reglab/housing_qa huggingface dataset:
LA Rev Stat § 6:545 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§545. Powers and functions

RS 545 - Powers and functions A. Financial service center banks shall have all of the powers and functions authorized in Part IV of Subchapter A of Chapter 3 of this Title, except that a financial service center bank or any subsidiary thereof may not: (1) Make or purchase a loan or other extension of credit to a Louisiana borrower. (2) Accept deposits from a Louisiana customer. (3) Be the lessor of movable property to be initially located in this state. (4) Perform trust services for a Louisiana customer. (5) Perform discount brokerage services for a Louisiana customer. (6) Advertise for loans, deposits, leases of movable property, trust or discount brokerage services, where such advertisements are primarily directed to Louisiana customers. (7) Advertise in any manner, directly or indirectly, as being engaged in the business of banking in this state, unless such advertisements are primarily directed towards non-Louisiana residents or companies. (8) Maintain teller windows or drive-up facilities at any location within this state. (9) Own or operate electronic funds terminals at any location within this state. B. Notwithstanding the provisions of R.S. 6:545(A)(1), a financial service center bank may purchase a participation interest in a loan or other extension of credit to a Louisiana borrower where such a participation interest is purchased from a bank or other lender domiciled outside of Louisiana or from a non-affiliated bank or savings and loan association with its principal offices in this state. C. A financial service center bank may make a loan or other extension of credit to a non-Louisiana borrower that is secured by immovable or movable property located in Louisiana. D. A financial service center bank may enter into agreements for sharing electronic funds terminals with financial institutions domiciled in this state, subject to the restrictions contained in R.S. 6:545(A)(9). Acts 1987, No. 808, §1.
LA Rev Stat § 6:546 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§546. Additional powers; rate export

RS 546 - Additional powers; rate export A. Financial service center banks shall have the following additional powers: (1) To engage in permissible activities authorized under this Part in other states, including but not limited to the making of loans to non-Louisiana borrowers, without such activities being considered or criticized as being extra-territorial. (2) To establish loan production offices at locations outside of Louisiana. All loans arranged by such loan production offices shall be approved in advance by the financial service center bank at its main office in Louisiana. While such loans may be closed in other states, the loan proceeds must be disbursed from Louisiana. (3) To lease movable property to be initially located outside of Louisiana without limitation or restrictions. Financial service center banks may establish wholly-owned leasing subsidiaries for such purposes, which may have offices outside of Louisiana. Loans by financial service center banks to their wholly-owned leasing subsidiaries shall be exempt from the lending limit restrictions of R.S. 6:415. (4) To provide discount brokerage services to non-Louisiana customers without limitation or restrictions and to establish wholly-owned discount brokerage subsidiaries for such purposes, which may have offices outside of Louisiana. (5) To perform such additional activities as may be approved by regulations of the commissioner. B.(1) Notwithstanding any other law to the contrary, there shall be no limitation on the amount or rates of interest that may be assessed by a financial service center bank in connection with any loan or other extension of credit. (2) There shall be no limitation on the amount of additional fees and charges that may be assessed by a financial service center bank in connection with any loan or other extension of credit. Such additional fees and charges shall be deemed to be material to the determination of the interest rate for purposes of this Subsection and for purposes of the most favored lender doctrine of federal law. (3) Financial service banks entering into loans and other extensions of credit may provide in their promissory notes or credit agreements that such transactions will be subject to the substantive laws of this state. Acts 1987, No. 808, §1.
LA Rev Stat § 6:547 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§547. Additional requirements

RS 547 - Additional requirements A. Except as provided in R.S. 6:547(B), a financial service center bank shall have: (1) A minimum of twenty-five full-time employees in Louisiana of whom twenty shall be residents of Louisiana within twelve weeks from the time of commencement of business and continuously thereafter throughout its first year of operation. (2) A minimum of fifty full-time employees in Louisiana of whom forty shall be residents of Louisiana by the end of the first full year of operation and continuously for one year thereafter. (3) A minimum of seventy-five full-time employees in Louisiana of whom sixty shall be residents of Louisiana by the end of the second full year of operation and continuously for one year thereafter. (4) A minimum of one hundred full-time employees in Louisiana of whom seventy-five shall be residents of Louisiana by the end of the third full year of operation and at all times thereafter. B. All data processing activities of financial service center banks shall be performed in Louisiana by the financial service center bank, its Louisiana subsidiary, or by a bank holding company domiciled in Louisiana or by a subsidiary thereof. If the financial service center bank's data processing activities are performed by a bank holding company domiciled in Louisiana or a subsidiary thereof, such activity shall not be considered to constitute branch banking prohibited by R.S. 6:501, et seq. For financial service center banks whose data processing activities are performed by a Louisiana bank holding company or a subsidiary thereof, the employee requirements established in R.S. 6:547(A) shall be reduced to (1) twelve, (2) twenty-five, (3) thirty-seven, and (4) fifty full-time employees, respectively. C. All credit related decisions by a financial service center bank shall be made in Louisiana. D. All books and records and all loan documentation of a financial service center bank shall be maintained at its principal office in Louisiana and shall be available for inspection and examination by the office of financial institutions. E. Financial service center banks shall be subject to taxation by the state in the same manner as state banks. F. Unless otherwise provided in this Part or in regulations issued by the commissioner, financial service center banks shall be subject to all applicable laws of the state of Louisiana. Acts 1987, No. 808, §1.
LA Rev Stat § 6:551.2 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.2. Foreign banking activities; authorized

RS 551.2 - Foreign banking activities; authorized A foreign bank may open and operate a representative office, administrative office, agency, branch, subsidiary bank, or an Edge Act or agreement corporation or operate as an international banking facility in this state subject to the provisions of this Chapter and applicable federal law. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.3 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.3. Subsidiary bank; authorization

RS 551.3 - Subsidiary bank; authorization A. A foreign bank may establish a subsidiary bank in this state subject to the provisions of this Chapter and applicable federal law. B. A foreign bank may acquire a subsidiary bank in this state in accordance with the federal Bank Holding Company Act and other applicable federal and state law. C.(1) A foreign bank may operate a subsidiary bank in this state by organizing a new bank in this state either under a charter issued by the office of the comptroller of the currency under the National Bank Act or a state charter issued by the commissioner of financial institutions. (2) An application for a state-chartered subsidiary bank shall be submitted to the commissioner of financial institutions and shall comply with all applicable provisions of state law. D. All deposits in the subsidiary bank shall be insured by the Federal Deposit Insurance Corporation. E. A subsidiary bank of a foreign bank shall have the same banking powers, subject to the same restrictions, limitations, reporting, and other requirements as domestic banks and may engage in the same banking activities as other domestic banks. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.4 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.4. Edge Act or agreement corporation; authorization

RS 551.4 - Edge Act or agreement corporation; authorization A. Any United States bank or foreign bank may organize or acquire a subsidiary to engage in international banking activities specifically authorized in the Edge Act. This subsidiary may be an Edge Act corporation chartered pursuant to federal law or an agreement corporation chartered under state law. B. An agreement corporation is a corporation chartered under the provisions of this Chapter subject to the approval by the commissioner of financial institutions in which the corporation agreed with the board of governors of the federal reserve system to limit its activities to those permitted to an Edge Act corporation. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.5 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.5. Location; limitation

RS 551.5 - Location; limitation A foreign bank may, upon compliance with this Part, establish and operate a state agency, branch, bank, or office in any parish of this state. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.6 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.6. Filing requirements

RS 551.6 - Filing requirements Before transacting business in this state through a state agency, branch, or office a foreign bank shall file with the commissioner: (1) A duly authenticated copy of its articles of incorporation and bylaws or other constitutive documents, and if a copy is in a language other than English, a translation of the document, under the oath of the translator, must be attached. (2) A duly executed instrument, by its terms of indefinite duration and irrevocable, appointing the commissioner as its agent for service of process on whom a notice or process issued by a court in this state may be served in an action or proceeding relating to the business of the foreign bank in this state. (3) A written certificate of designation, which may be changed from time to time by the filing of a new certificate of designation, specifying the name and address of the officer, agent, or other person to whom such notice or process shall be forwarded by the commissioner. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.7 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.7. Requirements to operate; fees

RS 551.7 - Requirements to operate; fees A foreign bank may not maintain and operate a state agency, branch, or office in this state unless the foreign bank: (1) Is authorized by its charter to carry on such a business and the foreign bank has complied with the laws of the country under which it is chartered. (2) Has furnished to the commissioner proof of the nature and character of its business and of its financial condition that the commissioner requires. (3) Has filed with the commissioner a certified copy of the information required by R.S. 6:551.6. (4) Has paid an application fee to be determined by the commissioner as reasonable, fair, and sufficient for the management and oversight required by this Chapter. (5) Has been issued a certificate of authority by the commissioner. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.8 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.8. Application required; contents

RS 551.8 - Application required; contents A. To obtain a certificate of authority for, or authority to operate, a state agency, branch, or office, a foreign bank must submit to the commissioner an application which shall set forth: (1) The name of the foreign bank, together with the country under the laws of which it was organized. (2) The date of its incorporation and the period of its duration. (3) The address of its principal office in the country under the laws of which it was organized. (4) The name of other states and countries in which it is admitted or qualified to transact business. (5) The names and addresses of its directors and principal officers. (6) A complete and detailed statement of its financial condition including the actual value of its assets. (7) A copy of any applications it is required to file with any federal agencies to establish the agency, branch, or office. (8) Such additional information as may be necessary and appropriate or as may be required by the commissioner. B. The approval of the Office of Financial Institutions shall be required to establish any subsequent state branches, agency offices, or other offices. The Office of Financial Institutions shall be authorized to promulgate any necessary rules and fees in order to provide for these additional locations. C. Any applications or notifications filed under this Section shall also be filed with the Louisiana Tax Commission. D. All applications, notifications, and correspondence filed with the Office of Financial Institutions shall be in English. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.9 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.9. Approval or disapproval of application

RS 551.9 - Approval or disapproval of application A. The commissioner may approve or disapprove an application but may not approve an application unless the requirements of this Part relating to the foreign banks are met. B. The commissioner may disapprove an application if he determines that: (1) The foreign bank is organized in a country that does not permit banks organized under the laws of this state to undertake activities similar to those described in this Part; or (2) Granting an application of a foreign bank would be detrimental to the public interest. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.10 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.10. Certificate of authority; transfer prohibited; display required

RS 551.10 - Certificate of authority; transfer prohibited; display required A foreign bank may engage in the business authorized by the provisions of this Part for not more than one year after the date of the certificate of authority or until the certificate of authority is suspended or revoked. No such certificate of authority shall be transferable or assignable. Every such certificate of authority shall be, at all times, conspicuously displayed in the place of business specified in the certificate of authority. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.11 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.11. Renewal

RS 551.11 - Renewal A certificate of authority may be renewed annually within thirty days before the expiration of such certificate of authority upon application to the commissioner. Such certificate of authority may be renewed upon a determination that the foreign bank is in a safe and satisfactory condition, that it has complied with the requirements of law with respect to the branch, agency, or office, that such renewal is duly authorized by proper corporate action, and that a renewal fee of one thousand dollars has been paid. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.12 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.12. Revocation and surrender

RS 551.12 - Revocation and surrender A. A certificate of authority may be revoked by the commissioner at any time upon a determination that the foreign bank has not met the criteria established by R.S. 6:551.11 for the renewal of a certificate of authority. B. In the event that a certificate of authority is revoked or a renewal refused by the commissioner, all rights and privileges of the foreign bank to transact the business thus granted through the certificate of authority shall cease, and such certificate of authority shall be surrendered to the commissioner within twenty-four hours after the licensee has received written notice of such decision. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.13 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.13. State agency; authorized actions

RS 551.13 - State agency; authorized actions A foreign bank granted a certificate of authority to transact business in this state through a state agency may: (1) Borrow and lend money with or without real or personal security. (2) Purchase, sell, and make loans whether or not secured by bonds or mortgages on immovable property. (3) Engage in foreign exchange transactions. (4) Issue, advise, confirm, and otherwise deal with letters of credit and pay, accept, or negotiate drafts drawn thereunder. (5) Accept bills of exchange or drafts. (6) Buy or acquire and sell or dispose of but not discount bills of exchange, drafts, notes, acceptances, and other obligations for the payment of money. (7) Maintain credit balances. (8) Receive money for transmission and transmit the money from its authorized office in this state to any other place. (9) Perform such other activities as the commissioner may from time to time determine are analogous or incidental to the foregoing; provided that the foreign bank corporation may not exercise fiduciary powers or receive deposits in this state and may not otherwise exercise banking or discounting privileges in this state. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.14 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.14. State representative office; authorization; permitted activities

RS 551.14 - State representative office; authorization; permitted activities A. With the authorization of the commissioner of financial institutions, a foreign bank may, subject to approval from the Federal Reserve Board, establish a representative office in this state subject to the provisions of this Chapter and applicable federal law. B. A representative office may engage in the following activities in this state: (1) Promote and assist the deposit-taking, lending, or other financial or banking activities of a foreign bank. (2) Serve as liaison in this state between a foreign bank and its existing or potential customers. (3) Solicit business for the foreign bank and its subsidiaries and affiliates. (4) Provide information to foreign bank customers concerning their accounts, answer questions, and receive applications for extensions of credit and other banking services, and transmit documents on behalf of customers. (5) Make arrangements for customers to transact business on their accounts. C. A representative office may not receive deposits, pay checks or other instruments, or make loans. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.15 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.15. State administrative office; authorization; permitted activities

RS 551.15 - State administrative office; authorization; permitted activities A. With the authorization of the commissioner of financial institutions, a foreign bank may, subject to approval from the Federal Reserve Board, establish a state administrative office in this state subject to the provisions of this Chapter and applicable federal law. B. An administrative office may engage only in the following activities: (1) Administration of personnel and operations. (2) Engage in data processing or recordkeeping activities. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.16 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.16. Branch banks and agencies

RS 551.16 - Branch banks and agencies A. A federal agency or branch may engage in activities in this state as authorized under the International Banking Act of 1978, as amended, and any other applicable federal law. B. A foreign bank may establish a state-authorized branch or agency in this state pursuant to a certificate of authority issued by the commissioner. C. A state branch may establish one or more branches in this state to the same extent permitted banks from other states and shall have the same rights and privileges as federally licensed foreign branch banks. A federal branch shall maintain accounts and records separate from those of its parent foreign bank of which it is a branch. D. A branch of a foreign bank operating in this state may not accept public deposits. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.17 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.17. State international banking facilities

RS 551.17 - State international banking facilities A. Any branch or agency of a foreign bank, domestic bank, and any Edge Act or agreement corporation may establish and maintain a state international banking facility, subject to the authorization of the commissioner of financial institutions. B. A state international banking facility is a separate set of accounts segregated on the books and records of such financial entity which includes only international time deposits and international loans, as well as income and expense accounts relating to its international loans and accounts. C. An entity establishing a state international banking facility may accept deposits only in such facility from foreign residents, other international banking facilities, and other offices of the institution which created the state international banking facility. Deposits and extensions of credit shall be used only to support customer operations outside the United States. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.18 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.18. Purchase of real estate

RS 551.18 - Purchase of real estate A foreign bank's authority to purchase and own real estate and loan money in this state is subject to the limitations imposed on state banks. Acts 2004, No. 420, §1.
LA Rev Stat § 6:551.19 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§551.19. Paid-in capital; surplus; undivided profits

RS 551.19 - Paid-in capital; surplus; undivided profits Before opening a branch, agency, or office in this state and annually thereafter so long as a branch, agency, or office is maintained in this state, a foreign bank granted a certificate of authority pursuant to this Part shall certify to the commissioner the amount of its paid-in capital, its surplus, and its undivided profits, each expressed in the currency of the country of its incorporations; the dollar equivalent of which amount, as determined by the commissioner, shall be deemed to be the amount of its capital, surplus, and undivided profits. Acts 2004, No. 420, §1.