Louisiana Revised Statutes 6:537.1 – Parity provision
Terms Used In Louisiana Revised Statutes 6:537.1
- Bank: means any "insured bank" as such term is defined in Section 3(h) of the Federal Deposit Insurance Act, Louisiana Revised Statutes 6:532
- Bank holding company: means any company that directly or indirectly controls a bank, and, unless the context requires otherwise, includes a Louisiana bank holding company, an out-of-state bank holding company, or a foreign bank holding company. See Louisiana Revised Statutes 6:532
- Company: means any corporation, business trust, partnership, association, or similar organization, including a bank, but shall not include any corporation the majority of the shares of which are owned by the United States or by any state. See Louisiana Revised Statutes 6:532
- Host state: means :
(a) With respect to a bank, a state, other than the home state of the bank in which the bank maintains, or seeks to establish and maintain, a branch or a loan or trust production office, and
(b) With respect to a bank holding company, a state, other than the home state of the company in which the company controls, or seeks to control, a bank subsidiary. See Louisiana Revised Statutes 6:532
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- Out-of-state bank: means a bank other than a Louisiana bank. See Louisiana Revised Statutes 6:532
In accordance with the provisions of the Riegle-Neil Interstate Banking and Branching Efficiency Act, a Louisiana bank or bank holding company may acquire an out-of-state bank or bank holding company or may branch into any other state to the same extent as any state chartered bank, national bank, foreign bank, or other similar institution in the host state in question may do so and shall have the right and power to exercise and enjoy all rights, powers, privileges, and immunities accorded to any state chartered bank, national bank, foreign bank, or other similar institution in the host state.
Acts 1995, No. 1249, §1.