reglab/statecodes huggingface dataset:
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1283. Authority to form a bridge charter

RS 6:1283 - Authority to form a bridge charter
A. Any savings bank operating in Louisiana under this Chapter may form a phantom or interim subsidiary depository institution charter as a means to effect a corporate restructuring, a voluntary corporate change, or other transformation which does not in reality create an additional new depository institution, but which shall move insured liabilities from one corporate structure to another pursuant to a change in control, change in method of ownership, merger, or other charter change which results in no new net insurable deposits. Such a charter or institution shall be known as a phantom or interim institution, may become or receive the continuing or surviving depository institution, or may be a conduit through which an existing institution's assets, liabilities, fixtures, personnel, rights, and property of every type, are passed in order to effect a desirable corporate change. In connection with the formation of such an institution, an existing institution may amend, modify, or add to its articles of incorporation and bylaws to remove any depository function and to remove any deposits which would require insurance of accounts under R.S. 6:1135.
B. Application to form an entity under authority of this Part shall be made on forms to be prescribed by the commissioner. The commissioner may issue rules and regulations to govern the formation of, and the standards and supervisory consideration to be applied to, such institutions.
C. If a savings bank operating under this Chapter desires to apply for a permit to organize a new institution in order to facilitate or effect a corporate restructuring, to alter or relocate the institution's ownership, to effect a merger, sale, or purchase of assets, or in order to facilitate conversion to another charter, the commissioner shall require the filing of an application to create a transitional charter.
D. The application shall contain the following:
(1) The names and addresses of the organizers, with information as required by Part III of this Chapter.
(2) Any accompanying filings required by other regulatory authorities.
(3) A statement from the applicant's certified public accountant describing and analyzing the method to effect the transaction.
(4) A five-year plan for the resulting institution, and for any corporate remnant of the original institution regarding the disposition, acquisition, or expansion of assets, capital enhancement, disposition of earnings and profits, and geographic or other expansion or contraction.
(5) The purpose of the new entity, with documentation as required by the commissioner.
(6) Whether the core base deposits will be expanded in a manner that would require increased insurance of accounts and details for the appropriate filings.
(7) Ownership structure including any contemplated sales of stock of subsidiaries, affiliates, or parent companies as well as of the savings bank.
(8) Articles of incorporation and bylaws of the original, interim, and resulting institutions.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1284. Conversion of an existing financial institution to a savings bank

RS 6:1284 - 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.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1285. Emergency merger

RS 6:1285 - 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.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1286. Emergency sale of assets

RS 6:1286 - 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.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1301. Powers of commissioner

RS 6:1301 - 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.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1302. Examination

RS 6:1302 - 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.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1303. Examiners

RS 6:1303 - 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.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1304. Report of examination

RS 6:1304 - 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.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1305. Failure to comply with commissioner's report of examination; publication of reports

RS 6:1305 - 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.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1306. Orders of the commissioner

RS 6:1306 - 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.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1307. Recordkeeping and retention of records by a savings bank

RS 6:1307 - 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.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1308. Disclosure of examination reports and other reports

RS 6:1308 - Disclosure of examination reports and other reports
A. The commissioner may disclose information gathered by examination and through reports from a savings bank in accordance with R.S. 6:103.
B. The commissioner may promulgate regulations to allow disclosure to other than those cited herein but only for the following items:
(1) All fixed orders and opinions made in cases of appeals of the commissioner's actions.
(2) Statements of policy and interpretations adopted by the commissioner's office but not otherwise made public.
(3) Nonconfidential portions of application files, including applications for new charters. The commissioner may specify by rule as to what part of the files are confidential.
(4) Quarterly reports of income, deposits, and financial condition.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1309. Examination of data processing centers

RS 6:1309 - Examination of data processing centers
The commissioner may examine any data processing center that provides data processing or related services to a savings bank with the same frequency as the savings bank served.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1310. Annual directors' examinations

RS 6:1310 - Annual directors' examinations
The commissioner shall require at least once in each year that each savings bank cause its books, records, and accounts to be examined in accordance with a regulation promulgated by the commissioner.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990; Acts 2001, No. 530, §1.
NOTE: See Acts 2001, No. 530, §2, relative to effective date.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1311. Unsafe and unsound; orders of prohibition and removal

RS 6:1311 - Unsafe and unsound; orders of prohibition and removal
A. The violation of any of the following provisions of this Part is deemed to be an unsafe and unsound practice and creates an unsafe and unsound condition in the savings bank. The savings bank or the institution-affiliated party responsible for such violation may be subject to the assessment of civil money penalties and other enforcement powers of the commissioner as specified in this Title.
B. Continued violation of any such provisions after the commissioner issues formal notice to correct, shall subject the directors of the savings bank at fault to immediate removal from the board and to a permanent order of prohibition from direct or indirect participation in the affairs of any financial institution governed by Title 6 of the Louisiana Revised Statutes of 1950.
C. The commissioner shall promulgate rules and regulations to implement this Part.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1312. Cease and desist proceedings

RS 6:1312 - Cease and desist proceedings
A. If, in the opinion of the commissioner, or in the opinion of any federal banking agency which provides complete and documented evidence to the commissioner, an officer, director, or controlling stockholder of a savings bank operating under this Chapter or a subsidiary or an affiliate of an institution operating under this Chapter, is engaging in, has engaged in, is about to engage in, or is conspiring to engage in one or more unsafe or unsound practices in conducting the institution's business; is, has, or is about to violate an applicable law, regulation, or a directive of the commissioner or of the Federal Deposit Insurance Corporation; or has not complied with a condition imposed in writing by the commissioner or the Federal Deposit Insurance Corporation, or of any court of law, then the commissioner, may, in his discretion, issue to the violator notice of charges resulting from the violation.
B. Such notice of charges shall factually specify the act or violations committed; specify the law, rule, order, decree, directive, or condition violated; specify necessary curative measures and a time within which to cure; and impose any penalties or sanctions mandated by law or regulation.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1313. Procedure upon the impairment of capital

RS 6:1313 - Procedure upon the impairment of capital
A. If the commissioner finds from a report of examination or such other required report of a savings bank that the capital is impaired, he shall, in his discretion, institute whichever of the following procedures is appropriate:
(1) Direct that the board of directors either:
(a) Require the stockholders to contribute an amount at least sufficient to eliminate the impairment; or
(b) Reduce the par value of the capital stock in at least the amount of the impairment and allocate such reduction to undivided profits or reserves to absorb the loss which created the impairment.
(2) Take custody of the savings bank under Part X of this Chapter, establish a conservatorship, and proceed to merge, sell, or otherwise dispose of the savings bank in a manner which will remove the capital impairment, remove operating losses, and restore compliance with all capital requirements.
(3) Declare the stock worthless, and order the directors to cancel the stock or order the directors to sell, merge, or otherwise restructure the savings bank in a manner which will remove the capital impairment, eliminate operating losses, and restore compliance with all capital requirements.
B. The commissioner may promulgate rules to implement this procedure if necessary.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1314. Administrative review

RS 6:1314 - Administrative review
Any person affected by a decision of the commissioner may have such decisions reviewed only under and in accordance with the Administrative Procedure Act, and only if such person files with the commissioner, within ten days of receipt or service of a copy of a final decision sought to be reviewed, a written notice of intent to seek review under such law. The provisions of the Administrative Procedure Act shall apply and govern all proceedings for the judicial review of final administrative decisions of the commissioner under this Chapter.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1321. Conservatorships of savings banks

RS 6:1321 - Conservatorships of savings banks
The commissioner in his sole discretion may take custody of, and appoint a conservator for, the property, liabilities, books, records, business, and assets of every kind and character of any savings bank in accordance with the provisions of R.S. 6:381 et seq.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1322. Involuntary liquidation procedures

RS 6:1322 - Involuntary liquidation procedures
The commissioner, upon his appointment as conservator, may determine to liquidate a state savings bank and appoint a receiver in accordance with the provisions of R.S. 6:391 et seq.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1331. Affirmative action to correct conditions resulting from violations of law, regulations, orders, or from practices

RS 6:1331 - Affirmative action to correct conditions resulting from violations of law, regulations, orders, or from practices
The commissioner is hereby granted authority to issue orders under this Chapter, which orders shall require a savings bank or an institution-affiliated party to take affirmative action to correct any conditions resulting from any violations or practices cited with respect to the order. The order may require the savings bank or the institution-affiliated party to:
(1) Make restitution, provide reimbursement, indemnification, or guarantees for or against losses if:
(a) The savings bank or the institution-affiliated party was unjustly enriched or received direct or indirect personal benefit in connection with such violation or practice, or;
(b) The violation or practice involved a reckless disregard for applicable laws, regulations, or written agreements or written orders of the commissioner or other appropriate regulator.
(2) Restrict the savings bank's growth or institute appropriate operating restrictions.
(3) Dispose of any loan or asset involved.
(4) Rescind agreements or contracts.
(5) Submit candidates for future directors, employees, or officers, to the commissioner for approval.
(6) Take any other actions the commissioner deems necessary.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1332. Cease and desist; books and records

RS 6:1332 - Cease and desist; books and records
A. If the notice of charges and orders referred to in R.S. 6:1331 specifies that the books and records of a savings bank are so incomplete and inaccurate that the commissioner is unable to determine the financial condition of the savings bank, or is unable to determine the nature, details, or purpose of any transaction which may have a material effect on the savings bank's financial condition, then the commissioner shall issue an order which shall be immediately effective requiring:
(1) Specific, affirmative steps to restore, reconstruct, or adjust the books and records to accuracy and compliance.
(2) Rescission or cessation of transactions or activities which led to the incomplete or inaccurate condition of the books and records.
(3) The establishment of reserves for any losses which the commissioner finds were incurred due to the condition of the books and records.
B. This order shall be effective either until the commissioner's examination determines the condition has been corrected or is to be corrected or until the requirements for Part X of this Chapter are met.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1333. Removal and prohibition authority

RS 6:1333 - Removal and prohibition authority
A. In addition to other provisions of this Chapter concerning officers and directors, the commissioner may remove from any savings bank operating under this Chapter any officer, director, employee, or agent of such a savings bank if he finds that:
(1) Such person has directly or indirectly violated any law, regulation, or order including orders, conditions, and agreements between the savings bank and the commissioner or its federal regulators;
(2) Such person has breached his fiduciary or professional responsibilities to the savings bank; or
(3) Such person has similarly behaved toward any other insured depository institution or otherwise regulated entity or that the person or persons are the subject of any final order issued by the federal insurer, the Office of the Comptroller of the Currency, the Federal Reserve Board, a state financial institutions regulator, the Securities and Exchange Commission, or by a state or federal court of law.
B. By reason of the violation or breach described in Paragraphs (1) through (3) of Subsection A of this Section, the commissioner may serve upon any party a written notice of the commissioner's intention to remove or suspend the party from office in the savings bank or to prohibit any further participation by the party, in any manner, in the conduct of the affairs of any insured depository institution if he finds that:
(1)(a) Any savings bank, other insured depository institution, or other regulated entity has or probably will suffer financial loss or other damage;
(b) The interests of the savings bank's depositors or other insured depository institution's depositors have been or could be prejudiced; or
(c) Such party has received financial gain or other benefit by reason of such violation in breach; and
(2) Such violation or breach involves personal dishonesty on the part of such party or demonstrates willful or continuing disregard by such party for the safety and soundness of such savings bank or other insured depository institutions.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1334. Industry-wide prohibition

RS 6:1334 - Industry-wide prohibition
A. In general, except as provided in regulations by the commissioner, any person who has been removed or suspended from office in a savings bank operating under this Chapter or prohibited from participating in the conduct of the affairs of a savings bank operating under this Chapter shall not, while such order is in effect, continue or begin to hold any office in or participate in any manner in the conduct of the affairs of any financial institution regulated by the state of Louisiana.
B. Any violation of Subsection A of this Section by any person who is subject to an order described in that Subsection shall be treated as a violation of the order.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1335. Institution-affiliated party

RS 6:1335 - Institution-affiliated party
As used in this Chapter, the term "institution-affiliated party" means:
(1) A director, officer, employee, agent, or controlling stockholder of a savings bank operating under this Chapter.
(2) A person who has filed or is required to file a change-in-control notice with the commissioner.
(3) A shareholder of, consultant to, joint venture partner of, or an independent contractor, including accountants, appraisers, and attorneys, for a savings bank.
(4) Any other person who participates in a significant way in the affairs of a savings bank under this Chapter.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1336. Civil money penalties

RS 6:1336 - Civil money penalties
A. The commissioner may assess and the savings bank in question shall pay to the commissioner a civil money penalty of not more than one thousand dollars for each day during which the violation continues, beginning upon the day the violation first occurred, whenever the commissioner finds that a savings bank operating under this Chapter, or an institution-affiliated party has:
(1) Violated any law or regulation;
(2) Violated any final order of the commissioner or of any federal banking regulator;
(3) Violated any condition imposed in writing by the commissioner in connection with the approval of an application or other request by such savings bank; or
(4) Violated any written agreement between the commissioner and the savings bank.
B. The commissioner shall assess and the savings bank or institution-affiliated party shall pay to the commissioner a civil money penalty of no more than five thousand dollars for each day during which the violation, practice, or breach continued, beginning with the first day of occurrence, whenever the commissioner finds that a violation listed in Subsection A of this Section was part of a pattern of misconduct that caused loss or is likely to cause loss to the savings bank or resulted in gain or benefit to the savings bank or institution-affiliated party, and that the violation also was accompanied by behavior which:
(1) Recklessly engaged in any unsafe or unsound practice in conducting the business of the savings bank; or
(2) Involved the breach of any fiduciary duty.
C. Whenever the violation, practice, or breaches of duty described in Subsections A and B of this Section are committed knowingly and whenever such commission knowingly and recklessly causes substantial loss to a savings bank operating under this Chapter or results in substantial pecuniary gain or benefit to the party who committed the practice, breach, or violation, then the commissioner may assess, and the savings bank or institution-affiliated party shall pay to the commissioner, a civil money penalty of:
(1) Ten thousand dollars per day if the payor is an institution-affiliated party; or
(2) The lesser of ten thousand dollars per day or one percent of the savings bank's total assets when the payor is a savings bank.
D. The commissioner shall assess the civil money penalties described in this Section in accordance with R.S. 6:121.1.
E. The commissioner may compromise, modify, or remit any penalty which he may assess or has already assessed. In determining the amounts of penalties to assess, the commissioner shall consider:
(1) The financial resources and good faith of the savings bank or institution-affiliated party.
(2) The gravity of the violation, practice, or breach.
(3) Any history of previous violations.
(4) Other matters as justice and fundamental fairness may require.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1337. Effect of termination or resignation of an institution-affiliated party

RS 6:1337 - Effect of termination or resignation of an institution-affiliated party
The resignation, termination of employment, or separation of an institution-affiliated party from the savings bank affected by such party's activities, shall not affect the jurisdiction and authority of this Part and of the commissioner to issue any appropriate notice or to take any appropriate action if the notice is served within five years of the party's ceasing to be an institution-affiliated party of the savings bank in question.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1338. Unauthorized participation by convicted individual

RS 6:1338 - Unauthorized participation by convicted individual
A.(1) Any person who has been convicted of any criminal offense involving dishonesty or a breach of trust shall not participate, directly or indirectly, in any manner in the conduct of the affairs of a savings bank, except with the prior written consent of the commissioner.
(2) A savings bank shall not permit such participation, except with the prior written consent of the commissioner.
B. Whoever knowingly violates Subsection A of this Section shall be fined not more than ten thousand dollars for each day that such prohibition is violated or shall be imprisoned for not more than five years, or both.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1339. Perjury; false statements

RS 6:1339 - Perjury; false statements
A. Any person who knowingly makes, causes, or allows someone else to cause to be made or to make a false statement, under the oath required by this Chapter, on any report or statement required by the commissioner, or to the commissioner, shall be subject to the provisions of R.S. 6:1336.
B. When financial loss to a savings bank is caused by such statements, the penalties shall be commensurate with that loss.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1340. False advertising

RS 6:1340 - False advertising
A. No savings bank shall issue, publish, or cause or permit to be issued or published, any advertisement which, in part or taken as a whole, is in any way false or misleading.
B. The commissioner may require any association to file a true copy of the text of any advertisement in the office of the commissioner within two days after the issuance, circulation, or publication of such advertisement. All of the powers of this Part shall be available to the commissioner as the result of an association's violation of this Part.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1341. Prohibitive practices; additional

RS 6:1341 - Prohibitive practices; additional
In addition to the provisions contained in R.S. 6:1337, 6:1338, 6:1339, and 6:1340, all of the provisions contained in Chapter 4 of this Title shall be applicable to all savings banks chartered under this Chapter as of September 1, 1990.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1351. Professional responsibility

RS 6:1351 - Professional responsibility
Unless otherwise agreed in writing, attorneys licensed to practice law in this state and their law firms and licensed certified public accountants and their firms, while acting in the course and scope of providing legal, accounting, auditing, consulting, and other professional services to federally insured financial institutions, shall have no greater duty of professional responsibility to the institution, its shareholders, depositors, customers, creditors, or insurers than that required of attorneys under the Rules of Professional Conduct, Article XVI of the Appendix to Chapter 4 of Title 37 of the Louisiana Revised Statutes of 1950, and with respect to certified public accountants, the duty of professional responsibility shall be that established by generally accepted accounting principles and generally accepted auditing standards.
Acts 1991, No. 602, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1352. Professional liability

RS 6:1352 - Professional liability
A. An attorney or licensed certified public accountant providing legal, accounting, auditing, consulting, or other professional services to a federally insured financial institution shall only be liable for actions or inactions based upon traditional concepts of legal or accounting malpractice judged under accepted standards within the locality where such attorney or certified public accountant practices.
B. The Rules of Professional Conduct for attorneys and any rule promulgated by the State Board of Certified Public Accountants of Louisiana pursuant to R.S. 37:75 shall not be viewed as formulated malpractice rules and failure to comply with the requirements of those rules shall not be considered malpractice per se.
Acts 1991, No. 602, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1353. Officers and directors

RS 6:1353 - Officers and directors
Attorneys or licensed certified public accountants serving as officers or directors, or both, of federally insured financial institutions while acting in that capacity are held to the same standard of fiduciary responsibility and liability as other non-attorney or non-certified public accountant officers and directors of the institution.
Acts 1991, No. 602, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1354. Imposition of greater standards; liability

RS 6:1354 - Imposition of greater standards; liability
Any person who unsuccessfully attempts to impose a greater standard of responsibility or liability than that provided by this Chapter shall be liable for attorney fees incurred in the defense of such attempt and for damages, whether foreseeable or not.
Acts 1991, No. 602, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1362. Intent; scope; effect

RS 6:1362 - Intent; scope; effect
A. It is the intent of the legislature in enacting this Chapter to enhance the safety of persons using automated teller machines and night depositories in Louisiana without discouraging the location of such facilities in places that are convenient to users or placing unreasonable burdens upon operators of such facilities. Since decisions concerning these facilities are inherently subjective and are necessarily influenced by many factors and conditions beyond the control of operators of these facilities, the standards provided in this Chapter are intended to be the only standards of care and duty applicable to such operators.
B. The legislature hereby recognizes the need for uniformity in the establishment of automated teller machine and night depository user safety standards. Therefore, this Chapter shall supersede and preempt any rule, regulation, code, statute, or ordinance of any political subdivision or other unit of local government or any other applicable standard with regard to these facilities.
Acts 1995, No. 588, §1, eff. July 1, 1996.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1363. Definitions

RS 6:1363 - Definitions
As used in this Chapter, the following terms shall have the meanings specified in this Section:
(1) "Access area" means an outdoor area which is in the control of an operator and which is within a fifty-foot radius of an access facility. In the event that an access facility is located within ten feet of the corner of the building and is generally accessible from the adjacent side, the access area shall include the first forty constructed feet of the adjacent side of the building in the control of the operator.
(2) "Access facility" means an automated teller machine or a night depository.
(3) "Account" means a demand, checking, savings, or other deposit account, whether commercial or consumer, held directly by an operator.
(4) "Automated teller machine" means an electronic information processing device located in this state which accepts or dispenses cash in connection with an account or credit card. This term shall not include a device used solely to facilitate check guarantees or check authorizations or a device which is used in connection with the acceptance or dispensing of cash on a person-to-person basis, such as by a store cashier.
(5) "Control" means to have actual authority to direct the circumstances of use of an access area or access facility, including its maintenance, lighting, and landscaping.
(6) "Customer" means a person or other legal entity who owns an account provided by an operator whose access facility is being used.
(7) "Footcandle" means the light incident measured on a horizontal plane thirty-six inches above ground level. One footcandle is equal to one lumen per square foot.
(8) "Hours of darkness" means the period that commences thirty minutes after sunset and ends thirty minutes before sunrise.
(9) "Night depository" means a slot or compartment located in this state and provided by an operator to facilitate the delivery of cash or other negotiable instruments into a customer's account during non-business hours of operation.
(10) "Operator" means a state or national bank, savings association, credit union, industrial loans company, mutual savings bank, or other business entity that controls an access facility or access area.
Acts 1995, No. 588, §1, eff. July 1, 1996.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1364. Compliance required

RS 6:1364 - Compliance required
A. Each operator shall substantially comply with the provisions of R.S. 6:1365 through 1367 and shall also adopt procedures for the periodic evaluation of access facilities and access areas in his control. However, compliance shall create no duty to relocate or cause structural modification to existing access facilities.
B. An operator who has initially complied with the provisions of R.S. 6:1365 through 1367 and has adopted and implemented procedures to semiannually verify compliance with such provisions shall not be deemed to be in violation of this Chapter unless both of the following conditions exist:
(1) The operator has actual or constructive knowledge of the violation. For purposes of this Paragraph, constructive knowledge shall mean the existence of facts which infer actual knowledge.
(2) The operator has failed to remedy the violation within thirty days of such knowledge.
C. Substantial compliance with the provisions of this Chapter shall fulfill any duty of an operator to protect against the risk of harm to any user of an access facility or access area covered by this Chapter, and shall be a bar to any claim for damages arising from the use of access facilities and access areas covered by this Chapter, provided that the operator was not grossly negligent or did not act intentionally.
Acts 1995, No. 588, §1, eff. July 1, 1996.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1365. Lighting standards

RS 6:1365 - Lighting standards
The operator of an access facility shall provide lighting during hours of darkness in an access area in his control by meeting both of the following standards during such hours:
(1) There shall be a minimum of ten footcandles at the face of the access facility and extending in an unobstructed direction outward five feet.
(2) There shall be an average of two footcandles within the access area.
Acts 1995, No. 588, §1, eff. July 1, 1996.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1366. Landscape and vegetation standards

RS 6:1366 - Landscape and vegetation standards
The operator of an access facility shall provide in an access area in his control for landscaping which promotes reasonable visibility of persons within such area by meeting each of the following standards:
(1) No bushes or shrubbery exceeding one foot in height shall be planted within a fifteen-foot radius of the access facility.
(2) Bushes and shrubbery outside the fifteen foot radius shall be maintained in a manner which promotes reasonable visibility of persons within the access area.
(3) Trees within the access area shall be trimmed upward to a minimum of six feet.
Acts 1995, No. 588, §1, eff. July 1, 1996.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1367. Notice of customer safety information

RS 6:1367 - Notice of customer safety information
An operator shall provide to its customers a notice containing information on basic safety precautions to be employed while using access facilities. Such information shall be furnished by personally delivering or by mailing such notice to each customer at the last address to which statements on his account have been sent. Only one notice need be provided for each account. No operator shall be under any duty to provide such notice to a user of an access facility who is not his customer.
Acts 1995, No. 588, §1, eff. July 1, 1996.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:1371. Legislative intent

RS 6:1371 - Legislative intent
It is the intent of the legislature in enacting this Chapter to allow covered financial institutions the discretion to take actions to assist in detecting and preventing financial exploitation without liability. The legislature recognizes that covered financial institutions are in a unique position by conducting financial transactions on behalf of and at the request of their customers. Covered financial institutions have duties imposed by contract and duties imposed by both federal and state law to conduct financial transactions requested by their customers faithfully and timely in accordance with the customer's instructions. Further, covered financial institutions do not have a duty to contravene the valid instructions of their customers, nor to prevent criminal activity directed at their customers, and nothing in this Chapter creates such a duty.
Acts 2018, No. 434, §1, eff. October 1, 2018.