Louisiana § RS 6:1401 - Definitions
Full text of Louisiana Louisiana Civil Code § RS 6:1401 — Definitions, with citation guidance and answers to common questions.
§ RS 6:1401. Definitions
As used in this Chapter, the following words have the following meanings:
(1) "Custody services" means the safekeeping or custody of virtual currency or other assets by a financial institution or trust company.
(2) "Financial institution" means a federally insured depository institution chartered pursuant to the laws of this state, another state, or the United States.
(3) "Self-assessment" means either of the following:
(a) A financial institution's or trust company's voluntary, self-initiated internal assessment, audit, or review of the financial institution or trust company and its practices, policies, and procedures.
(b) A financial institution's or trust company's voluntary, self-initiated assessment, audit, or review of the practices, policies, and procedures of a person acting under contract, directly or indirectly, as the financial institution's or trust company's service provider, including mortgage servicers and subservicers, credit and debit card processors, and providers of loan document systems.
(4) "Trust company" means a corporation or a limited liability trust company organized in accordance with this Title, the laws of another state, or pursuant to the laws of the United States, including a trust company organized pursuant to the laws of this state before June 27, 2003, or an entity chartered to act as a fiduciary that is neither a depository institution nor a foreign bank.
(5) "Virtual currency" has the same meaning as provided for in R.S. 6:1382.
Acts 2022, No. 509, §1.
Frequently Asked Questions About Louisiana § RS 6:1401
What does Louisiana Civil Code § RS 6:1401 cover?
Section RS 6:1401 ("Definitions") is part of the Louisiana Civil Code, the codified statutory law of Louisiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Louisiana § RS 6:1401?
A common citation format is "Louisiana Civil Code § RS 6:1401" (Louisiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Louisiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Louisiana official source linked on this page or consult a licensed Louisiana attorney.
How does Louisiana § RS 6:1401 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Louisiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Louisiana.