reglab/housing_qa huggingface dataset:
LA Rev Stat § 6:1276 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1276. Merger; adoption of plan

RS 1276 - Merger; adoption of plan A. Any federally insured institution may merge into a savings bank operating under this Chapter. Approval of the plan of merger shall be by resolution adopted by a majority vote of all members of the board of directors of each merging institution. B. The plan of merger shall include: (1) The name of each of the merging institutions, the name of the continuing savings bank, the location of the business office, and the location of the branch offices. (2) With respect to the resulting savings bank, the amount of capital, surplus, and reserve for operating expenses; the classes and the number of shares to stock and the par value of each share; the charter and bylaws of the resulting savings bank; and a detailed financial statement showing the assets and liabilities after the proposed merger. (3) Provisions stating the method, terms, and conditions of carrying the merger into effect, including the manner of converting the shares of the merging savings banks into the cash, shares of stock, or other securities or properties stated in the merger agreement to be received by the stockholders of each merging party. (4) Provisions governing the manner of disposing of any shares of stock of the resulting savings bank which are not taken by the dissenting stockholders of each merging party. (5) Such other provisions as appear necessary or desirable or as the commissioner may reasonably require to enable him to discharge his duties with respect to the merger. C. After approval by the board of directors of each of the merging institutions, the merger agreement shall be submitted to the commissioner for approval, together with the certified copies of the authorizing resolutions of each board of directors showing approval by a majority of the entire board of each merging institution. After receipt of the items specified herein, the commissioner may make or cause to be made an examination of the affairs of each of the merging institutions and their affiliates and subsidiaries, the expense of which is to be paid by the merging institutions. D. The commissioner may then approve or disapprove the proposed merger agreement. The commissioner shall not approve a merger agreement unless he finds that: (1) The resulting savings bank meets the requirements of this Chapter for the formation of a new savings bank at the proposed main office of the resulting savings bank. (2) The same conditions exist with respect to the resulting savings bank as would be required under this Chapter for the organization of a new savings bank. (3) The merger agreement is fair to all persons affected. (4) The resulting savings bank will be operated in a safe and sound manner. E. If the commissioner disapproves of the proposed merger, he shall state his objections in writing and give the merging institutions a stated period of time in which to amend the plan of merger to obviate such objections. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1277 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1277. Merger; vote of approval

RS 1277 - Merger; vote of approval The commissioner shall require that the plan of merger be submitted to the stockholders of the savings banks for approval. The commissioner may require that the plan of merger be submitted to members of a mutual savings bank. Each meeting of the members or stockholders of the savings bank operating under this Chapter shall be called and held in accordance with the provisions of this Chapter dealing with annual and special meetings. The plan is approved if it receives the affirmative vote of two-thirds or more of the total votes entitled to be cast. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1278 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1278. Merger; commissioner's certificate

RS 1278 - Merger; commissioner's certificate The executed merger agreement together with copies of the resolutions of the members or stockholders of each merging institution approving it, certified by the managing officer, and attested to by the secretary, shall be filed with the commissioner. The commissioner shall then issue to the continuing savings bank, a certificate of merger, setting forth the name of each merging institution, the name of the continuing savings bank, and the articles of incorporation of the continuing savings bank. The merger shall take effect upon the recording of the certificate in the same manner as the articles of incorporation, and in each parish in which the business office of any of the merging institutions was located and in the parish in which the business office of the continuing savings bank is located. When duly recorded, such certificate shall be conclusive evidence of the merger and of the correctness of the proceedings therefor except against the state. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1279 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1279. Effect of merger

RS 1279 - Effect of merger The continuing savings bank shall be considered the same business and corporate entity as each merging institution, with all the property, rights, duties, and obligations of each merging institution, except as otherwise provided by the articles of incorporation of the continuing savings bank. All liabilities of each of the merging institutions shall be liabilities of the continuing savings bank; and all of the rights, franchises, and interests of each of the merging institutions in and to every kind of property, real, personal, or mixed, shall vest automatically in the continuing savings bank, without any deed or other transfer. Any reference to a merging institution in any writing, whether executed or effective before or after the merger, shall be deemed a reference to the continuing savings bank, if not inconsistent with the other provisions of such writing. No pending action or other judicial proceeding to which any merging institution is a party shall be abated or dismissed by reason of the merger, but shall be prosecuted to final judgment in the same manner as if the merger had not occurred. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1280 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1280. Merger; commissioner's expenses

RS 1280 - Merger; commissioner's expenses The expenses of any examination made by or at the direction of the commissioner of financial institutions in connection with a proposed merger shall be paid for by the merging institutions. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1281 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1281. Sale of assets

RS 1281 - Sale of assets A savings bank, in one transaction not in the usual course of business, may sell all or substantially all of its assets, with or without its name and goodwill, to another savings bank, or to any other financial institution, in consideration of money, capital, or obligations of the purchasing institution. A savings bank may sell any office or facility and equipment in conformity with the regulations of the commissioner. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1282 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1282. Procedure to effect sale of all assets

RS 1282 - Procedure to effect sale of all assets A. The procedure to effect a sale authorized by R.S. 6:1279 and 1284 shall be as follows: (1) The board of directors shall adopt a resolution setting forth the terms of the proposed sale and shall submit the plan to the commissioner for his preliminary approval. Upon receipt of approval by the commissioner, the plan shall be submitted to a vote of the members at a special or annual meeting. (2) The terms shall be set forth in the notice of the meeting as prescribed in R.S. 6:1183(B). (3) The proposed sale shall be approved by the members or stockholders upon receiving in the affirmative two-thirds or more of the total number of votes which all members or stockholders of the savings bank are entitled to cast. A proposal for the voluntary liquidation of the savings bank may be submitted to the members or stockholders at the same meeting, or at any later meeting called for such purpose, in accordance with Part IV of this Chapter. A report of proceedings, certified by the president or vice president and attested to by the secretary, and setting forth the terms of the proposed sale, the notice given, and the time of its mailing, the vote on the proposal, and the total number of votes which all members or stockholders of the savings bank are entitled to cast thereon, shall be filed with the commissioner. B. If the commissioner finds that the proposed sale is fair to all holders of capital, creditors, and other persons concerned, and provision has been made for the disposition of the remaining assets, if any, of the savings bank as provided in this Chapter for voluntary liquidation, he shall issue to the savings bank a certificate of authorization for such sale, with a copy of the filed report of proceedings attached to the certificate. C. When the commissioner's certificate is recorded in the same manner as the savings bank's articles of incorporation, the savings bank may complete the sale so authorized, except that the savings bank shall also have the approval of the Federal Deposit Insurance Corporation. D. If the sale includes the name of the savings bank, the purchaser shall have the exclusive right to such name for a period of five years. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1284 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1284. Conversion of an existing financial institution to a savings bank

RS 1284 - Conversion of an existing financial institution to a savings bank An existing financial institution may become a Louisiana savings bank by: (1) Applying to the commissioner of financial institutions for a Louisiana savings bank charter. (2) Obtaining insurance of accounts from the Federal Deposit Insurance Corporation. (3) Complying with the provisions of this Chapter and the rules and regulations of the commissioner, except that any requirements of publication, notice, and public hearing are hereby waived. (4) Paying all outstanding bills for supervisory fees, examination fees, membership fees and other fees, penalties, and assessments associated with its original charter. (5) Recording a savings bank charter in the parish of its company headquarters. (6) Giving notice to its original chartering authority and surrendering its charter to its chartering authority upon approval of the commissioner. Acts 1990, No. 816, §1, eff. Sept. 1, 1990; Acts 2003, No. 17, §1, eff. May 23, 2003; Acts 2003, No. 60, §1, eff. May 23, 2003.
LA Rev Stat § 6:1285 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1285. Emergency merger

RS 1285 - Emergency merger With the prior approval of the commissioner, which approval shall state that the proposed merger is in his opinion necessary for the protection of the depositors and other creditors, any financial institution may, by a vote of a majority of its board of directors and without a vote of its members or stockholders, merge another savings bank, a savings and loan association, a federal savings and loan association, or bank with such other savings bank, savings and loan association, federal association, or bank being the resulting or continuing association, federal association, or bank. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1286 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1286. Emergency sale of assets

RS 1286 - Emergency sale of assets A. With the approval in writing of the commissioner, which approval shall state that the proposed sale is, in his opinion, necessary for the protection of the depositors and other creditors, any savings bank may, by a vote of a majority of its board of directors and without a vote of its members or stockholders, sell all or any part of its assets to another savings bank, savings and loan association, or financial institution as defined in the Louisiana Banking Law, or to the Federal Deposit Insurance Corporation, or to both a state or federally chartered savings bank or savings and loan association or a bank and the Federal Deposit Insurance Corporation, provided that a savings bank, state or federally chartered savings and loan association, or bank assumes in writing all of the liabilities of the selling association. B. Notwithstanding any other provisions of this Chapter, a savings bank may sell to any savings bank, savings and loan association, or financial institution, as defined in the Louisiana Banking Law, an insubstantial portion of its total deposits which shall have the same meaning as provided in Part 5(d)(2)(D) of the Federal Deposit Insurance Chapter. Such sale of an insubstantial portion of a savings bank's deposits may be by vote of a majority of the board of directors and, with approval of the commissioner, without a vote of its members or stockholders. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1301 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1301. Powers of commissioner

RS 1301 - Powers of commissioner The commissioner shall have the following powers and duties: (1) To exercise the rights, powers, and duties set forth in this Chapter or in any related provision of this Title. (2) To establish such regulations as may be necessary and appropriate to perform his duties under this Title as well as any power necessary and appropriate to prevent or terminate any condition which he may reasonably deem to create an emergency relative to a particular savings bank. (3) To cause suit to be filed in his name to enforce any law of this state that applies to savings banks, their service corporations, subsidiaries, affiliates, or holding companies operating under this Chapter, including the enforcement of any obligation of the officers, directors, agents, or employees of any savings bank. (4) To prescribe a uniform manner in which the books and records of every savings bank are to be maintained. (5) To establish a reasonable and rationally based fee structure for savings banks and holding companies operating under this Chapter, and for their service corporations and subsidiaries, which fees shall include but not be limited to annual assessment fees, application fees, regular and special examination fees, and other such fees as the commissioner establishes to be directly resultant from the commissioner's responsibilities under this Chapter. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1302 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1302. Examination

RS 1302 - Examination A. The commissioner either in person or through an employee appointed by him shall visit and examine each savings bank on a recurring schedule consonant with the use to the fullest extent possible of the resources of the office in accordance with good examination practice. On every examination, inquiry shall be made as to the quality of the assets and the condition and resources of the savings bank, and may be made into the mode of conducting business and managing its affairs, the action of its directors, the investment and disposition of its funds, the safety and prudence of its management, the compliance with the requirements of its articles of incorporation and this Title in the administration of its affairs, and other matters as the commissioner may determine. In the course of such examination, the commissioner shall also examine in the same manner all entities, companies, and individuals which the commissioner determines may have a relationship with the savings bank or any subsidiary or entity affiliated with it, if the relationship may adversely affect the affairs, activities, and safety and soundness of the savings bank, including: (1) Companies, controlled by the savings bank; (2) Entities, including companies controlled by the company or individual or individuals which or who control the savings bank; and (3) The company or other entity which controls or owns the savings bank. B. The commissioner may promulgate regulations to implement and administer this Part. C. The commissioner or the commissioner's examiners or other formally designated agents are authorized to administer oaths and to examine and to take and preserve testimony under oath as to anything in the affairs or ownership of any such bank or institution or affiliate thereof. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1303 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1303. Examiners

RS 1303 - Examiners The commissioner shall appoint competent examiners who are not officers or agents of, or in any manner interested in, any savings bank, savings bank holding company, or subsidiaries or affiliates of either, except that they may be depositors therein. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1304 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1304. Report of examination

RS 1304 - Report of examination Upon completion of each examination the commissioner shall make a report of examination to the board of directors of the savings bank or other entity examined. The report shall be read by each director who shall then execute a signed affidavit affirming that he or she has read the report. The affidavits shall be filed and retained by the savings bank or appropriate entity examined and shall be examined by the commissioner during regular examinations. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1305 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1305. Failure to comply with commissioner's report of examination; publication of reports

RS 1305 - Failure to comply with commissioner's report of examination; publication of reports Whenever any savings bank, after written notice of the recommendations of the commissioner based on a report of examination, fails to comply with these recommendations within forty-five days after the notice, the commissioner is authorized to publish the part of such report of examination as relates to any recommendation not complied with, provided that notice of intention to publish is given to the savings bank at least five days before publication is made. The commissioner may, in his discretion, extend the period for compliance for good cause upon written application. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1306 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1306. Orders of the commissioner

RS 1306 - Orders of the commissioner A. If the affairs of the savings bank, savings bank subsidiary or affiliate, or savings bank holding company are not being conducted in accordance with this Chapter, the commissioner shall require the directors, officers, and employees to take any necessary corrective action. If the necessary corrective action is not made, the commissioner may issue a formal order to the directors of the savings bank, subsidiary, affiliate, or holding company, to be delivered either personally or by registered or certified mail, specifying a date, which may be immediate or may be a later date, for the performance by the savings bank, subsidiary, affiliate, or holding company of the corrective action. Such order or any part thereof shall be subject to and in compliance with R.S. 6:122. B. If the formal order of the commissioner in whole or in part contains a finding that the business of the savings bank or holding company is being conducted in a fraudulent, illegal, unsafe, or unsound manner, or that the violation thereof or the continuance by the savings bank or holding company or the practice to be corrected could cause insolvency or substantial dissipation of assets or earnings or the impairment of its capital, such order or part thereof shall be complied with immediately on or before the effective date thereof until modified or withdrawn by the commissioner or modified or terminated by a court of competent jurisdiction. The commissioner may apply to the district court for the parish in which the savings bank or holding company is located for enforcement of such order requiring prompt compliance. C. If no hearing has been requested within the time specified by this Chapter, the commissioner may, at any time within ninety days after the effective date of the order, institute suit in the Nineteenth Judicial District or the district court for the parish in which the savings bank or holding company is located, to compel the directors, officers, or employees to take the required corrective action. Such court, after due process of law, shall adjudicate the question, enter the proper order, or orders and enforce them. D. No provision of this Part shall interfere with the exercise by the commissioner of any provision of Part XI of this Chapter. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1307 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1307. Recordkeeping and retention of records by a savings bank

RS 1307 - Recordkeeping and retention of records by a savings bank A. Each savings bank is required to maintain appropriate books and records as required by the commissioner and in accordance with generally accepted accounting principles and requirements of its insurer of accounts. All books and records shall be current, complete, organized, and readily accessible to the commissioner, the commissioner's agents and examiners, and to the savings bank's auditors and accountants. B. Each savings bank employing an outside data processing service shall inform the commissioner at the initiation, renewal, or changing of a contract for data processing services with an outside data processing service. Such contract or agreement shall be submitted to the commissioner ninety days prior to its implementation. Any contract with a data processing service or for data processing services shall provide that records maintained shall at all times be available for examination and audit by the commissioner. Each savings bank shall implement internal control and security measures for its data processing activities. C. The commissioner may further regulate these matters by the promulgation of rules concerning data processing. As used herein, "data processing" shall mean all electronic or automated systems of communication and data processing by computer. D. The commissioner shall require savings banks operating under this Chapter to retain records in the same manner as banks and savings and loan associations incorporated under the laws of this state. No liability shall accrue against the savings bank or the commissioner or this state for destruction of records according to regulations of the commissioner promulgated under the authority of this Part. In any cause or proceeding in which any such records may be called in question or be demanded by any savings bank, a showing of the expiration of the period so prescribed shall be sufficient excuse for failure to produce them. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.