RÉSUMÉ DIGEST
ACT 13 (HB 303) 2019 Regular Session Coussan
New 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 existing 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.
Existing law requires each applicant for registration as an investment adviser representative
to submit fingerprints for a criminal background check. New law retains existing law.
Prior law allowed 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 existing law. New law repeals prior law.
Effective upon signature of governor (May 24, 2019).
(Amends R.S. 51:703(D)(5)(b); Adds R.S. 6:121.2(F))