Louisiana Banking Law

Louisiana · Banks and Banking · §§ 6-1 to 6-5 · 36 sections

Overview

This act governs the chartering, supervision, and regulation of banks and other financial institutions within a state, including nondepository institutions such as licensed lenders and money transmitters. It creates a state banking regulator — an office headed by a commissioner — and vests it with rulemaking authority, examination and visitation powers over state-chartered institutions, licensing functions, and enforcement tools including cease and desist orders and penalties for false or misleading filings. It also imposes ongoing reporting and recordkeeping duties on regulated institutions, funds the regulator through assessments and fees levied on them, and provides an administrative process — written decisions, reconsideration, and judicial review on the agency record — for parties aggrieved by the commissioner's actions.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.

Sections covered

La. R.S. 6:1TITLE 6BANKS AND BANKING
La. R.S. 6:101Establishment of office; commissioner
La. R.S. 6:102Officers and employees; post-employment restriction
La. R.S. 6:103Records of the Office of Financial Institutions
La. R.S. 6:121Regulatory powers; promulgation of rules and regulations
La. R.S. 6:121.1Enforcement powers of commissioner
La. R.S. 6:121.1.1Restrictions on enforcement power; cannabis-related legitimate businesses and service providers; egregious violations
La. R.S. 6:121.2Authority to obtain criminal history record information
La. R.S. 6:121.3Guidance by commissioner; advisory opinions
La. R.S. 6:121.4Addition of directors and executive officers of troubled state- chartered institutions and holding companies
La. R.S. 6:121.5Application containing false information or misrepresentations
La. R.S. 6:121.6Authority of the commissioner; nondepository institutions; emergencies
La. R.S. 6:121.7Return of payment; imposition of fee
La. R.S. 6:121.8Licensing systems
La. R.S. 6:122Power to issue cease and desist orders
La. R.S. 6:123Visitation and examination of state financial institutions
La. R.S. 6:124Call reports; statement of financial condition
La. R.S. 6:124.1Community reinvestment rating; acceptance of public funds
La. R.S. 6:125Reports of financial condition
La. R.S. 6:126Assessments on financial institutions; disposition of fees; creation of special fund
La. R.S. 6:127Retention of records of financial institutions; microfilm
La. R.S. 6:128Financial institutions' holidays; regulations
La. R.S. 6:129Circulating rumor respecting condition of financial institution
La. R.S. 6:130Relocation of main office
La. R.S. 6:131Applicability
La. R.S. 6:132Written decision; reasons; hearing
La. R.S. 6:133Reconsideration of decision
La. R.S. 6:134Judicial review; venue; effect
La. R.S. 6:135Record filed with court
La. R.S. 6:136Basis for judicial review
La. R.S. 6:137Judicial review; test; burden
La. R.S. 6:138Remand to the commissioner
La. R.S. 6:2General definitions
La. R.S. 6:3Effect on existing banks
La. R.S. 6:4Employment reference; release of certain information
La. R.S. 6:5Public policy

Enacted in other states

California, Connecticut

All Louisiana named statutes →

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