reglab/housing_qa huggingface dataset:
LA Rev Stat § 6:1189 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1189. Bonds of officers and directors

RS 1189 - Bonds of officers and directors A.(1) Every person appointed or elected to any position requiring the receipt, payment, management, or use of money belonging to a savings bank, or whose duties permit or require access to or custody of any of the savings bank's money or securities, or whose duties permit the regular making of entries in the books or other records of the savings bank, before assuming any duties shall become bonded in some trust or company authorized to issue bonds in this state, or in a fidelity insurance company licensed to do business in this state. (2) Each such bond shall be on a form and in an amount to be approved by the commissioner of financial institutions, who may at any time require one or more additional bonds or an increase in the existing bond. Each such bond, payable to the savings bank, shall be an indemnity for any loss the savings bank may sustain in money or other property through any dishonest or criminal act or omission by any person required to be bonded, committed either alone or in concert with others. A true copy of every bond, including all riders and endorsements executed subsequent to the effective date of the bond, shall be filed with the commissioner. (3) Each bond shall provide that a cancellation thereof either by the surety or by the insured shall not become effective until thirty days after written notice shall have been given to the commissioner, unless he shall have approved such cancellation earlier. B. Nothing contained herein shall preclude the commissioner from proceeding against an association as provided in this Chapter should he believe that it is being conducted in an unsafe and unsound manner in that the form or amount of bonds so fixed and approved by the board of directors is inadequate to give reasonable protection to the savings bank. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1201 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1201. Minimum capital for incorporation or conversion

RS 1201 - Minimum capital for incorporation or conversion The commissioner of financial institutions shall not issue a certificate of authority for a capital stock savings bank unless he shall affirmatively determine that: (1) The amount of capital stock subscribed is sufficient for the safe and proper operation of the corporation, but in no event shall it be less than five hundred thousand dollars. (2) The proposed corporation has set aside sufficient permanent capital reserve for the safe and proper operation of the savings bank, but in no event less than twenty percent of its capital stock, and shall be credited to be paid-in surplus and may be used to offset losses from operations, except as the commissioner may waive this requirement for a financial institution converting to a savings bank. Subject to the approval of the commissioner, all of the financial institutions which meet minimum capital requirements as determined by the commissioner prior to the conversion to a state savings bank shall be deemed to meet the requirements of this Part. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1202 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1202. Types of capital; personal property

RS 1202 - Types of capital; personal property A. The capital of a stock savings bank shall be represented by capital stock and noncumulative perpetual preferred stock as authorized by the articles of incorporation, related paid-in surplus, undivided profits, retained earnings, and such other forms of capital deemed to be qualifying capital by the insurance corporation providing insurance of the savings bank's deposits. B. The capital of a mutual savings bank shall be represented by retained earnings and such other forms of capital deemed to be qualifying capital by the insurance corporation providing insurance of the savings bank's deposits. C. All shares and capital accounts shall be personal property in the hands of their holders and transferable as provided in this Chapter and the bylaws of the savings bank. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1203 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1203. Capital stock; nature

RS 1203 - Capital stock; nature Capital stock shall constitute a secondary reserve out of which losses shall be paid after all other available reserves have been exhausted and shall have a par value of one dollar each or such greater amount as the articles of incorporation may prescribe. These shares shall be: (1) Nonwithdrawable, except as provided in this Part relative to retirement or reduction of capital stock, until all liabilities of the savings bank have been satisfied in full, including payment of the withdrawal value of all deposit accounts; (2) Entitled to dividends only as provided in this Part concerning dividends; and (3) Issued only upon cash payment of not less than the par value thereof, or in connection with a merger, sale of all assets, or conversion, or as stock dividends as provided in the provisions of this Part relative to dividends. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1204 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1204. Capital stock; authorization of issuance

RS 1204 - Capital stock; authorization of issuance A savings bank may provide for the issuance of capital stock, either by its original articles of incorporation or by an amendment thereto authorized by this Chapter. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1205 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1205. Who may hold capital

RS 1205 - Who may hold capital Capital stock of a savings bank may be held: (1) By any individual in his own right, regardless of age or marital status, or by two or more such individuals; (2) By a fiduciary when authorized by law; (3) By a government or governmental instrumentality when authorized by law; and (4) By any corporation or other person when not prohibited by law. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1206 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1206. Capital maintenance

RS 1206 - Capital maintenance A. A savings bank whose overall financial condition is fundamentally sound shall maintain a minimum acceptable capital requirement as determined by the commissioner of financial institutions. B. When the commissioner determines that the financial condition or history, management, or earning prospects are not adequate, the commissioner may determine that a higher minimum capital level is required for such savings banks. C. A savings bank shall maintain total capital necessary to ensure the continuation of insurance of its deposit accounts by the insurance corporation. D. The board of directors shall establish and maintain such special reserves as are appropriate to provide for losses or liabilities; losses shall be charged to such reserves as are appropriate to reflect the true financial condition of the savings bank. E. Any savings bank not maintaining minimum capital shall be deemed to be operating in an unsafe and unsound condition and is subject to the imposition of such restrictions, sanctions, or penalties as provided for under this Title. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1207 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1207. Dividends; capital surplus required

RS 1207 - Dividends; capital surplus required A. The board of directors of a savings bank shall not declare or pay any cash dividends for a period of two years from the issuance of its certificate of authority or for such shorter period as the commissioner of financial institutions may prescribe. Thereafter, the board of directors of any savings bank may quarterly, semiannually, or annually declare cash dividends on its stock by complying with the provisions of this Part and the savings bank's articles of incorporation and bylaws. B.(1) No cash dividends may be declared or paid until a savings bank has surplus equal to twenty percent of the outstanding common stock of the savings bank, provided that surplus shall not be reduced below that twenty percent level by the payment of the cash dividend. (2) Prior approval of the commissioner shall be required if the total of all cash dividends declared and paid by the savings bank and amounts used to redeem or repurchase its stock during any one year would exceed the total of its net profits of that year combined with the net profits from the immediately preceding year. C. Each financial institution converting to a savings bank, before a declaration of a cash dividend on its common stock, shall transfer not less than one-half of its net profits of the preceding six months to its paid-in surplus until it shall have paid-in surplus equal to twenty percent of capital stock. D. For the purposes of this Part, "net profits" is defined as the remainder of all earnings from current operations plus actual recoveries on loans and investments and other assets, after deducting from the total thereof all current operating expenses, actual losses, paid and accrued dividends on preferred stock, if any, all federal and state taxes, and cash dividends on common stock paid or accrued over the calculation period. Negative net profits shall not be rounded to zero in this calculation. Acts 1990, No. 816, §1, eff. Sept. 1, 1990; Acts 2003, No. 56, §1, eff. May 23, 2003.
LA Rev Stat § 6:1208 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1208. Loans or discounts on capital stock

RS 1208 - Loans or discounts on capital stock Notwithstanding any other provisions of this Chapter, a savings bank shall not make a loan or discount on the security of or be the purchaser or holder of the shares of its own capital stock or preferred stock or of the security of its own debentures or evidences of its debt which are convertible to capital stock or are junior or subordinate in rights of payment to deposit or other liabilities of the savings bank, unless such security or purchase shall be necessary to prevent loss on a debt previously contracted in good faith; and such stock or evidence of indebtedness acquired or purchased shall, within one year from the time of its acquisition, be sold or disposed of at public or private sale. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1208.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1208.1. Applicability of statute, rules and regulations

RS 1208.1 - Applicability of statute, rules and regulations The provisions of R.S. 6:416 and the rules and regulations promulgated thereunder shall be applicable to savings banks chartered under the provisions of this Title in the same manner as they are applicable to state banks. Acts 1997, No. 1003, §1.
LA Rev Stat § 6:1221 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1221. Underwriting

RS 1221 - Underwriting A. No savings bank shall make any loan or investment authorized by this Part unless the savings bank first has determined that the type, amount, purpose, and repayment provisions of the loan or investment in relation to the borrower's or issuer's resources and credit standing support the reasonable belief that the loan or investment will be financially sound and will be repaid according to its terms and that the loan or investment is not otherwise unlawful. B. Each loan or investment that a savings bank makes or purchases, whether wholly or in part, shall be adequately underwritten, reviewed periodically, and reserved against as necessary in accordance with its payment performance, all in accordance with the provisions of this Chapter and the directives of the commissioner of financial institutions. C. Every appraisal or reappraisal of property which a savings bank is required to make shall be made as follows: (1) By a qualified appraiser designated by the board of directors. (2) In the case of an insured or guaranteed loan, by any appraiser approved by any lending, insuring, or guaranteeing agency of the United States or the state of Louisiana which insures or guarantees such loan, wholly or in part. (3) Each appraisal shall be in writing prepared at the request of the lender for the lender's use, disclose the market value of the security offered, contain sufficient information and data concerning the appraised property to substantiate the market value thereof, be certified and signed by the appraiser or appraisers, and state that such appraiser or appraisers have personally examined the described property, which appraisal shall be filed and preserved by the savings bank. D. Any violation of this Part shall constitute an unsafe or unsound practice. Anyone who knowingly violates any provision of this Part shall be subject to enforcement action or civil money penalties as provided for in this Title. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1224 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1224. Calculation of interest; postpayments and prepayments

RS 1224 - Calculation of interest; postpayments and prepayments A. In any contract or loan which is secured by a mortgage, deed of trust, or conveyance in the nature of a mortgage for the purpose of purchase or refinance of residential real estate, the interest which is computed, calculated, charged, or collected pursuant to such contract or loan, or pursuant to any regulation or rule promulgated pursuant to this Chapter, shall not be computed, calculated, charged, or collected for any period of time occurring after the date on which the total indebtedness, with the exception of late payment penalties, is paid in full. B.(1) For purposes of this Part, a "prepayment" shall mean the payment of the total indebtedness, with the exception of late payment penalties if incurred or charged, on any date before the date specified in the contract or loan agreement on which the total indebtedness shall be paid in full, or before the date on which all payments, if timely made, shall have been made. (2) In the event of a prepayment of the indebtedness which is made on a date after the date on which interest on the indebtedness was last computed, calculated, charged, or collected, but before the next date on which interest on the indebtedness was calculated, computed, charged, or collected, the lender may calculate, charge, and collect interest on the indebtedness for the period which elapsed between the date on which the prepayment is made and the date on which interest on the indebtedness was last computed, calculated, charged, or collected at a rate equal to 1/360 of the annual rate for each day which so elapsed, which rate shall be applied to the indebtedness outstanding as of the date of prepayment. The lender shall refund to the borrower any interest charged or collected which exceeds that which the lender may charge or collect pursuant to this Section. C. The provisions of this Section shall apply only to contracts or loans entered into on or after September 1, 1990. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1225 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1225. General loan contract provisions

RS 1225 - General loan contract provisions Each loan, and any agreement for securing the same, shall be evidenced by one or more written instruments, consistent with sound lending practices in the locality. Whenever recording of such an agreement is necessary to establish priority over the claim of any third party, the agreement shall be recorded. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1226 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1226. Modification agreements

RS 1226 - Modification agreements The savings bank at any time may enter into a written agreement with the borrower to modify, in any manner not inconsistent with the provisions of this Chapter, the terms of a loan as to the amount, time, or method of the payments to be made, the interest rate, and any other provision of the loan contract. The loan contract and the security instrument shall not be prejudiced by the making of any such modification, even if such a modification was not provided for in the loan contract. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1227 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1227. Sale, assignment, and servicing of loans and contracts

RS 1227 - Sale, assignment, and servicing of loans and contracts A. Any savings bank may sell any loan or a participating interest in a loan at any time, in the usual and regular course of business. Loans may be sold with or without recourse, except as may otherwise be provided by regulations of the commissioner. The commissioner may, by regulation, adopt limitations upon the sale of loans. The provisions of this Section shall not apply to the sale of loans to agencies of the United States or the state of Louisiana or such other government sponsored agencies as may be approved by the commissioner. B. A savings bank may contract to service a loan or a participating interest in a loan, but such a contract shall conform to the pertinent regulations which may be prescribed by the commissioner and shall require sufficient compensation to reimburse the savings bank for all expenses incurred under such contract. C. A savings bank may sell and assign with or without recourse any defaulted loan or defaulted real estate contract to any person eligible to purchase the same, for an amount not less than the fair cash market value thereof. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1228 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1228. Purchase of real estate at judicial sale

RS 1228 - Purchase of real estate at judicial sale A savings bank may purchase, hold, and convey real estate acquired at any sheriff's sale or other judicial sale, either public or private, upon which the savings bank has any good faith mortgage, lien, or other encumbrance, or in which the savings bank has any other interest. The savings bank thereafter may repair, improve, sell, convey, lease, mortgage, exchange, or otherwise dispose of real estate so acquired, in the best interests of the savings bank, without limitation. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1229 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1229. Immovable property; dealings

RS 1229 - Immovable property; dealings A. A savings bank may hold and convey real estate which it has acquired in satisfaction of debts previously contracted bona fide in the course of its business. B. A savings bank may, in accordance with regulations adopted by the commissioner, make a loan or other extension of credit which would otherwise exceed the limits prescribed in R.S. 6:1235 when the purpose of the loan is to finance the sale of real estate acquired for a debt previously contracted or for use as bank premises. Such loans may only be made upon prior written approval of the commissioner. Acts 1990, No. 816, §1, eff. Sept. 1, 1990; Acts 1993, No. 277, §1, eff. June 2, 1993.
LA Rev Stat § 6:1229.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1229.1. Applicability of rules and regulations

RS 1229.1 - Applicability of rules and regulations  The provisions of R.S. 6:243 and 246, and the rules and regulations promulgated thereunder shall be applicable to savings banks in the same manner as they are applicable to banks.  Acts 1995, No. 248, §1, eff. June 14, 1995; Acts 2019, No. 16, §1.
LA Rev Stat § 6:1230 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1230. Purchases of real estate for office and rental purposes

RS 1230 - Purchases of real estate for office and rental purposes A. A savings bank may acquire and hold real estate in full ownership, or leaseholds on which a building or buildings exist or are to be erected, suitable for the transaction of the savings bank's business, and from portions of which, not required for the savings bank's own use, revenue may be derived; or may own all or part of the capital stock, shares, or interest in any corporation, association, or trust engaged solely in holding all or part of such real estate. B. Unless prior written approval of the commissioner is obtained, no savings bank may purchase, lease, or otherwise acquire a site for an office building or interest in real estate from any officer, director, employee, or stockholder holding more than ten percent of the aggregate capital stock of the savings bank or any firm, corporation, entity, or family in which any officer, director, employee, or stockholder holding more than ten percent of the aggregate capital stock of a savings bank has any direct or indirect interest. C. An acquisition prohibited by this Part includes the purchase, lease, or acquisition of property in which any of the persons described in this Part held any interest during a period of ten years preceding the purchase, lease, or acquisition, but does not include the acquisition of an option for such a site or real estate where the option is assignable and exercised by the savings bank in its own name and for its own benefit. Acts 1990, No. 816, §1, eff. Sept. 1, 1990; Acts 2001, No. 544, §1, eff. June 21, 2001.
LA Rev Stat § 6:1231 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1231. Usury law inapplicable

RS 1231 - Usury law inapplicable No interest premium, or interest on such interest premium, or charge which may accrue to a savings bank under the provisions of this Chapter shall be deemed to be usurious, and the same may be collected in the same manner as other debts in accordance with the laws of this state. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
LA Rev Stat § 6:1232 (2021)
2021 Louisiana Laws|Revised Statutes|Title 6 - Banks and Banking|§1232. Prohibited loans

RS 1232 - Prohibited loans No loan shall be made by any savings bank to any person owning ten percent or more of the capital stock or to any affiliated person, agent, or attorney of that savings bank either for himself or as agent, or as partner of another, except in accordance with laws and regulations to which national banks are subject, applicable to a similar transaction. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.