reglab/statecodes huggingface dataset:
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:414. Use of certain terms by persons other than financial institutions prohibited

RS 6:414 - Use of certain terms by persons other than financial institutions prohibited
A. No person other than a financial institution shall in any manner directly or indirectly in written or verbal advertising or other communication purport to offer a savings account, savings deposit, certificate of deposit, savings certificate, money market certificate, share account, share draft account, passbook account, checking account, or withdrawals from such accounts. This provision, however, shall not be construed to prohibit any person from describing in verbal or written advertisement in this state the investment services it is offering, provided that such advertisement does not mislead the public by implying that such investment services are the equivalent of those stated above.
B. No person other than a financial institution or other person subject to the general supervision or regulation of the commissioner pursuant to this Title or Title 9 of the Louisiana Revised Statutes of 1950 shall engage in business as a bond for deed escrow agent on or after November 1, 1993, unless such person has first obtained a license pursuant to regulations issued by the commissioner. A person engaged in business as such an agent on January 1, 1993, may continue to be so engaged and shall have until December 31, 1993, to obtain a license in conformity herewith. The commissioner shall promulgate such rules and regulations as deemed necessary to implement this provision.
C. Any person who is found guilty of a violation of any of the provisions of this Section shall be punishable by a fine of not more than one thousand dollars, and each day of violation shall constitute a separate offense.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 1993, No. 932, §1, eff. Sept. 1, 1993.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:414.1. Derogatory statements regarding financial condition of financial institution prohibited; penalty

RS 6:414.1 - Derogatory statements regarding financial condition of financial institution prohibited; penalty
A. It shall be unlawful for any person maliciously to make, circulate, or transmit to another person any statement, rumor, or suggestion which is directly or by inference derogatory as to the financial condition or which affects the solvency of any financial institution doing business in this state, or to counsel, aid, procure, or induce another to make, circulate, or transmit any such statement or rumor.
B. Truth of the statement made shall be a defense to the crime set forth in this Section.
C. Whoever violates this Section shall be fined not more than five hundred dollars or imprisoned for not more than six months, or both.
Acts 1986, No. 371, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:416. Loan on pledge of own stock and pledge of own stock prohibited

RS 6:416 - Loan on pledge of own stock and pledge of own stock prohibited
A. Except as otherwise provided by rule or regulation promulgated by the commissioner, no loan shall be made by any bank to any borrower on pledge of the bank's own stock or the stock of its parent company. Except as provided in R.S. 6:263(C) and Subsection B of this Section, a state bank may not purchase or redeem any of its own stock or the stock of its parent company.
B. A state bank may acquire its own stock or the stock of its parent company for a debt previously contracted, in which case the stock shall not be held for more than one year, subject to extension by the commissioner.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 1991, No. 371, §1, eff. July 6, 1991; Acts 1997, No. 1003, §1; Acts 2001, No. 529, §1, eff. June 21, 2001; Acts 2003, No. 570, §1, eff. June 27, 2003.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:417. Unlawful solicitation or acceptance of gratuity or compensation by officer, director, or employee

RS 6:417 - Unlawful solicitation or acceptance of gratuity or compensation by officer, director, or employee
A. No officer, director, or employee of any bank shall solicit, accept, or agree to accept, directly or indirectly, from any person other than the bank any gratuity, compensation, or other personal benefit for any action taken by the bank or for endeavoring to procure any such action.
B. Each officer, director, or employee who violates or consents to a violation of this Section shall be fined not more than one thousand dollars.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:418. Pledge of assets to secure deposits; exceptions; penalty

RS 6:418 - Pledge of assets to secure deposits; exceptions; penalty
A. No bank shall pledge or hypothecate any of its assets for the purpose of securing any depositor or for the purpose of furnishing an indemnity bond to secure any depositor from any loss that might be occasioned to the depositor by reason of the failure or inability of the bank to pay in full all of its depositors.
B.(1) Nothing contained in Subsection A shall impair the rights of banks to secure deposits of public entities as they may be required to be secured from time to time by other provisions of law or to secure deposits pursuant to any federal deposit insurance program.
(2) Any bank or trust company acting as tutor, curator, executor, administrator, or other fiduciary, whose trust department makes deposits with its banking department of moneys for which it is responsible as tutor, curator, executor, administrator, or other fiduciary, may secure those deposits by delivering to its trust department, as collateral security, readily marketable bonds or other obligations or assets of that institution having and maintaining a market value at least equal to the amount of those deposits.
C. Any officer or employee who violates this Section shall be fined not less than one thousand dollars nor more than five thousand dollars.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 1986, No. 6, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:419. Receipt of deposits while insolvent

RS 6:419 - Receipt of deposits while insolvent
A. After an officer, director, or employee of a bank learns that the bank is insolvent, he shall not assent to the receipt of any deposit of which all or any portion thereof would not be insured by the Federal Deposit Insurance Corporation or the creation of any debt by the bank.
B. Whoever violates this Section shall be fined not more than one thousand dollars and shall be individually responsible for any such deposit or debt.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 1987, No. 108, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:420. False entries or reports; failure to exhibit books; reporting of criminal violations

RS 6:420 - False entries or reports; failure to exhibit books; reporting of criminal violations
A. No director, officer, or employee of any state bank shall knowingly make false entries or knowingly omit and neglect to make proper entries in any of the books of the bank for the purpose of deceiving the commissioner, the board of directors, or the public concerning the true condition of the bank.
B. No director, officer, or employee of any state bank shall knowingly concur in the making or publication of any false written report or false statement of its affairs or pecuniary condition or, having the custody and control of its books, refuse to exhibit or allow to be exhibited the books and records for inspection by the commissioner or any of his examiners. No director shall knowingly make or cause to be made any false entry on its books with intent to deceive or, having the custody and control of its books, willfully refuse or neglect to make any proper entry in the books of the bank.
C. No director, officer, or employee of any state bank shall knowingly fail or omit to file any report required by the provisions of this law.
D. If requested by the commissioner, each state-chartered financial institution, trust company, and money transmission or sale of checks licensee shall provide the Office of Financial Institutions with information relating to any report of suspicious activity a state-chartered entity may be required by federal law or regulation to submit to any federal agency. A state-chartered financial institution, trust company, or money transmission or sale of checks licensee shall incur no liability to its customer for compliance with the reporting requirements imposed herein or with the reporting requirements imposed by any federal law or regulation.
E. The commissioner in his sole discretion may refer to the attorney general or the district attorney of the appropriate jurisdiction any suspicious activity reported pursuant to this Section for further proceedings.
F. Any person who violates this Section shall be fined not less than one thousand dollars nor more than five thousand dollars.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 1986, No. 4, §1; Acts 1997, No. 42, §1; Acts 2008, No. 345, §1, eff. June 21, 2008.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:421. Overdrafts

RS 6:421 - Overdrafts
A. No officer of any state bank shall knowingly permit the aggregate amount of unsecured overdrafts due the bank to exceed ten percent of the sum of its capital stock and surplus. Overdrafts by parishes, municipalities, school boards, and other political subdivisions of the state which are under contract with the bank to make advances to those political subdivisions at a fixed rate of interest shall not be computed in calculating unsecured overdrafts for the purpose of this Section.
B. Any person who violates this Section shall be fined not more than one thousand dollars, and each day the violation continues shall be considered a separate violation.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:422. Excessive borrowings or repurchase agreements

RS 6:422 - Excessive borrowings or repurchase agreements
No state bank shall borrow additional sums as long as it has borrowed upon bills payable, rediscounts, or otherwise, or entered into repurchase agreements in any sum equal to three times its total capital less undivided profits. This prohibition shall not apply to borrowings from or repurchase transactions with a federal reserve bank or federal home loan bank.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 1995, No. 424, §1, eff. June 17, 1995.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:423. Check-cashing facility; location of business limited

RS 6:423 - Check-cashing facility; location of business limited
A. No license shall be granted for the operation of a check-cashing facility which will be situated within three hundred feet or less of any official gaming establishment or designated docking facility of a riverboat licensed to conduct gaming activities or gaming operations pursuant to Chapter 4 or 5 of Title 27 of the Louisiana Revised Statutes of 1950. As to official gaming establishments, this distance shall be measured as a person walks using the sidewalk from the nearest point of the property line of the official gaming establishment to the nearest point of the facility. As to docking facilities, this distance shall be measured in a straight line from the nearest point of the docking facility to the nearest point of the check-cashing facility.
B. The subsequent construction, erection, development, or movement of an official gaming establishment or designated docking facility which causes a check-cashing facility to be located within the prohibited distance shall not be cause for revocation, withholding, denial, or nonrenewal of a license.
C. For purposes of this Section, "check-cashing facility" means a facility whose primary business is the cashing of checks, drafts, money orders, or travelers checks for a fee. The term does not include a bank, trust company, savings bank, savings and loan association, or credit union.
D. The provisions of this Section shall not apply to an individual, partnership, unincorporated association, or corporation that charges no fee to the presenter or payor for the cashing of a check, draft, money order, or traveler's check.
Acts 1993, No. 743, §1; Acts 1999, No. 1208, §1, eff. July 9, 1999.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:452. Loan production offices; power of commissioner to adopt rules and regulations

RS 6:452 - Loan production offices; power of commissioner to adopt rules and regulations
A.(1) Any Louisiana state-chartered bank, savings bank, or savings and loan association, or a wholly owned operating subsidiary of such bank, savings bank, or savings and loan association, may open one or more loan production offices. Prior to opening a loan production office, the financial institution shall give written notice to the commissioner. Upon receiving the written notice, the commissioner has forty-five days to object. If the commissioner does not raise a timely objection, the financial institution may proceed with opening the loan production office. If the commissioner raises an objection, the commissioner shall, upon request, notify the financial institution in writing as to the nature of the objection.
(2) "Loan production office" means a physically manned location, other than the main office or branch office of a bank, savings bank, or savings and loan association, with the authority to conduct the solicitation and origination of applications for loans.
B. The commissioner shall authorize permissible activities of a loan production office by rule or regulation. The commissioner shall have the right, and is empowered to promulgate any rules, regulations, filing procedures, instructions, and fees that he deems necessary for the creation of loan production offices in the state.
C. Notwithstanding Subsections A and B of this Section, or any other law, rule, or regulation to the contrary, any state-chartered bank, savings bank, or savings and loan association may seek to conduct any activity at a loan production office that is a permissible activity for a loan production office of a national bank by complying with R.S. 6:242(C).
Acts 1992, No. 112, §1, eff. Sept. 1, 1992; Acts 2020, No. 183, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:453. Deposit production offices; power of commissioner to adopt rules and regulations

RS 6:453 - Deposit production offices; power of commissioner to adopt rules and regulations
A.(1) Any Louisiana state-chartered bank, savings bank, or savings and loan association, or a wholly owned operating subsidiary of such bank, savings bank, or savings and loan association, may open one or more deposit production offices. Prior to opening a deposit production office, the financial institution shall give written notice to the commissioner. Upon receiving the written notice, the commissioner has forty-five days to object. If the commissioner does not raise a timely objection, the financial institution may proceed with opening the deposit production office. If the commissioner raises an objection, the commissioner shall, upon request, notify the financial institution in writing as to the nature of his objection.
(2) "Deposit production office" means a physically manned location, other than the main office or branch office of a bank, savings bank, or savings and loan association, with the authority to solicit deposits, provide information about deposit products, and assist persons in completing application forms and related documents to open deposit accounts.
B. The commissioner shall authorize permissible activities of a deposit production office by rule or regulation. The commissioner shall have the right, and is empowered to promulgate any rules, regulations, filing procedures, instructions, and fees that he deems necessary for the creation of deposit production offices in the state.
C. Notwithstanding Subsections A and B of this Section, or any other law, rule, or regulation to the contrary, any state-chartered bank, savings bank, or savings and loan association may seek to conduct any activity at a deposit production office that is a permissible activity for a deposit production office of a national bank by complying with R.S. 6:242(C).
Acts 2020, No. 183, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:454. Combination of loan production office, deposit production office, and electronic financial terminal

RS 6:454 - Combination of loan production office, deposit production office, and electronic financial terminal
Any Louisiana state-chartered bank, savings bank, or savings and loan association may operate, at the same location, a loan production office, a deposit production office, and an electronic financial terminal, or any combination of these facilities, and it shall not be considered a branch. Prior to opening a combined loan production office, deposit production office, and electronic financial terminal, the financial institution shall give written notice to the commissioner. Prior to opening a combined loan production office and deposit production office, a financial institution may satisfy the notice requirements of R.S. 6:452 and 453 by giving one combined written notice to the commissioner. Upon receiving the written notice, the commissioner has forty-five days to object. If the commissioner does not raise a timely objection, the financial institution may proceed with opening the combined office. If the commissioner raises an objection, the commissioner shall, upon request, notify the financial institution in writing as to the nature of the objection.
Acts 2020, No. 183, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:501. Branch offices; authority

RS 6:501 - Branch offices; authority
A. All banks domiciled in this state may open one or more branch offices within or outside the state or may acquire one or more banks or any or all branches thereof, or both.
B. No branch office shall be opened without a certificate of authority from the commissioner.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 1986, No. 458, §2; Acts 1988, No. 39, §1, eff. June 10, 1988; Acts 2021, No. 17, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:504. Branches in foreign countries

RS 6:504 - Branches in foreign countries
A. All banks, savings banks, and trust companies having a paid-in capital and surplus of one million dollars or more may open and maintain branches in foreign countries, appoint correspondents, and establish agencies wherever they deem best for the purpose of purchasing, selling, and collecting bills of exchange. They may buy with or without endorsement, through such correspondents or agencies, bills of exchange or acceptances arising out of the actual commercial transactions. However, the exchange or acceptances purchased shall mature not later than ninety days from the date of purchase, exclusive of days of grace. They may also conduct all usual transactions authorized by this Title.
B. The designation of the branch, agency, or correspondent shall be approved by the commissioner and is subject to examination by him at the expense of the principal office in Louisiana. Expenses include traveling expenses incurred in making the examination as well as any usual examination fee charged by the commissioner.
C. These agencies may conduct all other transactions authorized by the banking laws set out in this Title.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:506. Certificate of authority for branch office

RS 6:506 - Certificate of authority for branch office
A. Repealed by Acts 1988, No. 39, §2, eff. June 10, 1988.
B. An application for a certificate of authority to open a branch office shall be in the manner and in the form required by the commissioner.
C.(1) To determine whether to grant a certificate of authority for the establishment of a proposed branch office the commissioner shall consider:
(a) The financial history and condition of the applicant.
(b) The distribution and adequacy of the capital structure of the applicant.
(c) The future earning prospects of the applicant.
(d) The management of the applicant.
(e) The convenience and needs of the community or area in which the proposed branch office is to be located and the ability of that community or area to support additional facilities.
(f) The corporate powers of the applicant.
(g) Any other factors required by rule to be considered.
(2) If the commissioner finds, after considering the above factors, that the public interest will not be served by permitting the establishment of the proposed branch office, he shall refuse to issue the certificate of authority.
D. A bank may acquire a business engaging in any of the banking powers described in R.S. 6:242(A) and operate the facility as a branch upon submission of an application for a certificate of authority to the commissioner and approval thereof as provided herein. The facility may be operated as a branch even if the bank does not lend money, receive deposits, or pay checks at that location.
E. No bank, savings bank, or savings and loan association shall lease a branch office unless such lease contract contains provisions that allow the bank, savings bank, or savings and loan association to comply with R.S. 6:507.
Acts 1986, No. 8, §1; Acts 1988, No. 39, §2, eff. June 10, 1988; Acts 1997, No. 606, §1; Acts 2003, No. 53, §1, eff. May 23, 2003.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:507. Closure of branch office

RS 6:507 - Closure of branch office
A. No bank or savings bank shall close a branch office except pursuant to the procedure provided by this Section.
B. At least ninety days prior to the closure date, the bank shall submit in writing to the commissioner detailed reasons for the necessity of the closure, evidence that the appropriate federal banking agency has been notified of said closure, and, if applicable, the location to which the branches' accounts and safe deposit boxes are to be transferred.
C. At least thirty days prior to the closure date, the bank shall post a notice in a conspicuous location in the branch office to be closed, that the branch office will be closed, stating the closure date and, if applicable, the location to which the branches' accounts and safe deposit boxes are to be transferred.
D. The requirements contained in Subsections B and C may be waived by the commissioner to prevent or alleviate any condition which he may reasonably expect to create an emergency relative to that financial institution, its employees, or its customers.
Acts 1987, No. 104, §1; Acts 1992, No. 62, §1, eff. Sept. 1, 1992; Acts 2003, No. 53, §1, eff. May 23, 2003.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:511. Declaration of policy

RS 6:511 - Declaration of policy
It is declared to be the policy of this state to foster commerce in this state by encouraging effective competition among banking institutions and to accomplish these objectives by permitting bank holding companies to own or control one or more banking institutions in Louisiana. It is further declared that a bank holding company is intended to contribute to the overall safety and soundness of its subsidiary banks and that bank holding companies as a whole should contribute to the health of the Louisiana banking industry.
Acts 1962, No. 275, §1, eff. July 10, 1962; Amended by Acts 1968, No. 610, §1; Acts 1984, No. 50, §1, eff. Jan. 1, 1985; Acts 1984, No. 719, §3, eff. Jan. 1, 1985; Acts 1985, No. 809, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:513. Prohibitions

RS 6:513 - Prohibitions
It shall be unlawful:
(1) Until July 1, 1989, for any bank holding company or subsidiary thereof to open for business any bank not now opened for business whether or not a charter, permit, license, or certificate to open for business has already been issued.
(2) For any company to become a bank holding company unless the primary purpose of the corporation is the ownership or control of one or more banks.
(3) For any bank holding company, subsidiary, or employee thereof to engage in any insurance activity except an insurance activity authorized by R.S. 6:242. However, any bank holding company or subsidiary thereof which was engaged as a general insurance agent, or broker on January 1, 1984, may continue to be so engaged.
Acts 1962, No. 275, §3. Amended by Acts 1968, No. 610, §2; Acts 1983, No. 470, §1; eff. July 6, 1983; Acts 1984, No. 50, §1, eff. Jan. 1, 1985; Acts 1984, No. 719, §3, eff. Jan. 1, 1985; Acts 1986, No. 458, §1; Acts 1988, No. 39, §1, eff. June 10, 1988; Acts 1990, No. 611, §1, eff. July 19, 1990; Acts 1995, No. 681, §1; Acts 1997, No. 1475, §1, eff. July 15, 1997.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:514. Penalties

RS 6:514 - Penalties
A. Any bank holding company or any subsidiary thereof which willfully violates any provision of this Chapter or any regulation or order issued by the commissioner of financial institutions pursuant thereto shall upon conviction be fined not less than five hundred dollars nor more than one thousand dollars for each day during which the violation continues.
B. Any individual who willfully participates in a violation of any provision of this Chapter shall upon conviction be fined not less than one thousand dollars nor more than five thousand dollars or imprisoned not more than one year, or both.
Acts 1962, No. 275, §4. Acts 1984, No. 50, §1, eff. Jan. 1, 1985; Acts 1984, No. 719, §3, eff. Jan. 1, 1985.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:515. Administration

RS 6:515 - Administration
A. The commissioner of financial institutions shall administer and carry out the provisions of this Chapter and may issue such regulations and orders as may be necessary to discharge this duty and to prevent evasions of this Chapter.
B. The commissioner may promulgate reporting, examination, and fee regulations for bank holding companies in accordance with the Administrative Procedure Act. Such regulations may include, but shall not exceed, the requirements established herein:
(1) Reports. Each bank holding company shall provide the office of financial institutions with a copy of its annual report submitted to the Federal Reserve Board. A bank holding company subject to a formal enforcement action by the Federal Reserve Board or any of its banks shall provide the office with copies of reports submitted to the Federal Reserve Board or one of its banks arising from such action.
(2) Examinations. The office may examine annually a bank holding company which has as its bank subsidiary or subsidiaries only state banks. The office may examine a bank holding company having more than one bank subsidiary, one of which is a national bank, whenever the commissioner knows or has reasonable cause to believe that an unsafe or unsound practice or condition exists or is likely to occur in any state bank subsidiary of such bank holding company.
(3) REPEALED BY ACTS 1992, No. 63, §1, Eff. JUNE 4, 1992.
Acts 1962, No. 275, §5. Acts 1984, No. 50, §1, eff. Jan. 1, 1985; Acts 1984, No. 719, §3, eff. Jan. 1, 1985; Acts 1985, No. 809, §1; Acts 1992, No. 63, §1, eff. June 4, 1992.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:516. Savings clause

RS 6:516 - Savings clause
A. Nothing herein contained shall be interpreted or construed as approving any act, action, or conduct which is or has been or may be in violation of any existing law, nor shall anything herein contained constitute a defense to any action, suit, or proceeding pending or hereafter instituted on account of any prohibited antitrust or monopolistic act, action, or conduct.
B. Repealed by Acts 1988, No. 39, §2, eff. June 10, 1988.
Acts 1962, No. 275, §6. Amended by Acts 1984, No. 50, §1, eff. Jan. 1, 1985; Acts 1984, No. 719, §3, eff. Jan. 1, 1985; Acts 1988, No. 39, §2, eff. June 10, 1988.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:517. Minority stockholders' rights

RS 6:517 - Minority stockholders' rights
A. Subject to the provisions of Subsection B of this Section, it shall be unlawful for a bank holding company to purchase for cash or any other form of consideration any voting security or percentage of equity ownership of any bank or bank holding company if, after consummation thereof, such bank holding company would, directly or indirectly, be the beneficial owner of more than ten percent of the voting power or equity ownership of such bank or bank holding company, unless such purchase is made pursuant to a tender offer to the holders of all of the voting securities or all of the equity ownership. Any such tender offer shall provide that if more securities or ownership interests are tendered than are proposed to be acquired by the offeror, the securities shall be taken up, as nearly as may be, pro rata according to the number of voting securities or amount of equity ownership tendered by each shareholder or equity owner.
B. The provisions of Subsection A of this Section shall not apply to:
(1) Purchases by a bank holding company of:
(a) Its own shares; or
(b) The shares of any bank or bank holding company of which it owns more than fifty percent of the total voting power.
(2) Purchases which, when cumulated with all other acquisitions of voting securities or equity ownership during the preceding twelve months by such bank holding company, whether by purchase or otherwise, do not exceed two percent of the voting power or equity ownership.
(3) Open market purchases on an exchange or in the over-the-counter market effected through a broker in which neither the purchaser nor the broker, or any person acting on their behalf, solicits the seller.
(4) Purchases by any company which is not a bank holding company immediately prior to the purchase, including purchases in connection with the formation of a one-bank holding company.
(5) Transactions effected other than by way of a purchase of shares or equity ownership from the owner thereof.
Acts 1984, No. 50, §2, eff. Jan. 1, 1985; Acts 1984, No. 719, §3, eff. Jan. 1, 1985; Acts 1985, No. 127, §1, eff. June 29, 1985.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:518. Oppressed shareholder's remedies

RS 6:518 - Oppressed shareholder's remedies
A. For the purposes of R.S. 12:1-1435(I), if the corporation is a bank holding company, any obligation to purchase a withdrawing shareholder's shares shall be subject to any policy, limitation, requirement, order, plan, directive, or enforcement action of any regulatory agency having jurisdiction over the bank holding company or any subsidiary insured by the Federal Deposit Insurance Corporation and shall not cause the bank holding company or any subsidiary insured by the Federal Deposit Insurance Corporation to cease to be sufficiently capitalized under applicable law and regulations, or otherwise jeopardize the safety and soundness of the bank holding company or any of its subsidiaries insured by the Federal Deposit Insurance Corporation.
B. For the purposes of this Section, the term "bank holding company" has the meaning as set forth in 12 U.S.C. 1841.
Acts 2022, No. 261, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:521. Prohibitions

RS 6:521 - Prohibitions
A. It shall be unlawful for a bank holding company to acquire direct or indirect ownership or control of any voting shares of any bank in this state if, after such acquisition, such bank holding company will, directly or indirectly, own or control five percent or more of the voting shares of such bank, or for any company to become a bank holding company as a result of the acquisition of control of a bank in this state, unless:
(1)(a) The bank being acquired is a bank for purposes of the Federal Bank Holding Company Act of 1956, as amended (12 U.S.C. 1841) and its deposits are insured by the Federal Deposit Insurance Corporation; or
(b) The bank being acquired is, for purposes of this Part, a federal savings and loan, a state savings and loan, or a federal savings bank and its deposits are insured by the Federal Deposit Insurance Corporation; and
(2) Until July 1, 1989, such bank being acquired has been in existence and continuously operating as a bank for a period of five years or more prior to the date of acquisition.
B. Nothing in this Section, however, shall prohibit a bank holding company from acquiring all, or substantially all, of the shares of the bank, or from organizing solely for the purpose of facilitating the acquisition of a bank which has been in existence and continuously operating as a bank for a period of five or more years.
C. Nothing in this Part shall be construed to permit a bank holding company or a bank with its principal office outside of Louisiana to establish a branch office or subsidiary within this state.
Acts 1985, No. 108, §1, eff. June 29, 1985.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:531. Declaration of policy

RS 6:531 - Declaration of policy
It is declared to be the policy of this state to facilitate the economic development of this state, to promote a more efficient allocation of financial resources, to improve access to credit for Louisiana individuals and businesses, and to reinforce the overall stability and soundness of the Louisiana banking industry by permitting the orderly expansion of competition among banking institutions on a multistate basis.
Acts 1986, No. 577, §1, eff. July 2, 1986.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:533. Scope of Part

RS 6:533 - Scope of Part
Subject to the other provisions of this Part:
(1) A Louisiana bank or bank holding company may acquire one or more out-of-state banks or branches thereof, or bank holding companies and, subject to the laws of the host state may convert these to branches of the Louisiana bank. For the purposes of this Paragraph, the term "bank" shall have the meaning set forth in R.S. 6:512(C).1
(2) An out-of-state bank or bank holding company may acquire a Louisiana bank holding company, a Louisiana bank, or another out-of-state bank holding company having a Louisiana bank subsidiary.
(3) Effective June 1, 1997, an out-of-state bank holding company may convert its Louisiana bank or banks into branches of the out-of-state bank.
Acts 1986, No. 577, §1, eff. July 2, 1986; Acts 1989, No. 686, §2, eff. July 7, 1989; Acts 1995, No. 1249, §1.
1As appears in enrolled bill.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:534. Law applicable to interstate bank branches; purpose

RS 6:534 - Law applicable to interstate bank branches; purpose
A. Pursuant to the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 and the enactment of R.S. 6:531 et seq., the state permits and encourages interstate banking mergers to facilitate economic development of this state. In furtherance thereof, it is the purpose of this Section to ensure that Louisiana law applies to all banks conducting business in this state to the extent that such law is not preempted by federal law.
B. Pursuant to the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 and R.S. 6:531 et seq., any multistate bank with a branch in the state of Louisiana may provide any banking services, including but not limited to collection, deposit, lock box, fiscal agency, fiduciary, custodial, or investment services, and state law shall not prohibit multistate banks having in-state banking offices paying the bank shares tax from providing such services. These multistate banks may provide such services to any party including, without limitation, the state and any state agency, board or commission, local board, political subdivision, and any other public or private entity, and such entities may procure such services from any such multistate bank, on the same terms as any bank with its main or principal office in Louisiana.
Acts 2001, No. 18, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:535. Interstate acquisitions; filings with commissioner

RS 6:535 - Interstate acquisitions; filings with commissioner
A. An out-of-state bank holding company shall not acquire, directly or indirectly, a Louisiana bank holding company or a Louisiana bank or an out-of-state bank holding company having one or more Louisiana banks as subsidiaries unless it has filed with the commissioner all applications and other information filed with any federal agency in connection with such acquisition and paid a fee as prescribed by regulation of the commissioner.
B. If any out-of-state bank holding company makes an acquisition or engages in an activity or causes any of its subsidiaries to engage in an activity that is prohibited by this Part, the commissioner shall require such out-of-state bank holding company to terminate such activity or divest itself of its direct or indirect ownership or control of any Louisiana banks acquired in violation of this Part. In addition, the commissioner shall have the power to enforce any other prohibitions in this Part by requiring divestitures of nonconforming banks, bank holding companies, or assets, through the imposition of fines and penalties or through the exercise of such other remedies as shall be appropriate, including but not limited to judicial actions.
C. It shall be unlawful for any out-of-state bank holding company to enter this state, either directly or indirectly, by the acquisition of a Louisiana bank that is not an established Louisiana bank or a bank holding company that owns a Louisiana bank, as a subsidiary, that is not an established Louisiana bank.
Acts 1986, No. 577, §1, eff. July 2, 1986; Acts 1995, No. 1249, §1; Acts 1999, No. 122, §1, eff. Sept. 1, 1999; Acts 2021, No. 17, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:536. Interstate bank acquisitions; filings with commissioner

RS 6:536 - Interstate bank acquisitions; filings with commissioner
A. An out-of-state bank shall not acquire, directly or indirectly, a Louisiana bank holding company or a Louisiana bank or an out-of-state bank holding company having one or more Louisiana banks as subsidiaries or the Louisiana branches of an out-of-state bank unless it has filed with the commissioner all applications and other information filed with any federal agency in connection with such acquisition, and paid a fee as prescribed by regulation of the commissioner.
B. If any out-of-state bank makes an acquisition or engages in an activity or causes any of its subsidiaries to engage in an activity that is prohibited by this Part, the commissioner shall require such out-of-state bank holding company to terminate such activity or divest itself of its direct or indirect ownership or control of any Louisiana banks or branches acquired in violation of this Part. In addition, the commissioner shall have the power to enforce any other prohibitions in this Part by requiring divestiture of nonconforming bank branches, bank holding companies, or assets, through the imposition of fines and penalties or through the exercise of such other remedies as shall be appropriate, including but not limited to judicial actions.
C. It shall be unlawful for any out-of-state bank to enter this state, either directly or indirectly, by the acquisition of a Louisiana bank that is not an established Louisiana bank or a bank holding company which owns, as a subsidiary, a Louisiana bank that is not an established Louisiana bank. However, if an out-of-state bank is operating in this state through branches, then another out-of-state bank company may enter Louisiana by acquisition of those branches.
Acts 1986, No. 577, §1, eff. July 2, 1986; Acts 1989, No. 686, §2, eff. July 7, 1989; Acts 1995, No. 1249, §1; Acts 1999, No. 122, §1, eff. Sept. 1, 1999; Acts 2021, No. 17, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:537. Emergency acquisitions

RS 6:537 - Emergency acquisitions
A. The commissioner may approve any acquisition of a Louisiana bank that will be lawful under the provisions of R.S. 6:535, if all the following exist with respect to the Louisiana bank:
(1) It has an adjusted capital to assets ratio of less than four percent, according to the latest examination by the office of financial institutions or the Federal Deposit Insurance Corporation.
(2) It is the conclusion of the commissioner that the bank has major and serious problems or unsafe and unsound conditions which are not being satisfactorily addressed or resolved.
(3) It is the conclusion of the commissioner that the bank has a high potential for failure, although failure is not necessarily imminent.
B.(1) When the conservator has commenced the liquidation of a state bank under R.S. 6:391, the commissioner may authorize the formation of a new bank by a Louisiana or out-of-state bank holding company when a new bank will be used in a purchase and assumption or other transfer of assets and liabilities of a failed bank to maintain banking service to the community and prevent any loss on deposits of the failed bank.
(2) However, the following provisions shall govern the bid procedure in such a circumstance:
(a) The Federal Deposit Insurance Corporation shall set minimum bid requirements for assets and liabilities of the failed bank.
(b) The Federal Deposit Insurance Corporation's calculations and estimates of the minimum bid requirements shall be determinative.
(c) Bids for such assets and liabilities may be solicited from in-state banks, Louisiana bank holding companies, Louisiana multi-bank holding companies, individuals, groups of individuals, and out-of-state banks, out-of-state bank holding companies, out-of-state multi-bank holding companies, individuals and groups of individuals.
(d) The Federal Deposit Insurance Corporation may solicit such bids as are practicable from prospective purchasers or merger partners it determines, in its sole discretion, are both qualified and capable of acquiring assets and liabilities of the bank.
(e) If the minimum bid requirements are met by any of such entities, the bank shall be acquired by the bidder whose bid was determined by the Federal Deposit Insurance Corporation, in its sole discretion, to be the least costly and most acceptable bid from among those submitted.
(f)-(i) Repealed by Acts 1989, No. 686, §2, eff. July 7, 1989.
Acts 1986, No. 577, §1, eff. July 2, 1986; Acts 1989, No. 686, §§1 and 2, eff. July 7, 1989; Acts 1995, No. 1249, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:537.1. Parity provision

RS 6:537.1 - Parity provision
In accordance with the provisions of the Riegle-Neil Interstate Banking and Branching Efficiency Act, a Louisiana bank or bank holding company may acquire an out-of-state bank or bank holding company or may branch into any other state to the same extent as any state chartered bank, national bank, foreign bank, or other similar institution in the host state in question may do so and shall have the right and power to exercise and enjoy all rights, powers, privileges, and immunities accorded to any state chartered bank, national bank, foreign bank, or other similar institution in the host state.
Acts 1995, No. 1249, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:538. Five-year continuous operation requirement

RS 6:538 - Five-year continuous operation requirement
The commissioner shall not approve an application for an acquisition under this Part unless the Louisiana bank to be acquired, or at least one Louisiana bank subsidiary of the bank holding company to be acquired, has as of the proposed date of acquisition been in existence and in continual operation for at least five years.
Acts 1986, No. 577, §1, eff. July 2, 1986; Acts 1995, No. 1249, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:539. Agency activities; prohibitions

RS 6:539 - Agency activities; prohibitions
A. In accordance with the rules, regulations, policies, and procedures of the office of financial institutions, any Louisiana state-chartered financial institution may receive deposits, renew time deposits, close loans, service loans, and receive payments on loans and other obligations as an agent for any other financial institution.
B. Notwithstanding any other provision of law, any Louisiana financial institution acting as an agent in accordance with Subsection A of this Section shall not be considered to be a branch of the other financial institution for which it acts as agent.
C. In acting as an agent pursuant to this Section, a state-chartered bank may:
(1) Conduct any activity which such institution is not prohibited from conducting as a principal under any applicable federal or state law, or
(2) As a principal, have an agent conduct under this Section any activity which the institution is not prohibited from conducting under any applicable federal or state law.
D. No provision of this Section shall be construed as affecting either of the following:
(1) The authority of any financial institution to act as an agent on behalf of any other financial institution under any other provision of law.
(2) Whether a financial institution which conducts any activity as an agent on behalf of any other financial institution under any other provision of law shall be considered to be a branch of such other institution.
E. Agency relationships by and between financial institutions as provided in this Section shall be on terms that are consistent with safe and sound banking practices and all applicable regulations of any appropriate state or federal banking supervisory agency.
Acts 1986, No. 577, §1, eff. July 2, 1986; Acts 1995, No. 1249, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:540.1. Savings clause

RS 6:540.1 - Savings clause
Nothing in this Part shall be interpreted or construed as approving any act, actions, or conduct which is or has been or may be in violation of any existing law, nor shall anything herein contained constitute a defense to any action, suit, or proceeding pending or hereafter instituted on account of any prohibited antitrust or monopolistic act, action, or conduct.
Acts 1995, No. 1249, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:540.2. Construction with other laws

RS 6:540.2 - Construction with other laws
A. The provisions of R.S. 6:511 through 517 shall be applicable to a bank holding company, as defined in this Part, operating in Louisiana, but the restrictions on acquisitions contained therein shall continue to apply only to acquisitions in this state and the restrictions on activities shall continue to apply only to restrict activities in this state.
B. Except as expressly provided herein, nothing contained in this Part shall be construed to amend or modify the provisions of any other law governing the supervision or regulation of banks and bank holding companies or the organization and powers of the commissioner with respect thereto. In particular, and not by way of limitation of the scope of the preceding sentence, nothing in this Part shall be construed to alter, amend, or repeal the prohibitions against the establishment of branch banking offices contained in R.S. 6:501 through R.S. 6:506.
C. The provisions of R.S. 6:124.1 shall apply to out-of-state banks and bank holding companies acquiring Louisiana banks, bank holding companies, or banking offices to the same extent as they apply to in-state banks and bank holding companies.
D. The provisions of R.S. 9:3554(L) shall apply to all national banks, foreign bank branches, out-of-state banks, and bank holding companies in the same manner as they apply to Louisiana banks.
Acts 1995, No. 1249, §1; Acts 1999, No. 263, §1.
2023 Louisiana Laws › Revised Statutes › Title 6 - Banks and Banking › §6:541. Declaration of policy

RS 6:541 - Declaration of policy
In order to encourage the development of the financial services industry within this state, thereby increasing employment opportunities and broadening the tax base, it is declared to be the policy of the state of Louisiana to promote the organization of financial service center banks and the retention of existing financial services within the state.
Acts 1987, No. 808, §1.