Louisiana § RS 6:539 - Agency activities; prohibitions
Full text of Louisiana Louisiana Civil Code § RS 6:539 — Agency activities; prohibitions, with citation guidance and answers to common questions.
§ RS 6:539. Agency activities; prohibitions
A. In accordance with the rules, regulations, policies, and procedures of the office of financial institutions, any Louisiana state-chartered financial institution may receive deposits, renew time deposits, close loans, service loans, and receive payments on loans and other obligations as an agent for any other financial institution.
B. Notwithstanding any other provision of law, any Louisiana financial institution acting as an agent in accordance with Subsection A of this Section shall not be considered to be a branch of the other financial institution for which it acts as agent.
C. In acting as an agent pursuant to this Section, a state-chartered bank may:
(1) Conduct any activity which such institution is not prohibited from conducting as a principal under any applicable federal or state law, or
(2) As a principal, have an agent conduct under this Section any activity which the institution is not prohibited from conducting under any applicable federal or state law.
D. No provision of this Section shall be construed as affecting either of the following:
(1) The authority of any financial institution to act as an agent on behalf of any other financial institution under any other provision of law.
(2) Whether a financial institution which conducts any activity as an agent on behalf of any other financial institution under any other provision of law shall be considered to be a branch of such other institution.
E. Agency relationships by and between financial institutions as provided in this Section shall be on terms that are consistent with safe and sound banking practices and all applicable regulations of any appropriate state or federal banking supervisory agency.
Acts 1986, No. 577, §1, eff. July 2, 1986; Acts 1995, No. 1249, §1.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 6:539
What does Louisiana Civil Code § RS 6:539 cover?
Section RS 6:539 ("Agency activities; prohibitions") 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 6:539?
A common citation format is "Louisiana Civil Code § RS 6:539" (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 6:539 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.