HLS 19RS-671 ENGROSSED
2019 Regular Session
HOUSE BILL NO. 303
BY REPRESENTATIVE COUSSAN
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
BANKS/BANKING: Provides for fingerprinting for criminal history background checks
for employment in a financial institution
1 AN ACT
2To amend and reenact R.S. 51:703(D)(5)(b) and to enact R.S. 6:121.2(F), relative to the
3 Office of Financial Institutions obtaining information for criminal background
4 checks; to provide for the application of the commissioner's authority; to provide for
5 the procedure to submit fingerprints; and to provide for related matters.
6Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 6:121.2(F) is hereby enacted to read as follows:
8 §121.2. Authority to obtain criminal history record information
9 * * *
10 F. The authority set forth in this Section applies to all persons seeking
11 licensure, registration, or approval by the commissioner to operate as any of the
12 following:
13 (1) A state bank pursuant to R.S. 6:201 et seq.
14 (2) A trust company pursuant to R.S. 6:571 et seq.
15 (3) A credit union pursuant to R.S. 6:641 et seq.
16 (4) A savings and loan association pursuant to R.S. 6:702 et seq.
17 (5) A currency exchange service or check-casher pursuant to R.S. 6:1001 et
18 seq.
19 (6) A sale of checks or money transmission business pursuant to R.S. 6:1031
20 et seq.
Page 1 of 4
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 19RS-671 ENGROSSED
HB NO. 303
1 (7) A mortgage broker, mortgage lender, mortgage servicer, or mortgage
2 loan originator pursuant to 6:1081 et seq.
3 (8) A savings bank pursuant to R.S. 6:1161 et seq.
4 (9) A licensed lender pursuant to R.S. 9:3510 et seq.
5 (10) A loan broker pursuant to R.S. 9:3572.1 et seq.
6 (11) A pawnbroker pursuant to R.S. 37:1781 et seq.
7 (12) A salesman or investment adviser representative pursuant to R.S.
8 51:701 et seq.
9 (13) A Louisiana capital company pursuant to R.S. 51:1925 et seq.
10 (14) A Louisiana business and industrial development company pursuant to
11 R.S. 51:2392 et seq.
12 (15) A bond for deed escrow agent pursuant to R.S. 6:414 and LAC
13 10:XV.901 et seq.
14 (16) A repossession agency and repossession agent pursuant to R.S. 6:965
15 et seq. and LAC 10:XV.1301 et seq.
16 Section 2. R.S. 51:703(D)(5)(b) is hereby amended and reenacted to read as follows:
17 §703. Registration of dealers, salesmen, and investment advisers and adviser
18 representatives; surety bonds; records; disclosures
19 * * *
20 D.
21 * * *
22 (5)
23 * * *
24 (b) As directed by the commissioner, each applicant for registration as an
25 investment adviser representative shall submit fingerprints for a criminal background
26 check. The fingerprints may be submitted through any licensing system authorized
27 by the commissioner pursuant to the provisions of R.S. 6:121.8.
28 * * *
Page 2 of 4
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 19RS-671 ENGROSSED
HB NO. 303
1 Section 3. This Act shall become effective upon signature by the governor or, if not
2signed by the governor, upon expiration of the time for bills to become law without signature
3by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
4vetoed by the governor and subsequently approved by the legislature, this Act shall become
5effective on the day following such approval.
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 303 Engrossed 2019 Regular Session Coussan
Abstract: Provides for applicability and procedures relative to the Office of Financial
Institutions obtaining information for a criminal background check.
Proposed law provides that the authority of the commissioner of the Office of Financial
Institutions to obtain criminal history record information applies to the following entities,
each as provided for in present law:
(1)A state bank.
(2)A trust company.
(3)A credit union.
(4)A savings and loan association.
(5)A currency exchange service or check-casher.
(6)A sale of checks or money transmission business.
(7)A mortgage broker, mortgage lender, mortgage servicer, or mortgage loan originator.
(8)A savings bank.
(9)A licensed lender.
(10)A loan broker.
(11)A pawnbroker.
(12)A salesman or investment adviser representative.
(13)A Louisiana capitol company.
(14.A Louisiana business and industrial development company.
(15)A bond for deed escrow agent.
(16)A repossession agency and repossession agent.
Page 3 of 4
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 19RS-671 ENGROSSED
HB NO. 303
Present law requires each applicant for registration as an investment adviser to submit
fingerprints for a criminal background check. Proposed law retains present law.
Present law allows the fingerprints of an applicant for registration as an investment adviser
representative to be submitted through any licensing system authorized by the commissioner
pursuant to the provisions of present law. Proposed law repeals present law.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 51:703(D)(5)(b); Adds R.S. 6:121.2(F))
Page 4 of 4
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.