ENROLLED
ACT No. 16
2019 Regular Session
HOUSE BILL NO. 396
BY REPRESENTATIVE ANDERS
1 AN ACT
2 To amend and reenact R.S. 6:822(3)(d) and 1229.1 and to enact R.S. 6:243(C)(1)(d) and
3 246, relative to bank operating subsidiaries; to provide conditions for a state bank to
4 hold immovable property in perpetuity; to provide for permitted conduct; to provide
5 for notice; to provide for applicability; and to provide for related matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 6:822(3)(d) and 1229.1 are hereby amended and reenacted and R.S.
8 6:243(C)(1)(d) and 246 are hereby enacted to read as follows:
9 §243. Immovable property; dealings
10 * * *
11 C.(1) A state bank may hold immovable property in perpetuity, exempt from
12 the divestiture requirements of this Section, if all of the following conditions are met:
13 * * *
14 (d) Written approval has been obtained from the commissioner.
15 * * *
16 §246. Bank operating subsidiaries
17 A. A state bank may, through a wholly-owned operating subsidiary, conduct
18 any activity or make any investment that the state bank is authorized to conduct or
19 make under state or federal law. A state bank that establishes a subsidiary in
20 accordance with this Subsection shall provide the commissioner written notice within
21 thirty days after establishing the subsidiary or commencing the new activity in the
22 subsidiary.
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HB NO. 396 ENROLLED
1 B. Except as provided in Subsection A of this Section, a state bank shall
2 obtain written approval from the commissioner in order to conduct any activity
3 through a subsidiary.
4 * * *
5 §822. Loans and investments
6 An association may invest in, sell, participate, or otherwise deal in or with the
7 following loans or other investments as hereinafter provided:
8 * * *
9 (3) The following loans or investments are permitted, but are limited except
10 as provided in this Section to not in excess of the percentage of the assets of the
11 association set forth as follows:
12 * * *
13 (d) Real estate investments for other than association's offices. The
14 provisions of R.S. 6:243 and 246, and the rules and regulations promulgated
15 thereunder shall be applicable to associations in the same manner as they are
16 applicable to banks.
17 * * *
18 §1229.1. Applicability of rules and regulations
19 The provisions of R.S. 6:243 and 246, and the rules and regulations
20 promulgated thereunder shall be applicable to savings banks in the same manner as
21 they are applicable to banks.
SPEAKER OF THE HOUSE OF REPRESENTATIVES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
Page 2 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.