Terms Used In Louisiana Revised Statutes > Title 6 > Chapter 9-B - Interstate Acquisitions and Mergers of Associations

• Association: means a savings association, thrift institution, homestead, building and loan association, savings and loan association, or society, including both capital stock and mutual associations. See Louisiana Revised Statutes 6:703
• Capital stock association: means an association, not in the mutual form, having capital stock ownership. See Louisiana Revised Statutes 6:703
• Commissioner: means the commissioner of financial institutions, of the state of Louisiana, in his capacity as supervisor of associations. See Louisiana Revised Statutes 6:703
• Demand account: means an account payable on demand which is not a savings account. See Louisiana Revised Statutes 6:703
• Depositor: means a holder of a savings, demand, or other type of deposit account of an association. See Louisiana Revised Statutes 6:703
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Executor: A male person named in a will to carry out the decedent
• Impaired condition: means a condition in which the assets of an association in the aggregate do not have a fair value equal to the aggregate amount of liabilities of the association. See Louisiana Revised Statutes 6:703
• Member: means a person or entity holding a savings or demand account of or shares of a mutual association, and may include a person borrowing from or assuming or obligated upon a loan or interest therein held by such association if such is authorized by the charter or the bylaws of the association. See Louisiana Revised Statutes 6:703
• Mutual association: means an association, not having capital stock ownership and operating in the mutual form. See Louisiana Revised Statutes 6:703
• Savings account: means an account to which earnings, including interest, is paid or accrued. See Louisiana Revised Statutes 6:703
• Share: means any share, certificate, security, account, or other evidence of funds invested in a mutual association by a member thereof, other than a savings or demand account. See Louisiana Revised Statutes 6:703
• Stock: means capital stock of a capital stock association. See Louisiana Revised Statutes 6:703
• Unsafe and unsound condition: means the inability of an association to meet its withdrawal requests or the association having violated its charter. See Louisiana Revised Statutes 6:703