La. Admin. Code tit. 10 § VII-301
Current through Register Vol. 50, No. 11, November 20, 2024
A. This rule is enacted pursuant to the Louisiana Savings Bank Act of 1990. Except as the commissioner may otherwise determine, the provisions of this rule shall exclusively govern the conversion of Louisiana state-chartered savings banks from mutual to capital stock and no state savings bank shall convert to the capital stock form without the prior written approval of the commissioner. The commissioner may grant a waiver in writing from any requirement of this rule for good cause shown. The commissioner may adopt policies and procedures interpreting and implementing this rule. This rule supersedes all inconsistent articles of incorporation and bylaws of mutual savings banks converting to the stock form.La. Admin. Code tit. 10, § VII-301
Promulgated by the Department of Economic Development, Office of Financial Institutions, LR 21:1069 (October 1995).AUTHORITY NOTE: Promulgated in accordance with R.S. 6:1141.