reglab/housing_qa huggingface dataset:
LA Rev Stat § 6:1098 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1098. Residential mortgage loan brokerage contracts

RS 1098 - Residential mortgage loan brokerage contracts A. Each residential mortgage loan brokerage contract shall be in writing and signed by all contracting parties. The mortgage broker shall retain a signed copy of the residential mortgage loan brokerage contract in the customer's file. B. The mortgage broker must provide the prospective borrower with a written "Mortgage Loan Origination Agreement" no later than three days after the initial loan application date. The written agreement shall describe the nature of the mortgage broker's relationship with the borrower and the manner in which the mortgage broker is compensated for his services. Such disclosures may be incorporated into the brokerage contract or provided in a separate document. C. The written disclosures provided to the borrower shall also contain the following information as applicable: (1) The name, address, telephone number, and if applicable, the unique identifier of the originator. (2) The name, address, telephone number, and if applicable, the unique identifier of the residential mortgage lender by whom the originator is employed. D. Failure of the mortgage broker to provide the disclosures required by this Section shall not invalidate any residential mortgage loan entered into by a consumer through the efforts of the mortgage broker, but shall subject the mortgage broker to a refund of any brokerage fees obtained in connection with such residential mortgage loan. Acts 1999, No. 1098, §1, eff. July 9, 1999; Acts 2001, No. 617, §1, eff. June 22, 2001; Acts 2009, No. 522, §1, eff. July 31, 2009.
LA Rev Stat § 6:1099 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1099. Criminal penalties

RS 1099 - Criminal penalties A. The commissioner may report the violations of the following provisions to the attorney general or to the district attorney of the appropriate parish, who may institute the proper proceedings. B. It shall be a misdemeanor for a mortgage broker or lender to knowingly collect advance fees in excess of those provided for in R.S. 6:1096(G), and upon conviction he shall be subject to a fine not less than five hundred dollars and not more than one thousand dollars, or to imprisonment not exceeding one year, or both. C. Any person who knowingly provides false or misleading information to the commissioner on an application and such information is material to approval of the application shall be guilty of a misdemeanor and upon conviction shall be subject to a fine not less than five hundred dollars and not more than one thousand dollars, or to imprisonment not exceeding one year, or both. D. Any licensee or exempt registrant who fails to account for or deliver to any person any money, funds, deposits, checks, drafts, mortgages, or other documents, or things of value to the borrower in violation of the provisions of this Chapter shall be guilty of a misdemeanor and upon conviction shall be subject to a fine not less than five hundred dollars and not more than one thousand dollars, or to imprisonment not exceeding one year, or both. E. Any licensee who fails to disburse, without just cause, any funds belonging to the borrower shall be guilty of a misdemeanor and upon conviction shall be subject to a fine not less than five hundred dollars and not more than one thousand dollars, or to imprisonment not exceeding one year, or both. F. A lender, broker, originator, or servicer who knowingly operates without a license or while not exempt from the provisions of this Chapter shall be guilty of a misdemeanor and upon conviction shall be subject to a fine not less than five hundred dollars and not more than one thousand dollars, or to imprisonment not exceeding one year, or both. Acts 2001, No. 617, §1, eff. June 22, 2001; Acts 2003, No. 875, §1; Acts 2009, No. 522, §1, eff. July 31, 2009; Acts 2014, No. 260, §1, eff. June 30, 2014.
LA Rev Stat § 6:1102 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1102. Counseling

RS 1102 - Counseling A.(1) Prior to accepting a final and complete application for a conventional reverse mortgage loan or assessing any fees, a reverse mortgage lender shall provide the prospective borrower with a list of at least five nonprofit counseling agencies that have been approved by the United States Department of Housing and Urban Development for counseling and that offer counseling to residents of the state. The counseling agencies shall meet the standards and requirements established by the United States Department of Housing and Urban Development for reverse mortgage counseling. (2) In connection with a conventional reverse mortgage loan, a mortgage lender shall not pay any counseling service fees without first informing the prospective borrower in writing that this may create a conflict of interest. A reverse mortgage lender shall disclose to the prospective borrower in writing any other payment arrangements or business affiliations between the lender and a counseling agency. B. A reverse mortgage lender shall not accept a final and complete application for a conventional reverse mortgage loan from a prospective applicant or assess any fees upon a prospective applicant without first receiving a certification from the applicant or the applicant's authorized representative that the applicant has received counseling from an agency described in Subsection A of this Section. The certification shall be signed by the borrower and the agency counselor, and shall include the date of the counseling and the name, address, and telephone number of both the borrower and the counselor. An electronic facsimile copy of the housing counseling certification shall satisfy the requirements of this Section. Acts 2010, No. 418, §1.
LA Rev Stat § 6:1103 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1103. Commitment and cooling off period

RS 1103 - Commitment and cooling off period In connection with a conventional reverse mortgage loan, at least seven calendar days prior to closing a reverse mortgage loan, a reverse mortgage lender shall provide the borrower with a loan term sheet or commitment letter outlining the proposed terms of the loan and informing the borrower that the borrower is not obligated to proceed with the loan transaction. Acts 2010, No. 418, §1.
LA Rev Stat § 6:1104 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1104. Reverse mortgage lender; duties to elders

RS 1104 - Reverse mortgage lender; duties to elders A. In addition to any other obligation under law, any reverse mortgage lender who offers, sells, or arranges the sale of a reverse mortgage to an elder, shall provide the elder with a notice that the elder should discuss the items outlined in this Section with a loan counselor. For the purposes of this Section, "elder" means any person sixty years of age or older. B. The reverse mortgage counselor shall discuss the following items with a prospective reverse mortgage borrower: (1) How unexpected medical or other events causing the borrower to move out of the borrower's home earlier than anticipated will impact the total annual cost of the reverse mortgage loan. (2) The extent to which the borrower's financial needs would be better met by options other than a reverse mortgage loan, including less costly home equity lines of credit, property tax deferral programs, or governmental aid programs. (3) Whether the borrower intends to use the proceeds of the reverse mortgage loan to purchase an annuity or other financial or insurance product and the consequences of doing so. (4) The effect of repayment of the reverse mortgage loan on other residents of the domicile that is securing the reverse mortgage loan after all borrowers are deceased or permanently abandon the domicile. (5) The borrower's ability to finance routine or catastrophic home repairs, especially if the maintenance is a factor that may determine when the reverse mortgage loan becomes payable. (6) The impact that the reverse mortgage loan may have on the borrower's tax obligations and eligibility for government assistance programs, and the effect that losing equity in the domicile securing the reverse mortgage loan will have on the borrower's estate and heirs. (7) The ability of the borrower to refinance alternative living accommodations, such as assisted living or long-term care, after the borrower's equity is depleted. C. If the prospective reverse mortgage borrower meets with a loan counselor prior to meeting with or discussing a reverse mortgage loan with a lender, the loan counselor shall review the items discussed in Subsection B of this Section with the prospective reverse mortgage borrower and also meet the notice requirement in Subsection A of this Section. Acts 2010, No. 418, §1.
LA Rev Stat § 6:1111 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1111. Approval by commissioner of rules and regulations affecting financial institutions

RS 1111 - Approval by commissioner of rules and regulations affecting financial institutions A rule, regulation, order, or administrative directive issued by a state or federal official, agency, or entity which is intended to be applicable to banks, banking associations, bank holding companies, savings banks, and savings institutions, homestead and savings and loan associations, credit unions, persons or companies engaged in the small loan business, extenders of consumer credit, or any other company or financial institution under the supervision of the commissioner of financial institutions and required to report to the commissioner or subject to rules and regulations issued by the commissioner, shall be effective as to any such company or financial institution only after the rule, regulation, order or other directive has been approved in writing by the commissioner of financial institutions. Added by Acts 1978, No. 487, §1.
LA Rev Stat § 6:1121 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1121. Definitions

RS 1121 - Definitions For purposes of this Chapter, the following terms shall have the following meanings: (1) "Credit agreement" means an agreement to lend or forbear repayment of money or goods or to otherwise extend credit, or make any other financial accommodation. (2) "Creditor" means a financial institution or any other type of creditor that extends credit or extends a financial accommodation under a credit agreement with a debtor. (3) "Debtor" means a person or entity that obtains credit or seeks a credit agreement with a creditor or who owes money to a creditor. (4) "Financial institution" means a bank, savings and loan association, savings banks, or credit union authorized to transact business in this state. Acts 1989, No. 531, §1.
LA Rev Stat § 6:1122 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1122. Credit agreements to be in writing

RS 1122 - Credit agreements to be in writing A debtor shall not maintain an action on a credit agreement unless the agreement is in writing, expresses consideration, sets forth the relevant terms and conditions, and is signed by the creditor and the debtor. Acts 1989, No. 531, §1.
LA Rev Stat § 6:1122.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1122.1. Defenses to written credit agreements

RS 1122.1 - Defenses to written credit agreements A.(1) In an action by a creditor, the debtor shall not assert a defense based on the terms and conditions of a credit agreement, unless the agreement is in writing, expresses conditions, sets forth the relevant terms and conditions, and is signed by the creditor and the debtor. (2) This Subsection shall not apply to unsecured revolving loan accounts, including those accessed by credit cards, or to any other unsecured consumer loans. B. Nothing in this Section shall limit the debtor's ability to assert a defense of forgery, identity theft, mistaken identity, lack of authorization, lack of contractual capacity, or payment of the debt. C. As used in this Section, the terms "consumer loan", "credit card", and "revolving loan account" shall have the meanings ascribed to them in the Louisiana Consumer Credit Law, R.S. 9:3510, et seq. Acts 2013, No. 356, §1, eff. June 17, 2013.
LA Rev Stat § 6:1123 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1123. Actions not considered agreements

RS 1123 - Actions not considered agreements A. The following actions shall not give rise to a claim that a new credit agreement is created, unless the agreement satisfies the requirements of R.S. 6:1122: (1) The rendering of financial or other advice by a creditor to a debtor. (2) The consultation by a creditor with a debtor. (3) The agreement of a creditor to take or not to take certain actions, such as entering into a new credit agreement, forbearing from exercising remedies under a prior credit agreement, or extending installments due under a prior credit agreement. B. A credit agreement shall not be implied from the relationship, fiduciary, or otherwise, of the creditor and the debtor. Acts 1989, No. 531, §1.
LA Rev Stat § 6:1124 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1124. No implied fiduciary obligations

RS 1124 - No implied fiduciary obligations No financial institution or officer or employee thereof shall be deemed or implied to be acting as a fiduciary, or have a fiduciary obligation or responsibility to its customers or to third parties other than shareholders of the institution, unless there is a written agency or trust agreement under which the financial institution specifically agrees to act and perform in the capacity of a fiduciary. The fiduciary responsibility and liability of a financial institution or any officer or employee thereof shall be limited solely to performance under such a contract and shall not extend beyond the scope thereof. Any claim for breach of a fiduciary responsibility of a financial institution or any officer or employee thereof may only be asserted within one year of the first occurrence thereof. This Section is not limited to credit agreements and shall apply to all types of relationships to which a financial institution may be a party. Acts 1991, No. 581, §1.
LA Rev Stat § 6:1125 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1125. §§1125 to 1127 Repealed by Acts 1981, No. 873, §4, eff. Oct. 1, 1981.

RS 1125 - §§1125 to 1127 Repealed by Acts 1981, No. 873, §4, eff. Oct. 1, 1981.
LA Rev Stat § 6:1131 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1131. Title

RS 1131 - Title This Chapter shall be known as the "Louisiana Savings Bank Act of 1990". Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1132 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1132. Policy and purposes

RS 1132 - Policy and purposes A. The purpose of this Chapter is to provide for the chartering, regulation, and supervision of savings banks. The policy of this Chapter is: to encourage growth of the personal savings base of the citizens of Louisiana; to promote and assist their stockholders and members in purchasing, building, improving, and repairing immovable property and removing encumbrances therefrom for the purpose of lending money to their stockholders and members; to provide a healthy savings bank industry with safe and sound methods of investment so that this savings base will be retained in Louisiana for Louisiana's growth; to encourage the retention of capital in Louisiana; and to build a strong new system of financial institutions in Louisiana which will, by their strength, be controlled and owned by Louisiana citizens and corporations and which shall be the nucleus for a geographically expansive industry. B. To further its purpose and policies, this Chapter shall be liberally construed except for those provisions which relate to safety and soundness of operations, investments, and management. In those areas, the legislature decrees that this Chapter shall be strictly construed and that each savings bank shall apply the prudent person rule. The commissioner of financial institutions shall interpret those provisions of this Chapter in keeping with that standard. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1133 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1133. Administration

RS 1133 - Administration This Chapter shall be administered by the commissioner of financial institutions under the authority granted to him by Chapter 2 of Title 6 of the Louisiana Revised Statutes of 1950. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1134 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1134. Applicability

RS 1134 - Applicability This Chapter shall apply to all financial institutions, no matter how named or chartered, if they comply with the provisions of this Chapter and with the rules of the commissioner promulgated pursuant to this Chapter. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1135 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1135. Federal deposit insurance

RS 1135 - Federal deposit insurance Any savings bank chartered under the supervision of this Chapter shall obtain and maintain federal deposit insurance of accounts through an insurance corporation created by an Act of Congress. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1136 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1136. Powers; parity with other financial institutions

RS 1136 - Powers; parity with other financial institutions A. Subject to the regulation of the commissioner and in addition to the powers granted by this Chapter, each savings bank operating under this Chapter shall possess all of the powers of a savings and loan association operating under the laws of the state of Louisiana and of a savings and loan association operating under the laws of the United States. Subject to the regulations of the commissioner, a savings bank may also obtain such other powers available to banks operating under the laws of the state of Louisiana as are consistent with the policy and purposes of this Chapter. B. A savings bank may establish branches or offices at which savings or investments are regularly received or loans approved, as follows: (1) To the same geographical extent that branch powers and offices are granted to state banks under the Louisiana Banking Law; (2) To the same geographical extent to which a savings and loan association organized under the laws of this state or the United States and doing business in Louisiana is permitted; and (3) To the same extent as holding companies and savings and loan associations headquartered outside the state of Louisiana but allowed to operate in Louisiana pursuant to Chapter 9-B of Title 6 of the Louisiana Revised Statutes of 1950. C. Notwithstanding any other provision of this Chapter, a savings bank which purchases or assumes all or any part of the assets or liabilities of an eligible insured bank, savings bank, or savings and loan association, may retain and maintain the main premises or branches purchased from the eligible insured bank, savings bank, or savings and loan association, as branches of the purchasing savings bank, provided it assumes the deposit liabilities of the eligible insured bank, savings bank, or savings and loan association maintained at such main premises or branches. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1140 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1140. Status as an IRS qualified savings banks institution

RS 1140 - Status as an IRS qualified savings banks institution All insured savings banks under the supervision of this Chapter shall qualify for and maintain the sixty percent asset test of the Internal Revenue Code of 1968 and any amendments thereto. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1141 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1141. Regulatory powers; promulgation of rules and regulations

RS 1141 - Regulatory powers; promulgation of rules and regulations A. The commissioner of financial institutions shall have the power to enact and promulgate rules and regulations as may be necessary or appropriate to implement the provisions of this Chapter. When making rules and regulations pursuant to this power, the commissioner shall consider among other matters the impact any such rule or regulation will have on a dual-banking system as well as the impact any such rule or regulation will have on the public interest in the business of banking. The commissioner may also consider the regulations of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Home Loan Bank Board to allow financial institutions organized under the laws of this state to offer services consistent with services offered by financial institutions organized under the laws of the United States. B. All regulations enacted and promulgated under this Section shall be subject to the provisions of R.S. 49:951 through R.S. 49:953 and R.S. 49:954.1, and prior to the promulgation of any such rule or regulation, the commissioner shall give each financial institution organized under this Chapter affected by the rule or regulation written notification of the content of such rule and regulation and the date and time of any public hearing held pursuant to those statutes. The commissioner shall provide notice at least ten days prior to the adoption of such rule or regulation, but the failure of a particular financial institution to receive notice thereof shall not affect the validity of such rule or regulation. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1142 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1142. Safety deposit boxes and safekeeping

RS 1142 - Safety deposit boxes and safekeeping  The provisions of R.S. 6:321 through 328 relative to safety deposit boxes and safekeeping shall be applicable to savings banks chartered under the provisions of the Louisiana Savings Bank Act of 1990 in the same manner as they are applicable to state banks.  Acts 2020, No. 236, §1.