Louisiana Administrative Code › Title 10 - FINANCIAL INSTITUTIONS, CONSUMER CREDIT, INVESTMENT SECURITIES AND UCC › Part I - Financial Institutions › Chapter 5 - Applications and Notices › Subchapter A - Certificate of Authority for New Financial Institutions; Branches; or Relocation of Main Office or Branch Office › Section I-501 - Definitions

Current through Register Vol. 50, No. 6, June 20, 2024
Applicant
- one or more natural persons or
					 a state-chartered financial institution seeking a certificate of authority from
					 the commissioner to transact business as a financial institution, or a branch
					 thereof, as defined below.
Application
- shall consist of forms
					 provided by the commissioner, submitted in a form acceptable to the
					 commissioner, along with all supporting documents, requesting that a
					 certificate of authority be granted.
Branch
or
Branch Office
- for the purpose of making application to this Office means any manned office
					 of a bank. This excludes off-site electronic financial terminals and loan
					 production offices which are owned or leased by the financial
					 institution.
Commissioner
- the Commissioner of
					 Financial Institutions.
Deposit Production Office
-a physically
					 manned location, in the State of Louisiana, in another state, or the District
					 of Columbia, other than the main office or branch office of a financial
					 institution, from which the financial institution intends to provide
					 information about deposit products offered by such financial institution,
					 solicit deposits, and assist persons in completing application forms and
					 related documents to open deposit accounts. A deposit production office may be
					 a wholly-owned operating subsidiary of a financial institution. A deposit
					 production office may also be referred to in this rule as a "DPO".
Electronic Financial Terminal (EFT)
-
1. an electronic information processing device, other than
					 a telephone, which is established to do either or both of the following:
a. capture the data necessary to initiate financial
					 transactions; or
b. through its attendant support system, store or initiate
					 the transmission of the information necessary to consummate a financial
					 transaction;
2. the term includes, without limitation, point of sale
					 terminals, merchant-operated terminals, script or cash dispensing machines, and
					 automated teller machines.
Financial Institution
- any bank, savings
					 bank, homestead association, building and loan association, or savings and loan
					 association chartered by the commissioner.
Investigation
- the commissioner or any
					 examiner or examiners designated by the commissioner shall make such
					 investigations as deemed necessary to assist in the determination of matters
					 pending before the commissioner. The investigation shall include an examination
					 of each of the six factors detailed in §503 C
Loan Production Office
-a physically manned
					 location, in the state of Louisiana, in another state or the District of
					 Columbia, other than the main office or branch office of a financial
					 institution from which the financial institution intends to provide information
					 about, and solicit and/or originate applications for, loans, by such financial
					 institution. A loan production office may be a wholly-owned operating
					 subsidiary of a financial institution. A loan production office may also be
					 referred to in this rule as an "LPO".
"Phantom" Financial Institution
- a
					 corporation organized as a state, non deposit taking financial institution, for
					 the purpose of facilitating the organization of a holding company.
Relocation of a Branch Office
- a movement
					 within the same neighborhood that does not substantially affect the nature of
					 business or customers served.
AUTHORITY NOTE:
					 Promulgated in accordance with
					 R.S.
					 6:121(B)(1).