{
  "urn": "urn:us-la:rs:6:542",
  "title_number": "6",
  "section_number": "542",
  "citation": "R.S. 6:542",
  "heading": "Definitions",
  "text": "The following definitions shall apply for purposes of this Part:\n\n(1) \"Bank\" means a banking or similar corporation organized under the banking or currency laws of the United States of America or of this state which:\n\n(a) Makes commercial or consumer loans; or\n\n(b) Accepts deposits; and\n\n(c) Is eligible for insurance by the Federal Deposit Insurance Corporation.\n\n(2) \"Bank holding company\" means \"bank holding company\" as defined in R.S. 6:512(A)(1) and includes bank holding companies domiciled in other states.\n\n(3) \"Financial service center bank\" means a bank organized and operating in accordance with the provisions of this Part.\n\n(4)(a) \"Louisiana borrower\" or \"Louisiana customer\" means any of the following:\n\n(i) A person domiciled in Louisiana.\n\n(ii) A corporation, partnership, or trust organized under Louisiana law.\n\n(iii) A corporation, partnership, or trust organized under the laws of another state which has its principal offices in Louisiana.\n\n(iv) A Louisiana governmental agency or instrumentality.\n\n(b) \"Louisiana borrower\" does not include a Louisiana guarantor of a loan to a borrower domiciled outside of Louisiana or an employee of the financial service center bank.\n\n(5) \"Resident\" means anyone living in Louisiana at the time of acquiring a license of institution.",
  "status": "active",
  "hierarchy_path": [
    {
      "level": "title",
      "number": "6",
      "name": "BANKS AND BANKING"
    },
    {
      "level": "chapter",
      "number": "6",
      "name": "BANK STRUCTURE"
    },
    {
      "level": "part",
      "number": "V",
      "name": "FINANCIAL SERVICE CENTER BANKS"
    }
  ],
  "breadcrumb": "Title 6 › Chapter 6 › Part V",
  "acts_citations": [
    {
      "act_year": 1987,
      "act_number": 808,
      "section": 1,
      "effective_date": null,
      "effective_date_raw": null,
      "role": "enactment"
    }
  ],
  "acts_citations_raw": "Acts 1987, No. 808, §1.",
  "source_url": "https://legis.la.gov/legis/Law.aspx?d=106023",
  "website_law_id": 106023,
  "scrape_timestamp": "2026-05-22T23:51:44Z",
  "source_html_hash": "sha256:365cca6ca95f30b9180948500299090902cb9cb17dce5c4cb97f89c2b1551d74",
  "schema_version": "1.0.0"
}