La. Admin. Code tit. 10 § VII-309
Current through Register Vol. 50, No. 11, November 20, 2024
Section VII-309 - Determination of Amount of Qualifying DepositsA. Unless otherwise provided in the plan of conversion, the amount of the qualifying deposit of an eligible account holder or a supplemental eligible account holder shall be the total of the deposit balances in the person's deposit accounts in the converting savings bank as of the close of business on the eligibility record date or the supplemental eligibility record date. However, the plan of conversion may provide that any deposit accounts with total deposit balances of less than $100 shall not constitute a qualifying deposit. In this Section, "deposit account" includes a predecessor or successor account of a given deposit account which is held only in the same right and capacity and on substantially the same terms and conditions as the given deposit account. However, the plan of conversion may provide for lesser requirements for consideration as a predecessor or successor account.La. Admin. Code tit. 10, § VII-309
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.