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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2012 ENROLLED
SENATE BILL NO. 120
BY SENATOR MILLS
AN ACT1
To amend and reenact R.S. 6:243(B)(4), to enact R.S. 6:243(C), and to repeal R.S. 6:243(D),2
relative to state banks; to provide for assets acquired by a bank from a failed or3
failing bank; to increase the amount property must be valued from one hundred4
thousand to two hundred fifty thousand dollars before a qualified appraisal on5
property is annually required; and to provide for related matters.6
Be it enacted by the Legislature of Louisiana:7
Section 1. R.S. 6:243(B)(4) is hereby amended and reenacted and R.S. 6:243(C) is8
hereby enacted to read as follows:9
§243. Immovable property; dealings10
* * *11
B. * * *12
(4) A bank which acquires the assets of a failed or failing bank shall be13
allowed ten years from the date it acquires the immovable property of the failed or14
failing bank within which to divest itself of such property. A qualified appraisal shall15
be obtained annually, as provided in Paragraph (2) of this Subsection, for each item16
of property having a value in excess of one hundred two hundred fifty thousand17
dollars. A bank shall establish the anniversary date to be the original acquisition date18
of the other immovable property as determined by the failed or failing institution or19
the date the bank acquires the other immovable property of the failed or failing20
institution. Once the anniversary date has been established, that date will remain as21
such for as long as the property is held by the bank.22
* * *23
C. [Repealed by Acts 1999, No. 860, §3.]24
D.(1) C.(1) A state bank may hold immovable property in perpetuity, exempt25
from the divestiture requirements of this Section, if all of the following conditions26
are met:27 SB NO. 120 ENROLLED
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
(a) The property is not being operated by the financial institution as an1
ongoing business.2
(b) The property has been written down to the value of one dollar on the3
books of the bank.4
(c) The property has been transferred into a subsidiary of the bank.5
(2) Property held in perpetuity subject to Paragraph (1) of this Subsection6
shall also be exempt from the requirement for appraisal contained in Paragraph B(2)7
of this Section.8
Section 2. R.S. 6:243(D) is hereby repealed.9
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: