SLS 19RS-396 ENGROSSED
2019 Regular Session
SENATE BILL NO. 150
BY SENATOR THOMPSON
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
BANKS/BANKING. Provides relative to the unauthorized use of certain financial terms.
(gov sig)
1 AN ACT
2 To enact R.S. 6:412(D), relative to the unauthorized use of certain terms as part of a name
3 or title; to provide exceptions; and to provide for related matters.
4 Be it enacted by the Legislature of Louisiana:
5 Section 1. R.S. 6:412(D) is hereby enacted to read as follows:
6 ยง412. Unauthorized use of the word "bank" or similar words
7 * * *
8 D. Nothing in this Section shall be construed to prevent the use of the
9 word "trust", "trustee", "trust company" or any word of similar import as part
10 of a name or title in a context clearly not purporting to refer to engaging in a
11 general trust, trustee, or trust company business.
12 Section 2. This Act shall become effective upon signature by the governor or, if not
13 signed by the governor, upon expiration of the time for bills to become law without signature
14 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
15 vetoed by the governor and subsequently approved by the legislature, this Act shall become
16 effective on the day following such approval.
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 150
SLS 19RS-396 ENGROSSED
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Morgan B. Robertson.
DIGEST
SB 150 Engrossed 2019 Regular Session Thompson
Present law prohibits any person other than a licensed financial institution from using the
word "bank", "banker", "trust", "trustee", "trust company", or any other word of similar
import as part of its name or title.
Present law provides limited exceptions.
Proposed law retains present law and further provides that present law shall not prevent the
use of the word "trust", "trustee", "trust company" or any other word of similar import as
part of a name or title in a context clearly not purporting to refer to engaging in a general
trust, trustee, or trust company business.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Adds R.S. 6:412(D))
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.