La. Admin. Code tit. 10 § I-1301
Current through Register Vol. 50, No. 9, September 20, 2024
Section I-1301 - Corporate TitleA. A federal savings association may use the word "bank" in its title since this word is not considered to misrepresent the nature of this institution or the services it offers. Similarly, R.S. 6:712(A)states that "an association shall not adopt a corporate name which indicates or implies that it is organized for any purpose other than one or more of the purposes contained in its articles of incorporation." Since savings associations are chartered to conduct the "business of banking," as defined in R.S. 6:2(3), the commissioner deems it necessary and in the best interest of state-chartered associations to grant parity with federal savings associations and allow the inclusion of the word "bank" in their corporate names.La. Admin. Code tit. 10, § I-1301
Promulgated by Office of Governor, Office of Financial Institutions, LR 32:2055 (November 2006).AUTHORITY NOTE: Promulgated in accordance with R.S. 6:902(B).