---
urn: urn:us-la:rs:51:3106
citation: "R.S. 51:3106"
status: active
breadcrumb: "Title 51 › Chapter 53"
acts_citations:
  - { year: 2007, number: 255, section: 1, effective_date: null, role: enactment }
---

# Banking district depository

A. The governing body of a local government in which a banking development district has been designated under R.S. 51:3105 may, by resolution, designate a financial institution located in the district as a banking district depository for purposes of R.S. 39:1220 regardless of whether the financial institution is designated as a state depository. All existing financial institutions operating in an area that becomes designated as a banking development district shall be eligible to be designated as a banking district depository for the purposes of this Chapter.

B. A resolution adopted under Subsection A must specify the maximum amount that may be kept on deposit with the banking district depository.