RS 6:411 – Engaging in business of banking without authority; penalty A. It shall be unlawful for any person other than a financial institution to engage in the business of banking anywhere in this state. B. Financial institutions may only engage in the business of banking to the extent expressly permitted by the laws under […]
RS 6:412 – Unauthorized use of the word “bank” or similar words A. It shall be unlawful for any person other than a bank to: (1) Use the word “bank”, “banker”, “banking”, “trust”, “trustee”, “trust company”, or any other word of similar import as part of its name or title, except that a trust created […]
RS 6:412.1 – Soliciting using lender’s name or customer loan information; restrictions; injunction; damages; attorney fees; enforcement A. For purposes of this Section, the following terms shall have the following meanings: (1) “Lender” means a state or federally chartered bank, savings bank, credit union, or savings and loan association, which is operating in Louisiana with […]
RS 6:413 – Prohibited use of the term "insured savings" A. No person shall offer, hold out, represent, or advertise any account, deposit, investment, stock purchase, indenture, passbook, or other evidence of a credit on deposit or maintained as an account as constituting "insured savings", or use the term "insured savings" with regard to any […]
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, […]
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 […]
RS 6:415 – Loans; other credit exposure; derivative transactions; restrictions; penalties A. A state bank shall not loan on an unsecured basis to any one borrower, directly or indirectly, an amount in excess of twenty percent of the sum of its capital stock and surplus. B. A state bank shall not loan on a secured […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
