RS 6:1271 – Amendment of articles A savings bank may amend and restate its articles of incorporation in accordance with the procedure set forth in Part III of Subchapter A of Chapter 3 of this Title. Acts 1990, No. 816, §1, eff. Sept. 1, 1990; Acts 2003, No. 577, §1, eff. June 27, 2003.
RS 6:1272 – Repealed by Acts 2003, No. 577, §2, eff. June 27, 2003.
RS 6:1273 – Repealed by Acts 2003, No. 577, §2, eff. June 27, 2003.
RS 6:1274 – Repealed by Acts 2003, No. 577, §2, eff. June 27, 2003.
RS 6:1275 – Effect upon existing articles and bylaws Any adopted or amended articles which contain provisions contrary to the savings bank’s bylaws, shall serve to repeal the particular bylaws without further action by the board. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
RS 6:1276 – Merger; adoption of plan A. Any federally insured institution may merge into a savings bank operating under this Chapter. Approval of the plan of merger shall be by resolution adopted by a majority vote of all members of the board of directors of each merging institution. B. The plan of merger shall […]
RS 6:1277 – Merger; vote of approval The commissioner shall require that the plan of merger be submitted to the stockholders of the savings banks for approval. The commissioner may require that the plan of merger be submitted to members of a mutual savings bank. Each meeting of the members or stockholders of the savings […]
RS 6:1278 – Merger; commissioner’s certificate The executed merger agreement together with copies of the resolutions of the members or stockholders of each merging institution approving it, certified by the managing officer, and attested to by the secretary, shall be filed with the commissioner. The commissioner shall then issue to the continuing savings bank, a […]
RS 6:1279 – Effect of merger The continuing savings bank shall be considered the same business and corporate entity as each merging institution, with all the property, rights, duties, and obligations of each merging institution, except as otherwise provided by the articles of incorporation of the continuing savings bank. All liabilities of each of the […]
RS 6:1280 – Merger; commissioner’s expenses The expenses of any examination made by or at the direction of the commissioner of financial institutions in connection with a proposed merger shall be paid for by the merging institutions. Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
RS 6:1281 – Sale of assets A savings bank, in one transaction not in the usual course of business, may sell all or substantially all of its assets, with or without its name and goodwill, to another savings bank, or to any other financial institution, in consideration of money, capital, or obligations of the purchasing […]
RS 6:1282 – Procedure to effect sale of all assets A. The procedure to effect a sale authorized by R.S. 6:1279 and 1284 shall be as follows: (1) The board of directors shall adopt a resolution setting forth the terms of the proposed sale and shall submit the plan to the commissioner for his preliminary […]
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, […]
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 […]
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 […]
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 […]
