reglab/housing_qa huggingface dataset:
LA Rev Stat § 6:385 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§385. Conservator's power to manage and control bank

RS 385 - Conservator's power to manage and control bank When a conservator has taken control of a state bank, he shall be vested with the full and exclusive power of management and control, including the power: (1) To take possession of all books, records, and assets of the bank. (2) To collect all debts, claims, and judgments belonging to the bank and to do such other acts as are necessary to preserve and liquidate its assets. (3) To execute in the name of the bank any instrument necessary and proper to effectuate its powers or perform its duties as conservator. (4) To initiate, pursue, and defend litigation involving any right, claim, interest, or liability of the bank. (5) To exercise any and all fiduciary functions of the bank as of the date of appointment as conservator. (6) To borrow money as necessary in the conservatorship of the bank and to secure such borrowings by the pledge or mortgage of bank assets; the repayment of money borrowed under this Subsection and interest thereon shall be considered an expense of administration. (7) To abandon or convey title to any holder of a mortgage, privilege, lien, or other security interest against property in which the bank has an interest whenever the conservator determines that to continue to claim such interest is burdensome and of no advantage to the bank, its depositors, creditors, or stockholders. (8) Subject to the approval of the receivership court, to sell any and all movable and immovable property, to compromise any debt, claim, or judgment due to the bank, and to discontinue any action or other proceeding pending therefor. (9) To terminate the conservatorship by restoring the bank to its board of directors or to commence a receivership of the state bank in accordance with Part II of this Subchapter. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
LA Rev Stat § 6:386 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§386. Objection to conservatorship

RS 386 - Objection to conservatorship Within ten days after the commencement of the conservatorship, any interested party may file an application with the receivership court for an order vacating such conservatorship. Unless a receiver has been confirmed, the court shall grant the order if it finds that the action of the conservator was unauthorized under this Part. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
LA Rev Stat § 6:387 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§387. Decision to liquidate bank or terminate conservatorship

RS 387 - Decision to liquidate bank or terminate conservatorship A. After conducting such investigations as circumstances may require and within six months of the initial filing of the petition pursuant to R.S. 6:382, the conservator shall terminate the conservatorship of the state bank or commence liquidation of the state bank if the state bank is insolvent, has had its deposit insurance with the Federal Deposit Insurance Corporation terminated, or is subject to an agreement or a final order to terminate that insurance. The conservator shall consult with the board of directors of the bank before making such decision. B. If the conservator shall decide to terminate his possession of the state bank, he shall file a motion in the receivership court requesting dismissal of his petition. Upon the issuance of that order, the conservator shall relinquish management and control of the bank. Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 1987, No. 107, §1.
LA Rev Stat § 6:391 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§391. Commencement of receivership; confirmation of receiver

RS 391 - Commencement of receivership; confirmation of receiver A. If the conservator shall determine to liquidate the state bank, he shall file a motion for an order from the receivership court to close the bank and commence liquidation thereof. The motion shall name the receiver of the state bank, who shall be the conservator unless some other person is appointed by the commissioner. The receiver shall apply for and shall be entitled to an ex parte order of the receivership court confirming his appointment. B. The commissioner shall appoint the FDIC receiver if any of the deposits of the state bank are insured by the FDIC. The FDIC shall not be required to post bond. C. Upon confirmation, the receiver shall be vested with all the powers granted a conservator in Part I of this Subchapter. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
LA Rev Stat § 6:392 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§392. Emergency sale of assets; purchase and assumption of assets

RS 392 - Emergency sale of assets; purchase and assumption of assets The receiver may, with ex parte approval of the receivership court, sell all or any part of the bank's assets to another state or national bank or to the FDIC. In like manner, the receiver may borrow from the FDIC any amount necessary to facilitate the assumption of deposit liabilities by a newly chartered or existing bank, assigning any part or all of the assets of the bank as security for such loan. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
LA Rev Stat § 6:393 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§393. Notice to creditors and depositors

RS 393 - Notice to creditors and depositors A. All persons having claims against the bank shall present their claims substantiated by legal proof to the receiver within one hundred eighty days after the bank is closed. B. The receiver shall cause notice of the claims procedure to be published once a week for twelve consecutive weeks in a newspaper of general circulation in the parish of domicile of the bank and to be mailed to each person whose name appears as a creditor or depositor upon books of the bank at his last address of record. C. Within one hundred eighty days following receipt of the claim, the receiver shall notify in writing any claimant whose claim has been rejected. Notice is effective when mailed. Any claimant whose claim has been rejected by the receiver may petition the receivership court for a hearing on his claim within sixty days from the date his claim is rejected. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
LA Rev Stat § 6:394 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§394. Payment of claims

RS 394 - Payment of claims All claims filed after the one hundred eighty day claim period prescribed by R.S. 6:393 and subsequently accepted by the receiver or allowed by the receivership court shall be entitled to share in the distribution of assets only to the extent of the undistributed assets in the hands of the receiver on the date such claims are accepted or allowed. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
LA Rev Stat § 6:394.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§394.1. Right of set-off

RS 394.1 - Right of set-off Notwithstanding Civil Code Articles 1893, et seq. or any other provision of law to the contrary, any funds held on deposit with any state bank on behalf of a depositor may be used by the depositor as a set-off against any and all loans, extensions of credit, or other obligations or indebtedness of the depositor owed to the depository bank in the event such bank is liquidated. Acts 1986, No. 379, §1.
LA Rev Stat § 6:395 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§395. Distribution of assets

RS 395 - Distribution of assets A. All claims against the bank's assets, proved to the receiver's satisfaction or approved by the receivership court, shall be paid in the following order: (1) Administration expenses of the liquidation. (2) Claims given priority under other provisions of state or federal law. (3) Deposit obligations. (4) Other general liabilities. (5) Debt subordinated to the claims of depositors and general creditors. (6) Equity capital securities. B. No interest on any claim shall be paid until all claims within the same class have received the full principal amount of the claim. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
LA Rev Stat § 6:396 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§396. Termination of executory contracts

RS 396 - Termination of executory contracts Within one hundred eighty days of the date of commencement of liquidation of the bank, the receiver may at his election reject any executory contract to which the bank is a party without any further liability to the bank or the receiver or any obligation of the bank as a lessee of movable or immovable property. The receiver's election to reject a lease creates no claim for rent other than rent accrued to the date of termination or for actual damages, if any, for such termination not to exceed the equivalent of six months' payment. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
LA Rev Stat § 6:397 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§397. Subrogation to rights of bank depositors

RS 397 - Subrogation to rights of bank depositors Whenever the FDIC pays or makes available for payment the insured deposit liabilities of a closed bank, the FDIC, whether or not it acts as receiver, shall be subrogated to all rights of depositors against the closed bank to the same extent as subrogation is provided for in the Federal Deposit Insurance Act, 12 U.S.C. 1811 et seq., in the case of a national bank. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
LA Rev Stat § 6:398 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§398. Liquidation procedures involving trust assets

RS 398 - Liquidation procedures involving trust assets A.(1) The receiver, with the approval of the receivership court, has the authority to appoint a successor to all rights, obligations, assets, deposits, agreements, and trusts held by the closed bank as trustee, administrator, executor, guardian, agent, and all other fiduciary or representative capacities. (2) The successor's duties and obligations commence upon appointment to the same extent binding upon the former bank and as though the successor has originally assumed such duties and obligations. Specifically, the successor shall succeed to and be entitled to administer all trusteeships, administrations, executorships, guardianships, agencies, and all other fiduciary or representative proceedings to which the closed bank is named or appointed by any other instrument, court order, or by operation of law. B. Nothing in this Section shall be construed to impair the right of the grantor or beneficiaries of trust assets to secure the appointment of a substituted trustee or manager. C. Within thirty days after appointment, the successor shall give written notice, insofar as practicable, to all interested parties named in the books and records of the bank or in trust documents held by it that such successor has been appointed in accordance with state law. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
LA Rev Stat § 6:399 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§399. Destruction of records

RS 399 - Destruction of records Subject to the approval of the receivership court, the closed bank's records may be destroyed after the receiver determines that there is no further need for them. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
LA Rev Stat § 6:400 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§400. Discharge of receiver

RS 400 - Discharge of receiver A. Whenever the receiver has paid all necessary costs and expenses of the liquidation of a bank, and has paid to every depositor and creditor of the bank, not including stockholders and their claims on account of stock owned by them, whose claims have been duly approved and allowed either the full amount of their claims or their equal and ratable proportion, and has made proper provision for all unclaimed balances on deposit, he shall call a meeting of the stockholders by giving notice thereof by advertisement published at least once a week for four weeks in a newspaper of general circulation in the parish of domicile of the bank. At this meeting the receiver shall appear and deliver to the stockholders or to the trustees hereinafter provided for, all of the remaining property, effects, books, records, or other assets of the bank. B. At the meeting called by the receiver, the stockholders, by majority vote of those present or represented, may elect to retain some or all of the remaining assets in lieu of a dissolution thereof. Upon election by the stockholders to retain any of the assets, the corporate existence shall continue solely for the purpose of administering the assets for the benefit of the stockholders. C. If the stockholders elect to retain any of the assets in lieu of dissolution, the stockholders, by majority vote of those present or represented, shall adopt a resolution providing for the following: (1) The designation of three trustees, who need not be stockholders, to administer the affairs of the corporation, the term for which they shall serve, the manner of filling vacancies, and the method of electing their successors. (2) The fixing of a day and date for the holding of an annual stockholders' meeting and the method of notice to the stockholders. (3) The powers and duties of the trustees. (4) The designation of a secretary who may be one of the three trustees and the term for which he shall serve. D. Upon transfer and delivery the receiver is discharged from further liability to the corporation and its creditors. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
LA Rev Stat § 6:401 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§401. Exclusive procedures

RS 401 - Exclusive procedures This Part provides the full and exclusive powers and procedures for the liquidation of state banks under the laws of this state, and no receiver or other liquidating agent shall be appointed for such purpose except as expressly provided in this Part. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
LA Rev Stat § 6:411 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§411. Engaging in business of banking without authority; penalty

RS 411 - Engaging in business of banking without authority; penalty A. It shall be unlawful for any person other than a financial institution to engage in the business of banking anywhere in this state. B. Financial institutions may only engage in the business of banking to the extent expressly permitted by the laws under which they are organized or licensed. C. Whoever violates this Section shall be fined not more than one thousand dollars a day for each day or part of a day during which the violation continues. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
LA Rev Stat § 6:412 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§412. Unauthorized use of the word "bank" or similar words

RS 412 - Unauthorized use of the word "bank" or similar words  A. It shall be unlawful for any person other than a bank to:  (1) Use the word "bank", "banker", "banking", "trust", "trustee", "trust company", or any other word of similar import as part of its name or title, except that a trust created and operated pursuant to the provisions of the Louisiana Trust Code as contained in R.S. 9:1721 et seq., and a real estate investment trust authorized under the provisions of R.S. 12:491 et seq., may use the word "trust" as part of its name or title, and a trust company created and operated pursuant to the Louisiana Trust Company Law as contained in R.S. 6:571 et seq. shall use only the words "trust", "trustee", or "trust company" as part of its name or title;  (2) Make use of any office sign at the place where the business is transacted having thereon any words indicating that the place or office is that of a bank;  (3) Make use of or circulate any written, printed, or partly written and partly printed paper heading thereon any words indicating that the business is that of a bank; or  (4) Otherwise purport or represent to the public that that person is a bank or is engaged in the business of banking as a bank.  B. Whoever violates this Section shall be fined not more than one thousand dollars a day for each day or part of a day during which the violation continues.  C. Nothing in this Section shall be construed to prevent the use of the words "bank", "banks", "banker", "bankers", "banking", or any similar word in a context clearly not purporting to refer to a general banking business.  D. Nothing in this Section shall be construed to prevent the use of the word "trust", "trustee", "trust company" or any word of similar import as part of a name or title in a context clearly not purporting to refer to engaging in a general trust, trustee, or trust company business.  Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 1986, No. 7, §1; Acts 1991, No. 200, §1; eff. July 2, 1991; Acts 2003, No. 573, §1, eff. June 27, 2003; Acts 2019, No. 190, §1, eff. June 11, 2019.
LA Rev Stat § 6:413 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§413. Prohibited use of the term "insured savings"

RS 413 - Prohibited use of the term "insured savings" A. No person shall offer, hold out, represent, or advertise any account, deposit, investment, stock purchase, indenture, passbook, or other evidence of a credit on deposit or maintained as an account as constituting "insured savings", or use the term "insured savings" with regard to any such account or deposit in any manner whatsoever unless such account or deposit is insured by the Federal Deposit Insurance Corporation or such other instrumentality of or corporation chartered by the United States as hereafter may be established for the purpose of insuring the withdrawal of any account or deposit. B. Any person who is found guilty of a violation of any of the provisions of this Section shall be punishable by a fine of not more than one thousand dollars, and each day of violation shall constitute a separate offense. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
LA Rev Stat § 6:414 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§414. Use of certain terms by persons other than financial institutions prohibited

RS 414 - Use of certain terms by persons other than financial institutions prohibited A. No person other than a financial institution shall in any manner directly or indirectly in written or verbal advertising or other communication purport to offer a savings account, savings deposit, certificate of deposit, savings certificate, money market certificate, share account, share draft account, passbook account, checking account, or withdrawals from such accounts. This provision, however, shall not be construed to prohibit any person from describing in verbal or written advertisement in this state the investment services it is offering, provided that such advertisement does not mislead the public by implying that such investment services are the equivalent of those stated above. B. No person other than a financial institution or other person subject to the general supervision or regulation of the commissioner pursuant to this Title or Title 9 of the Louisiana Revised Statutes of 1950 shall engage in business as a bond for deed escrow agent on or after November 1, 1993, unless such person has first obtained a license pursuant to regulations issued by the commissioner. A person engaged in business as such an agent on January 1, 1993, may continue to be so engaged and shall have until December 31, 1993, to obtain a license in conformity herewith. The commissioner shall promulgate such rules and regulations as deemed necessary to implement this provision. C. Any person who is found guilty of a violation of any of the provisions of this Section shall be punishable by a fine of not more than one thousand dollars, and each day of violation shall constitute a separate offense. Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 1993, No. 932, §1, eff. Sept. 1, 1993.
LA Rev Stat § 6:414.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§414.1. Derogatory statements regarding financial condition of financial institution prohibited; penalty

RS 414.1 - Derogatory statements regarding financial condition of financial institution prohibited; penalty A. It shall be unlawful for any person maliciously to make, circulate, or transmit to another person any statement, rumor, or suggestion which is directly or by inference derogatory as to the financial condition or which affects the solvency of any financial institution doing business in this state, or to counsel, aid, procure, or induce another to make, circulate, or transmit any such statement or rumor. B. Truth of the statement made shall be a defense to the crime set forth in this Section. C. Whoever violates this Section shall be fined not more than five hundred dollars or imprisoned for not more than six months, or both. Acts 1986, No. 371, §1.
LA Rev Stat § 6:416 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§416. Loan on pledge of own stock and pledge of own stock prohibited

RS 416 - Loan on pledge of own stock and pledge of own stock prohibited A. Except as otherwise provided by rule or regulation promulgated by the commissioner, no loan shall be made by any bank to any borrower on pledge of the bank's own stock or the stock of its parent company. Except as provided in R.S. 6:263(C) and Subsection B of this Section, a state bank may not purchase or redeem any of its own stock or the stock of its parent company. B. A state bank may acquire its own stock or the stock of its parent company for a debt previously contracted, in which case the stock shall not be held for more than one year, subject to extension by the commissioner. Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 1991, No. 371, §1, eff. July 6, 1991; Acts 1997, No. 1003, §1; Acts 2001, No. 529, §1, eff. June 21, 2001; Acts 2003, No. 570, §1, eff. June 27, 2003.
LA Rev Stat § 6:417 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§417. Unlawful solicitation or acceptance of gratuity or compensation by officer, director, or employee

RS 417 - Unlawful solicitation or acceptance of gratuity or compensation by officer, director, or employee A. No officer, director, or employee of any bank shall solicit, accept, or agree to accept, directly or indirectly, from any person other than the bank any gratuity, compensation, or other personal benefit for any action taken by the bank or for endeavoring to procure any such action. B. Each officer, director, or employee who violates or consents to a violation of this Section shall be fined not more than one thousand dollars. Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
LA Rev Stat § 6:418 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§418. Pledge of assets to secure deposits; exceptions; penalty

RS 418 - Pledge of assets to secure deposits; exceptions; penalty A. No bank shall pledge or hypothecate any of its assets for the purpose of securing any depositor or for the purpose of furnishing an indemnity bond to secure any depositor from any loss that might be occasioned to the depositor by reason of the failure or inability of the bank to pay in full all of its depositors. B.(1) Nothing contained in Subsection A shall impair the rights of banks to secure deposits of public entities as they may be required to be secured from time to time by other provisions of law or to secure deposits pursuant to any federal deposit insurance program. (2) Any bank or trust company acting as tutor, curator, executor, administrator, or other fiduciary, whose trust department makes deposits with its banking department of moneys for which it is responsible as tutor, curator, executor, administrator, or other fiduciary, may secure those deposits by delivering to its trust department, as collateral security, readily marketable bonds or other obligations or assets of that institution having and maintaining a market value at least equal to the amount of those deposits. C. Any officer or employee who violates this Section shall be fined not less than one thousand dollars nor more than five thousand dollars. Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 1986, No. 6, §1.