Louisiana Revised Statutes 6:1284 – Conversion of an existing financial institution to a savings bank
Terms Used In Louisiana Revised Statutes 6:1284
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
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 this Chapter and the rules and regulations of the commissioner, except that any requirements of publication, notice, and public hearing are hereby waived.
(4) Paying all outstanding bills for supervisory fees, examination fees, membership fees and other fees, penalties, and assessments associated with its original charter.
(5) Recording a savings bank charter in the parish of its company headquarters.
(6) Giving notice to its original chartering authority and surrendering its charter to its chartering authority upon approval of the commissioner.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990; Acts 2003, No. 17, §1, eff. May 23, 2003; Acts 2003, No. 60, §1, eff. May 23, 2003.