reglab/housing_qa huggingface dataset:
LA Rev Stat § 6:1048 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1048. Trust imposed on sales or transmission proceeds

RS 1048 - Trust imposed on sales or transmission proceeds Agents of licensees shall hold in trust from the moment of receipt the proceeds of a sale or delivery of the licensees' checks or money collected for transmittal. An agent may not commingle the proceeds with his own property or funds, except to use the funds in the ordinary course of its business for the purpose of making change. If any agent of a licensee commingles any proceeds received from the sale of checks issued or money transmitted by the licensee with any other funds or property owned or controlled by the agent, all commingled proceeds and other property shall be considered held in trust in favor of the licensee in an amount equal to the amount of the proceeds due the licensee from the sale of checks or money transmitted less the amount due the agent from the sale or transmission. In the event that a licensee's license is revoked by the commissioner pursuant to R.S. 6:1039, all proceeds then held in trust by agents of that licensee shall be deemed to have been assigned to the commissioner. Acts 1989, No. 401, §2, eff. June 30, 1989; Acts 2001, No. 586, §1, eff. June 22, 2001.
LA Rev Stat § 6:1049 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1049. List of financial institutions

RS 1049 - List of financial institutions When a license is suspended and revoked, the licensee shall supply the commissioner with a list of the financial institutions where he has transacted such business as is governed by the provisions of this Chapter. Acts 1990, No. 827, §1.
LA Rev Stat § 6:1050 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1050. Retention of surety bond

RS 1050 - Retention of surety bond The commissioner shall retain the surety bond required by this Chapter until the list required by R.S. 6:1049 has been supplied and thirty days have passed since the financial institution or institutions have been notified in accordance with R.S. 6:1051. Acts 1990, No. 827, §1.
LA Rev Stat § 6:1051 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1051. Notification of financial institutions; violations; penalties

RS 1051 - Notification of financial institutions; violations; penalties A. When a license is suspended and revoked, the commissioner shall notify the financial institution or institutions of the former licensee that the person is no longer authorized to transmit money or sell checks under the provisions of this Chapter. B. After such notification, no financial institution shall participate in a transaction with a former or suspended licensee in contravention of the provisions of this Chapter; however, a financial institution may accept deposits of funds into an account of a former or suspended licensee if such account does not have adequate funds to honor all outstanding checks as the term "check" is defined by R.S. 6:1032(1). C. The commissioner may assess and collect a civil money penalty against a financial institution in an amount not exceeding two hundred and fifty dollars for each transaction in violation of the provisions of this Section. D. Nothing in this Section shall prevent a financial institution from engaging in a transaction with a former licensee who applies for, receives, and retains a new license in accordance with the provisions of this Chapter. Acts 1990, No. 827, §1; Acts 2001, No. 586, §1, eff. June 22, 2001.
LA Rev Stat § 6:1052 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1052. Account; verification of license; cancellation; overdrafts

RS 1052 - Account; verification of license; cancellation; overdrafts A. Before any financial institution opens an account for a seller of checks or person who transmits money, which is intended to cover demands made by receivers of checks or money transmitted, it shall require the licensee seeking to open the account to present the license required by R.S. 6:1033, provided that the financial institution has actual knowledge that the person opening the account intends to engage in the sale of checks or money transmission. After being presented the license and before opening such account, the financial institution shall, within seventy-two hours, verify with the commissioner that the license is valid. B. If the licensee closes any such account, the financial institution shall, within seventy-two hours, notify the commissioner of such closure. C. If the licensee incurs overdrafts of at least one thousand dollars for a period of five consecutive days, and there is no agreed line of credit with the financial institution to cover these overdrafts, the financial institution shall, within seventy-two hours, notify the commissioner of the amount of such overdrafts. Acts 1990, No. 807, §1; Acts 2001, No. 586, §1, eff. June 22, 2001.
LA Rev Stat § 6:1053 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1053. Significant developments; licensee's duty to report to commissioner

RS 1053 - Significant developments; licensee's duty to report to commissioner A. It shall be the duty of a licensee to report to the commissioner, by certified mail, the following significant developments within fifteen days of the occurrence: (1) Filing a petition under either Chapter 7 or Chapter 11 of the United States Bankruptcy Code. (2) The commencement of any license suspension or revocation proceeding, either administrative or judicial, by any state, the District of Columbia, or any United States territory in which the licensee has been issued a license to transmit money or sell checks. (3) The indictment of an individual licensee, a partner if the licensee is a partnership, association, or, if the licensee is a corporation, the indictment of an officer or director. (4) The conviction, guilty plea, or plea of nolo contendere, if the court adjudicates the nolo contendere pleader guilty, of an individual licensee, a partner if the licensee is a partnership, association, or, if the licensee is a corporation, the conviction, guilty plea, or adjudication of guilt of an officer or director. B. Failure of the licensee to report any significant development enumerated in this Section shall constitute grounds for revocation of the license. Acts 1991, No. 812, §1, eff. July 22, 1991; Acts 2001, No. 586, §1, eff. June 22, 2001.
LA Rev Stat § 6:1081 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1081. Short title

RS 1081 - Short title This Chapter shall be known and may be cited as the "Louisiana Secure and Fair Enforcement of Mortgage Licensing Act of 2009" or the "Louisiana S.A.F.E. Residential Mortgage Lending Act". Acts 1999, No. 1098, §1, eff. July 9, 1999; Acts 2009, No. 522, §1, eff. July 31, 2009.
LA Rev Stat § 6:1082 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1082. Purpose

RS 1082 - Purpose The Legislature of Louisiana does hereby declare that it is in the best interest of the citizens of the state to protect consumers in the most important financial investment most will make, the purchase of a home, by requiring the licensing and regulation of residential mortgage lenders, brokers, originators, and servicers. The purpose of this Chapter is to promote the safety and welfare of the people of the state by providing for regulatory oversight and by establishing educational requirements in a professional field in which unqualified individuals may injure or mislead the public. Acts 1999, No. 1098, §1, eff. July 9, 1999; Acts 2009, No. 522, §1, eff. July 31, 2009; Acts 2014, No. 260, §1, eff. June 30, 2014.
LA Rev Stat § 6:1084 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1084. Prohibition

RS 1084 - Prohibition No person, directly or indirectly, shall engage in a residential mortgage lending activity in this state without complying with the provisions of this Chapter or the rules or regulations promulgated pursuant to this Chapter. Acts 1999, No. 1098, §1, eff. July 9, 1999.
LA Rev Stat § 6:1085 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1085. Rules and regulations

RS 1085 - Rules and regulations The commissioner shall promulgate rules and regulations in accordance with the Administrative Procedure Act as may be necessary to effectuate the purposes, administration, and enforcement of the provisions of this Chapter. Acts 1999, No. 1098, §1, eff. July 9, 1999.
LA Rev Stat § 6:1086 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1086. Licensure requirement

RS 1086 - Licensure requirement A. Except as otherwise provided in Subsection B of this Section, beginning on July 31, 2009, and unless otherwise exempt pursuant to this Chapter, no person shall engage in any residential mortgage lending activity in this state without first obtaining and maintaining annually the following: (1) A license and registration as a mortgage loan originator, or a license as a mortgage lender, mortgage broker, or mortgage servicer. (2) A unique identifier. B. Until July 31, 2010, the provisions of Subsection A of this Section shall not apply to the following: (1) A person whose residential mortgage lending activities were not subject to the licensing requirements pursuant to this Chapter on July 30, 2009. (2) A person engaged in residential mortgage lending activities pursuant to an exemption provided by this Chapter on July 30, 2009. C. Beginning July 31, 2009, all persons to whom a license was issued and in effect pursuant to this Chapter on July 30, 2009, shall be required to meet all the requirements of this Chapter in order to obtain a renewal of a license issued pursuant to this Chapter. D. For purposes of Subsection A of this Section, a person shall not be considered to be engaged in residential mortgage lending activity in this state unless that person is regularly engaged in residential mortgage lending activity. This Subsection shall have no effect if the federal Consumer Financial Protection Bureau determines that the provisions of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (P.L. 110-289) do not allow an exception from coverage for those not so regularly engaged. Acts 1999, No. 1098, §1, eff. July 9, 1999; Acts 2003, No. 875, §1; Acts 2009, No. 522, §1, eff. July 31, 2009; Acts 2012, No. 199, §1, eff. May 22, 2012; Acts 2014, No. 260, §1, eff. June 30, 2014.
LA Rev Stat § 6:1088.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1088.1. Licensing system; authorization; fees; required use

RS 1088.1 - Licensing system; authorization; fees; required use A. Consistent with both the public interest and the purposes of this Chapter, the commissioner shall have the authority to take all action regarding the licensing system, in his discretion as he deems necessary and appropriate, including but not limited to all of the following: (1) Facilitating and participating in the establishment and implementation of the licensing system. (2) Entering into agreements and contracts including information-sharing agreements. (3) Contracting with third parties to process, maintain, and store information collected by the licensing system. (4) Authorizing the licensing system to collect fingerprints on the commissioner's behalf in order to receive criminal history records from the Federal Bureau of Investigation. For purposes of this Section, the commissioner may use the NMLS&R as a channeling agent for requesting information from and distributing information to the Department of Justice or any other governmental agency. (5) Requiring persons engaged in activities that require licensure by the commissioner to utilize the licensing system and to pay through the licensing system, in addition to those fees provided for in this Section for utilizing the licensing system, all other fees provided for by this Chapter. (6) Providing information to the licensing system. (7) Authorizing a third party to collect any fees associated with licensure on behalf of the commissioner. (8) Notwithstanding any other provision of law to the contrary, sharing any information or material which has been disclosed to the licensing system with any state or federal regulatory agencies having authority over residential mortgage lending activities. (9) Providing a process whereby a mortgage loan originator may challenge information entered into the NMLS&R regarding that mortgage loan originator. B. Persons engaged in activities that require licensure pursuant to this Chapter shall be required to pay all applicable fees to utilize the licensing system. C. After the date the licensing system is available for use, any filing or notification required by the commissioner shall be made through the online licensing system. D. Notwithstanding any other provision of law to the contrary, the licensing system is not intended to and does not replace or affect the commissioner's authority to grant or deny licenses. E. Before the end of each fiscal year, the commissioner shall submit the most recent annual report of the NMLS&R's proprietor, the State Regulatory Registry LLC or its successors, to the House Committee on Commerce, the Senate Committee on Commerce, Consumer Protections, and International Affairs, and the division of administration. Acts 2007, No. 36, §1, eff. June 18, 2007; Acts 2008, No. 225, §1, eff. June 15, 2008; Acts 2008, No. 929, §1, eff. July 15, 2008; Acts 2009, No. 522, §1, eff. July 31, 2009; Acts 2012, No. 220, §1, eff. May 22, 2012.
LA Rev Stat § 6:1088.2 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1088.2. Application for licensure; application and renewal fees

RS 1088.2 - Application for licensure; application and renewal fees  A. The application shall be accompanied by the following nonrefundable fees as determined by and paid as directed by the commissioner:  (1) In the case of an application for a license to act as a mortgage lender, mortgage broker, mortgage servicer, or combination of any, a license fee in an amount not to exceed five hundred dollars.  (2) In the case of an application for a license to act as an originator, a license fee in an amount not to exceed two hundred dollars.  (3) An annual license renewal fee for each person licensed as a mortgage broker, mortgage lender, or mortgage servicer in an amount not to exceed four hundred dollars.  (4) An annual license renewal fee for each originator in an amount not to exceed two hundred dollars.  B. If the applicant has multiple office locations, all such locations may be covered by a single license by including in the license application the address of each office operated by the applicant and the name and license number of the individual licensees engaging in residential mortgage lending activities at that location.  Acts 2009, No. 522, §1, eff. July 31, 2009; Acts 2014, No. 260, §1, eff. June 30, 2014; Acts 2015, No. 324, §1.
LA Rev Stat § 6:1088.4 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1088.4. Information reporting

RS 1088.4 - Information reporting Notwithstanding any other provision of law to the contrary, except for R.S. 6:103(B)(16), R.S. 6:103(J), and R.S. 6:1088.1, the commissioner shall furnish to the NMLS&R the following: (1) Information as required by the P.L. 110-289, as amended, including but not limited to, the employment history of and publicly adjudicated disciplinary and enforcement actions and consumer complaints against mortgage loan originators. (2) Information regarding publicly adjudicated disciplinary and enforcement actions and consumer complaints against mortgage loan brokers or mortgage lenders engaging in activities subject to this Chapter. (3) Regularly report violations of this Chapter, as well as enforcement actions, and other relevant information to the NMLS&R. Acts 2009, No. 522, §1, eff. July 31, 2009.
LA Rev Stat § 6:1089 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1089. Name or location changes and closures; fees

RS 1089 - Name or location changes and closures; fees A.(1) No residential mortgage lender, originator, or servicer shall conduct the residential mortgage lending activities provided for in this Chapter under any name other than the one stated in its current record of information in the licensing system. (2) A residential mortgage lender or servicer shall notify the commissioner of a change in the location or name of the business or the addition of offices by submitting such information to the licensing system prior to the change. A notice of change of location or name or addition of offices shall be accompanied by a filing fee of one hundred dollars. (3) A residential mortgage lender or servicer shall notify the commissioner of the closing of any office by submitting such information to the licensing system and within thirty days of such closure. B.(1) Whenever the employment of an originator changes, whether by the originator's action or otherwise, the originator shall give notice of the change of employment to the commissioner by submitting such information to the licensing system within thirty days of such change. The notice shall be accompanied by a filing fee of fifty dollars. (2) Whenever the employment of an originator employed by a mortgage broker or mortgage lender changes, whether by the originator's change of employment or otherwise, the employer, unless exempted from the provisions of this Part, shall give notice of the change in employment to the commissioner by submitting such information to the licensing system within thirty days of the change. (3) Failure to notify the commissioner through the NMLS&R within the prescribed time as required by this Section shall result in a one hundred dollar late notification fee. Acts 1999, No. 1098, §1, eff. July 9, 1999; Acts 2000, 1st Ex. Sess., No. 34, §1, eff. April 14, 2000; 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 § 6:1092.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1092.1. Costs of appeal

RS 1092.1 - Costs of appeal Subject to the provisions of R.S. 13:4521 and 4581, all estimated costs of appeal, including those involved in the preparation of the administrative record of appeal, taken by a person in connection with an adverse ruling of an administrative law judge in connection with a hearing held pursuant to this Chapter and the Administrative Procedure Act, shall be paid by that person within sixty days of the filing of the petition for appeal in the district court. Failure to pay such estimated costs within the time prescribed shall result in the appeal being dismissed with prejudice and without the necessity of any further action being taken by any party. Acts 2006, No. 237, §1.
LA Rev Stat § 6:1092.2 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1092.2. Validity of judgment; execution

RS 1092.2 - Validity of judgment; execution Any final and definitive decision of an administrative law judge or, in the case such decision is appealed, a final judgment of an appellate court, issued in connection with any hearing held pursuant to this Chapter and the Administrative Procedure Act shall be considered a valid and final judgment that may be made executory in accordance with the Code of Civil Procedure. Acts 2006, No. 237, §1; Acts 2009, No. 522, §1, eff. July 31, 2009.
LA Rev Stat § 6:1093 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1093. Repealed by Acts 2010, No. 743, §22B, eff. July 1, 2010.

RS 1093 - Repealed by Acts 2010, No. 743, §22B, eff. July 1, 2010.
LA Rev Stat § 6:1094.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1094.1. Testing of loan originators

RS 1094.1 - Testing of loan originators A. In order to meet the written test requirement pursuant to R.S. 6:1088, an individual shall pass, in accordance with the standards established under this Section, a qualified written test developed by the Nationwide Mortgage Licensing System and Registry and administered by a test provider approved by the NMLS&R. B. A written test shall not be treated as a qualified written test for purposes of this Section unless the test adequately measures the applicant’s knowledge and comprehension in appropriate subject areas, including all of the following: (1) Ethics. (2) Federal law and regulations pertaining to mortgage origination. (3) Louisiana law and regulations pertaining to mortgage origination. (4) Federal and Louisiana law and regulations, including instruction on fraud, consumer protection, the non-traditional mortgage marketplace, and fair lending issues. C. Nothing in this Section shall prohibit a test provider approved by the NMLS&R from providing a test at the location of the employer of the applicant or any subsidiary or affiliate of the employer of the applicant, or any entity with which the applicant holds an exclusive arrangement to conduct the business of a mortgage loan originator. D.(1) An individual shall not be considered to have passed a qualified written test unless the individual achieves a test score of not less than seventy-five percent correct answers to questions. (2) An individual may retake a test three consecutive times with each consecutive taking occurring at least thirty days after the preceding test. (3) After failing three consecutive tests, an individual shall wait at least six months before taking the test again. (4) A licensed mortgage loan originator who fails to maintain a valid license for a period of five years or longer shall retake the test, not taking into account any time during which such individual is a registered mortgage loan originator. Acts 2009, No. 522, §1, eff. July 31, 2009.
LA Rev Stat § 6:1095 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1095. Scope

RS 1095 - Scope A.(1) The provisions of this Part shall govern and control the rates, fees, charges, and disclosures applicable to residential mortgage loans. (2) Repealed by Acts 2001, No. 617, §3, eff. June 22, 2001. B. All fees and charges authorized under this Part, whether or not such fees and charges constitute or are considered to be loan finance charges, shall be deemed to be material to the determination of the interest rate for purposes of exportation to borrowers residing in other states under the most favored lender doctrine of federal law. C. As a general rule of construction, comparable rules, definitions, and principles under the Federal Real Estate Settlement Procedures Act and Regulation X of the office of the secretary of the Department of Housing and Urban Development, the Federal Truth in Lending Act, and Regulation Z of the Board of Governors of the Federal Reserve System may be looked to for guidance in further interpreting terms and concepts that are not otherwise defined or specified in the provisions of this Part. Fees and charges that are not classified as or considered as finance charges under the Federal Truth in Lending Act and Regulation Z are not considered to be loan finance charges for the purposes of this Part. D. This Part shall not prohibit the imposition of fees and charges which are otherwise permissible under R.S. 6:548. Acts 1999, No. 1098, §1, eff. July 9, 1999; Acts 2000, 1st Ex. Sess., No. 34, §1, eff. April 14, 2000; Acts 2001, No. 617, §3, eff. June 22, 2001.