Usufruct
R.S. 6:371

Voluntary liquidations and dissolutions of solvent banks with prior approval of commissioner ACTIVE

A. The stockholders of a state bank, by vote of two-thirds of the total voting power of the corporation or such larger vote as the articles may require, at a special meeting of the stockholders the notice of which shall set forth the proposed dissolution as the purpose of the meeting, may agree to appoint a liquidator and dissolve the state bank.

B. If the public interest will thereby be served, the commissioner shall approve the liquidation unless the bank is insolvent or in an impaired, unsafe, or unsound condition.

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JSON Markdown Source (legis.la.gov)

References

None.

Cited by

History

  • enactment Acts 1984, No. 719, §1, eff. Jan. 1, 1985
  • amendment Acts 1989, No. 396, §1

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Cite R.S. 6:371

Bluebook
La. Rev. Stat. Ann. § 6:371 (2026).
Permalink
https://theusufruct.com/rs/title-6/section-371
BibTeX
@misc{larevstat-6-371,
  title        = {La. Rev. Stat. Ann. § 6:371},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-6/section-371},
  note         = {Snapshot 2026-05-22}
}