RS 6:901 – Powers, privileges, and exemptions of federal associations A federal savings association, federal savings and loan association, or federal savings bank incorporated pursuant to the laws of the United States and having its principal business office located within the territorial limits of this state is not a foreign association. Unless federal laws or […]
RS 6:902 – Companion authority A. It is expressly provided that such powers, privileges, benefits, immunities, and exemptions that are provided by the laws of this state for associations organized under the laws of this state and for the members, stockholders, depositors, or borrowers thereof; and the vendors liens, mortgages on movables or immovables, or […]
RS 6:903 – Additional companion authority Notwithstanding any other provision of law to the contrary, the commissioner shall have the authority to promulgate rules and regulations granting to associations the same authority granted to federally chartered savings and loan associations, or to a foreign association which has been issued a certificate of authority pursuant to […]
RS 6:904 – Conversion into state-chartered association A. At an annual meeting or at any special meeting of the members or stockholders called to consider such action, any federal association may convert itself into an association under this Chapter upon a vote of fifty-one percent or more of the total number of votes of the […]
RS 6:905 – Limitation No conversion of a federal association, direct or indirect, shall be permitted except as specifically authorized by this Chapter. Acts 1970, No. 234, §1. Acts 1983, No. 675, §1.
RS 6:906 – Conversions; locations Any federal association that converts to a state association or any state association that converts to a federal association shall have the right to keep open and operate office locations that it has in operation on the effective date of the conversion. Acts 1983, No. 675, §1.
RS 6:907 – Formation of savings and loan holding companies Notwithstanding any other provision of law to the contrary, a savings and loan association whether chartered on a mutual or capital stock basis may form a savings and loan holding company. The commissioner of financial institutions shall promulgate regulations for the implementation of this Section, […]
RS 6:908 – Oppressed shareholder’s remedies The provisions of R.S. 6:518 shall be applicable to savings and loan holding companies and their subsidiaries insured by the Federal Deposit Insurance Corporation. Acts 2022, No. 261, §1.
