Louisiana Revised Statutes 9:3563.1 – Financial institutions exempt
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Terms Used In Louisiana Revised Statutes 9:3563.1
- Consumer: means a natural person who purchases goods, services, or movable or immovable property or rights therein, for a personal, family, or household purpose and includes a purchaser or buyer in a consumer credit sale or transaction made with the use of a seller credit card or otherwise, or a borrower or debtor in a consumer loan, revolving loan account, or a lender credit card. See Louisiana Revised Statutes 9:3516
Notwithstanding the provisions of La. Rev. Stat. 9:3563, banks, savings and loan associations, savings banks, credit unions, and any nonpublic elementary and secondary schools that finance their tuition, shall be exempt from the notification filing requirements under this Part. Such institutions, except as provided in La. Rev. Stat. 9:3512, shall be subject to the provisions of this Chapter on all consumer credit transactions made by the institution. “Consumer credit transactions” is as defined in La. Rev. Stat. 9:3516(13).
Acts 1993, No. 932, §2, eff. Sept. 1, 1993; Acts 1995, No. 255, §1; Acts 1995, No. 292, §1; Acts 2003, No. 372, §1.