAPTER 20. PROTECTION OF ELIGIBLE ADULTS FROM
FINANCIAL EXPLOITATION
- §6:1371. Legislative intent
- §6:1372. Definitions
- §6:1373. Notices
- §6:1374. Delaying financial transactions
- §6:1375. Applicability of other laws
- §6:1376. Immunity
CHAPTER 21. VIRTUAL CURRENCY BUSINESSES
- §6:1381. Short title
- §6:1382. Definitions
- §6:1383. Applicability
- §6:1384. Licensure; general
- §6:1385. Requirements
- §6:1386. Required documents; securities
- §6:1387. Issuance of license; appeal
- §6:1388. Renewal of license; procedure; denial
- §6:1389. Exceptions to licensure requirement; conditions
- §6:1390. Transferability
- §6:1391. Examinations
- §6:1392. Enforcement
- §6:1393. Violations
- §6:1394. Implementation
CHAPTER 22. VIRTUAL CURRENCY CUSTODY SERVICES
CHAPTER 23. STUDENT LOAN SERVICERS
- §6:1411. Definitions
- §6:1412. Duties of student loan servicers
- §6:1413. Written inquiries and complaints
CHAPTER 24. PRIVATE STUDENT LOAN REGISTRY