Usufruct
R.S. 6:416

Loan on pledge of own stock and pledge of own stock prohibited ACTIVE

A. Except as otherwise provided by rule or regulation promulgated by the commissioner, no loan shall be made by any bank to any borrower on pledge of the bank's own stock or the stock of its parent company. Except as provided in R.S. 6:263(C) and Subsection B of this Section, a state bank may not purchase or redeem any of its own stock or the stock of its parent company.

B. A state bank may acquire its own stock or the stock of its parent company for a debt previously contracted, in which case the stock shall not be held for more than one year, subject to extension by the commissioner.

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JSON Markdown Source (legis.la.gov)

References

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History

  • enactment Acts 1984, No. 719, §1, eff. Jan. 1, 1985
  • amendment Acts 1991, No. 371, §1, eff. July 6, 1991
  • amendment Acts 1997, No. 1003, §1
  • amendment Acts 2001, No. 529, §1, eff. June 21, 2001
  • amendment Acts 2003, No. 570, §1, eff. June 27, 2003

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Cite R.S. 6:416

Bluebook
La. Rev. Stat. Ann. § 6:416 (2026).
Permalink
https://theusufruct.com/rs/title-6/section-416
BibTeX
@misc{larevstat-6-416,
  title        = {La. Rev. Stat. Ann. § 6:416},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-6/section-416},
  note         = {Snapshot 2026-05-22}
}