reglab/housing_qa huggingface dataset:
LA Rev Stat § 6:517 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§517. Minority stockholders' rights

RS 517 - Minority stockholders' rights A. Subject to the provisions of Subsection B of this Section, it shall be unlawful for a bank holding company to purchase for cash or any other form of consideration any voting security or percentage of equity ownership of any bank or bank holding company if, after consummation thereof, such bank holding company would, directly or indirectly, be the beneficial owner of more than ten percent of the voting power or equity ownership of such bank or bank holding company, unless such purchase is made pursuant to a tender offer to the holders of all of the voting securities or all of the equity ownership. Any such tender offer shall provide that if more securities or ownership interests are tendered than are proposed to be acquired by the offeror, the securities shall be taken up, as nearly as may be, pro rata according to the number of voting securities or amount of equity ownership tendered by each shareholder or equity owner. B. The provisions of Subsection A of this Section shall not apply to: (1) Purchases by a bank holding company of: (a) Its own shares; or (b) The shares of any bank or bank holding company of which it owns more than fifty percent of the total voting power. (2) Purchases which, when cumulated with all other acquisitions of voting securities or equity ownership during the preceding twelve months by such bank holding company, whether by purchase or otherwise, do not exceed two percent of the voting power or equity ownership. (3) Open market purchases on an exchange or in the over-the-counter market effected through a broker in which neither the purchaser nor the broker, or any person acting on their behalf, solicits the seller. (4) Purchases by any company which is not a bank holding company immediately prior to the purchase, including purchases in connection with the formation of a one-bank holding company. (5) Transactions effected other than by way of a purchase of shares or equity ownership from the owner thereof. Acts 1984, No. 50, §2, eff. Jan. 1, 1985; Acts 1984, No. 719, §3, eff. Jan. 1, 1985; Acts 1985, No. 127, §1, eff. June 29, 1985.
LA Rev Stat § 6:521 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§521. Prohibitions

RS 521 - Prohibitions A. It shall be unlawful for a bank holding company to acquire direct or indirect ownership or control of any voting shares of any bank in this state if, after such acquisition, such bank holding company will, directly or indirectly, own or control five percent or more of the voting shares of such bank, or for any company to become a bank holding company as a result of the acquisition of control of a bank in this state, unless: (1)(a) The bank being acquired is a bank for purposes of the Federal Bank Holding Company Act of 1956, as amended (12 U.S.C. 1841) and its deposits are insured by the Federal Deposit Insurance Corporation; or (b) The bank being acquired is, for purposes of this Part, a federal savings and loan, a state savings and loan, or a federal savings bank and its deposits are insured by the Federal Deposit Insurance Corporation; and (2) Until July 1, 1989, such bank being acquired has been in existence and continuously operating as a bank for a period of five years or more prior to the date of acquisition. B. Nothing in this Section, however, shall prohibit a bank holding company from acquiring all, or substantially all, of the shares of the bank, or from organizing solely for the purpose of facilitating the acquisition of a bank which has been in existence and continuously operating as a bank for a period of five or more years. C. Nothing in this Part shall be construed to permit a bank holding company or a bank with its principal office outside of Louisiana to establish a branch office or subsidiary within this state. Acts 1985, No. 108, §1, eff. June 29, 1985.
LA Rev Stat § 6:531 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§531. Declaration of policy

RS 531 - Declaration of policy It is declared to be the policy of this state to facilitate the economic development of this state, to promote a more efficient allocation of financial resources, to improve access to credit for Louisiana individuals and businesses, and to reinforce the overall stability and soundness of the Louisiana banking industry by permitting the orderly expansion of competition among banking institutions on a multistate basis. Acts 1986, No. 577, §1, eff. July 2, 1986.
LA Rev Stat § 6:533 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§533. Scope of Part

RS 533 - Scope of Part Subject to the other provisions of this Part: (1) A Louisiana bank or bank holding company may acquire one or more out-of-state banks or branches thereof, or bank holding companies and, subject to the laws of the host state may convert these to branches of the Louisiana bank. For the purposes of this Paragraph, the term "bank" shall have the meaning set forth in R.S. 6:512(C).1 (2) An out-of-state bank or bank holding company may acquire a Louisiana bank holding company, a Louisiana bank, or another out-of-state bank holding company having a Louisiana bank subsidiary. (3) Effective June 1, 1997, an out-of-state bank holding company may convert its Louisiana bank or banks into branches of the out-of-state bank. Acts 1986, No. 577, §1, eff. July 2, 1986; Acts 1989, No. 686, §2, eff. July 7, 1989; Acts 1995, No. 1249, §1. 1As appears in enrolled bill.
LA Rev Stat § 6:534 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§534. Law applicable to interstate bank branches; purpose

RS 534 - Law applicable to interstate bank branches; purpose A. Pursuant to the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 and the enactment of R.S. 6:531 et seq., the state permits and encourages interstate banking mergers to facilitate economic development of this state. In furtherance thereof, it is the purpose of this Section to ensure that Louisiana law applies to all banks conducting business in this state to the extent that such law is not preempted by federal law. B. Pursuant to the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 and R.S. 6:531 et seq., any multistate bank with a branch in the state of Louisiana may provide any banking services, including but not limited to collection, deposit, lock box, fiscal agency, fiduciary, custodial, or investment services, and state law shall not prohibit multistate banks having in-state banking offices paying the bank shares tax from providing such services. These multistate banks may provide such services to any party including, without limitation, the state and any state agency, board or commission, local board, political subdivision, and any other public or private entity, and such entities may procure such services from any such multistate bank, on the same terms as any bank with its main or principal office in Louisiana. Acts 2001, No. 18, §1.
LA Rev Stat § 6:535 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§535. Interstate acquisitions; filings with commissioner

RS 535 - Interstate acquisitions; filings with commissioner  A. An out-of-state bank holding company shall not acquire, directly or indirectly, a Louisiana bank holding company or a Louisiana bank or an out-of-state bank holding company having one or more Louisiana banks as subsidiaries unless it has filed with the commissioner all applications and other information filed with any federal agency in connection with such acquisition and paid a fee as prescribed by regulation of the commissioner.  B. If any out-of-state bank holding company makes an acquisition or engages in an activity or causes any of its subsidiaries to engage in an activity that is prohibited by this Part, the commissioner shall require such out-of-state bank holding company to terminate such activity or divest itself of its direct or indirect ownership or control of any Louisiana banks acquired in violation of this Part. In addition, the commissioner shall have the power to enforce any other prohibitions in this Part by requiring divestitures of nonconforming banks, bank holding companies, or assets, through the imposition of fines and penalties or through the exercise of such other remedies as shall be appropriate, including but not limited to judicial actions.  C. It shall be unlawful for any out-of-state bank holding company to enter this state, either directly or indirectly, by the acquisition of a Louisiana bank that is not an established Louisiana bank or a bank holding company that owns a Louisiana bank, as a subsidiary, that is not an established Louisiana bank.  Acts 1986, No. 577, §1, eff. July 2, 1986; Acts 1995, No. 1249, §1; Acts 1999, No. 122, §1, eff. Sept. 1, 1999; Acts 2021, No. 17, §1.
LA Rev Stat § 6:536 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§536. Interstate bank acquisitions; filings with commissioner

RS 536 - Interstate bank acquisitions; filings with commissioner  A. An out-of-state bank shall not acquire, directly or indirectly, a Louisiana bank holding company or a Louisiana bank or an out-of-state bank holding company having one or more Louisiana banks as subsidiaries or the Louisiana branches of an out-of-state bank unless it has filed with the commissioner all applications and other information filed with any federal agency in connection with such acquisition, and paid a fee as prescribed by regulation of the commissioner.  B. If any out-of-state bank makes an acquisition or engages in an activity or causes any of its subsidiaries to engage in an activity that is prohibited by this Part, the commissioner shall require such out-of-state bank holding company to terminate such activity or divest itself of its direct or indirect ownership or control of any Louisiana banks or branches acquired in violation of this Part. In addition, the commissioner shall have the power to enforce any other prohibitions in this Part by requiring divestiture of nonconforming bank branches, bank holding companies, or assets, through the imposition of fines and penalties or through the exercise of such other remedies as shall be appropriate, including but not limited to judicial actions.  C. It shall be unlawful for any out-of-state bank to enter this state, either directly or indirectly, by the acquisition of a Louisiana bank that is not an established Louisiana bank or a bank holding company which owns, as a subsidiary, a Louisiana bank that is not an established Louisiana bank. However, if an out-of-state bank is operating in this state through branches, then another out-of-state bank company may enter Louisiana by acquisition of those branches.  Acts 1986, No. 577, §1, eff. July 2, 1986; Acts 1989, No. 686, §2, eff. July 7, 1989; Acts 1995, No. 1249, §1; Acts 1999, No. 122, §1, eff. Sept. 1, 1999; Acts 2021, No. 17, §1.
LA Rev Stat § 6:537 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§537. Emergency acquisitions

RS 537 - Emergency acquisitions A. The commissioner may approve any acquisition of a Louisiana bank that will be lawful under the provisions of R.S. 6:535, if all the following exist with respect to the Louisiana bank: (1) It has an adjusted capital to assets ratio of less than four percent, according to the latest examination by the office of financial institutions or the Federal Deposit Insurance Corporation. (2) It is the conclusion of the commissioner that the bank has major and serious problems or unsafe and unsound conditions which are not being satisfactorily addressed or resolved. (3) It is the conclusion of the commissioner that the bank has a high potential for failure, although failure is not necessarily imminent. B.(1) When the conservator has commenced the liquidation of a state bank under R.S. 6:391, the commissioner may authorize the formation of a new bank by a Louisiana or out-of-state bank holding company when a new bank will be used in a purchase and assumption or other transfer of assets and liabilities of a failed bank to maintain banking service to the community and prevent any loss on deposits of the failed bank. (2) However, the following provisions shall govern the bid procedure in such a circumstance: (a) The Federal Deposit Insurance Corporation shall set minimum bid requirements for assets and liabilities of the failed bank. (b) The Federal Deposit Insurance Corporation's calculations and estimates of the minimum bid requirements shall be determinative. (c) Bids for such assets and liabilities may be solicited from in-state banks, Louisiana bank holding companies, Louisiana multi-bank holding companies, individuals, groups of individuals, and out-of-state banks, out-of-state bank holding companies, out-of-state multi-bank holding companies, individuals and groups of individuals. (d) The Federal Deposit Insurance Corporation may solicit such bids as are practicable from prospective purchasers or merger partners it determines, in its sole discretion, are both qualified and capable of acquiring assets and liabilities of the bank. (e) If the minimum bid requirements are met by any of such entities, the bank shall be acquired by the bidder whose bid was determined by the Federal Deposit Insurance Corporation, in its sole discretion, to be the least costly and most acceptable bid from among those submitted. (f)-(i) Repealed by Acts 1989, No. 686, §2, eff. July 7, 1989. Acts 1986, No. 577, §1, eff. July 2, 1986; Acts 1989, No. 686, §§1 and 2, eff. July 7, 1989; Acts 1995, No. 1249, §1.
LA Rev Stat § 6:537.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§537.1. Parity provision

RS 537.1 - Parity provision In accordance with the provisions of the Riegle-Neil Interstate Banking and Branching Efficiency Act, a Louisiana bank or bank holding company may acquire an out-of-state bank or bank holding company or may branch into any other state to the same extent as any state chartered bank, national bank, foreign bank, or other similar institution in the host state in question may do so and shall have the right and power to exercise and enjoy all rights, powers, privileges, and immunities accorded to any state chartered bank, national bank, foreign bank, or other similar institution in the host state. Acts 1995, No. 1249, §1.
LA Rev Stat § 6:538 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§538. Five-year continuous operation requirement

RS 538 - Five-year continuous operation requirement The commissioner shall not approve an application for an acquisition under this Part unless the Louisiana bank to be acquired, or at least one Louisiana bank subsidiary of the bank holding company to be acquired, has as of the proposed date of acquisition been in existence and in continual operation for at least five years. Acts 1986, No. 577, §1, eff. July 2, 1986; Acts 1995, No. 1249, §1.
LA Rev Stat § 6:539 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§539. Agency activities; prohibitions

RS 539 - Agency activities; prohibitions A. In accordance with the rules, regulations, policies, and procedures of the office of financial institutions, any Louisiana state-chartered financial institution may receive deposits, renew time deposits, close loans, service loans, and receive payments on loans and other obligations as an agent for any other financial institution. B. Notwithstanding any other provision of law, any Louisiana financial institution acting as an agent in accordance with Subsection A of this Section shall not be considered to be a branch of the other financial institution for which it acts as agent. C. In acting as an agent pursuant to this Section, a state-chartered bank may: (1) Conduct any activity which such institution is not prohibited from conducting as a principal under any applicable federal or state law, or (2) As a principal, have an agent conduct under this Section any activity which the institution is not prohibited from conducting under any applicable federal or state law. D. No provision of this Section shall be construed as affecting either of the following: (1) The authority of any financial institution to act as an agent on behalf of any other financial institution under any other provision of law. (2) Whether a financial institution which conducts any activity as an agent on behalf of any other financial institution under any other provision of law shall be considered to be a branch of such other institution. E. Agency relationships by and between financial institutions as provided in this Section shall be on terms that are consistent with safe and sound banking practices and all applicable regulations of any appropriate state or federal banking supervisory agency. Acts 1986, No. 577, §1, eff. July 2, 1986; Acts 1995, No. 1249, §1.
LA Rev Stat § 6:540.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§540.1. Savings clause

RS 540.1 - Savings clause Nothing in this Part shall be interpreted or construed as approving any act, actions, or conduct which is or has been or may be in violation of any existing law, nor shall anything herein contained constitute a defense to any action, suit, or proceeding pending or hereafter instituted on account of any prohibited antitrust or monopolistic act, action, or conduct. Acts 1995, No. 1249, §1.
LA Rev Stat § 6:540.2 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§540.2. Construction with other laws

RS 540.2 - Construction with other laws A. The provisions of R.S. 6:511 through 517 shall be applicable to a bank holding company, as defined in this Part, operating in Louisiana, but the restrictions on acquisitions contained therein shall continue to apply only to acquisitions in this state and the restrictions on activities shall continue to apply only to restrict activities in this state. B. Except as expressly provided herein, nothing contained in this Part shall be construed to amend or modify the provisions of any other law governing the supervision or regulation of banks and bank holding companies or the organization and powers of the commissioner with respect thereto. In particular, and not by way of limitation of the scope of the preceding sentence, nothing in this Part shall be construed to alter, amend, or repeal the prohibitions against the establishment of branch banking offices contained in R.S. 6:501 through R.S. 6:506. C. The provisions of R.S. 6:124.1 shall apply to out-of-state banks and bank holding companies acquiring Louisiana banks, bank holding companies, or banking offices to the same extent as they apply to in-state banks and bank holding companies. D. The provisions of R.S. 9:3554(L) shall apply to all national banks, foreign bank branches, out-of-state banks, and bank holding companies in the same manner as they apply to Louisiana banks. Acts 1995, No. 1249, §1; Acts 1999, No. 263, §1.
LA Rev Stat § 6:541 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§541. Declaration of policy

RS 541 - Declaration of policy In order to encourage the development of the financial services industry within this state, thereby increasing employment opportunities and broadening the tax base, it is declared to be the policy of the state of Louisiana to promote the organization of financial service center banks and the retention of existing financial services within the state. Acts 1987, No. 808, §1.
LA Rev Stat § 6:542 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§542. Definitions

RS 542 - Definitions The following definitions shall apply for purposes of this Part: (1) "Bank" means a banking or similar corporation organized under the banking or currency laws of the United States of America or of this state which: (a) Makes commercial or consumer loans; or (b) Accepts deposits; and (c) Is eligible for insurance by the Federal Deposit Insurance Corporation. (2) "Bank holding company" means "bank holding company" as defined in R.S. 6:512(A)(1) and includes bank holding companies domiciled in other states. (3) "Financial service center bank" means a bank organized and operating in accordance with the provisions of this Part. (4)(a) "Louisiana borrower" or "Louisiana customer" means any of the following: (i) A person domiciled in Louisiana. (ii) A corporation, partnership, or trust organized under Louisiana law. (iii) A corporation, partnership, or trust organized under the laws of another state which has its principal offices in Louisiana. (iv) A Louisiana governmental agency or instrumentality. (b) "Louisiana borrower" does not include a Louisiana guarantor of a loan to a borrower domiciled outside of Louisiana or an employee of the financial service center bank. (5) "Resident" means anyone living in Louisiana at the time of acquiring a license of institution. Acts 1987, No. 808, §1.
LA Rev Stat § 6:543 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§543. Limited exception to bank holding company acts

RS 543 - Limited exception to bank holding company acts A. Notwithstanding any other law to the contrary, a bank holding company, including a bank holding company domiciled in another state, may establish one or more financial service center banks in Louisiana, provided that each financial service center bank limits its activities to those authorized under this Part and complies with the applicable requirements of R.S. 6:547. B. Nothing in this Section or in this Part shall be construed to permit a bank holding company with principal offices outside of Louisiana to acquire, own, or control a bank in this state which is not a financial service center bank organized under this Part. Acts 1987, No. 808, §1.
LA Rev Stat § 6:544 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§544. Organization of financial service center banks

RS 544 - Organization of financial service center banks A. Financial service center banks shall be organized in the manner provided in Subchapter A of Chapter 3 of this Title, except that: (1) The articles of incorporation of a financial service center bank shall expressly provide that such bank shall limit its activities to only those authorized in this Part. (2) At least one of the organizers or directors of a financial service center bank must be a resident of Louisiana. (3) A financial service center bank shall include the phrase "financial service center bank" in its corporate name. (4) A financial service center bank organized under this Part shall have a minimum initial capital of five million dollars. (5) A financial service center bank may not merge with or acquire another financial institution domiciled in this state, nor may a financial service center bank convert into another type of financial institution. B. In addition to the criteria provided in R.S. 6:214, to the extent applicable, the commissioner shall consider the unemployment figures for the community in which the proposed financial service center bank is to be located when granting a charter for such an institution. Acts 1987, No. 808, §1.