Louisiana § RS 6:545 - Powers and functions
Full text of Louisiana Louisiana Civil Code § RS 6:545 — Powers and functions, with citation guidance and answers to common questions.
§ RS 6:545. Powers and functions
A. Financial service center banks shall have all of the powers and functions authorized in Part IV of Subchapter A of Chapter 3 of this Title, except that a financial service center bank or any subsidiary thereof may not:
(1) Make or purchase a loan or other extension of credit to a Louisiana borrower.
(2) Accept deposits from a Louisiana customer.
(3) Be the lessor of movable property to be initially located in this state.
(4) Perform trust services for a Louisiana customer.
(5) Perform discount brokerage services for a Louisiana customer.
(6) Advertise for loans, deposits, leases of movable property, trust or discount brokerage services, where such advertisements are primarily directed to Louisiana customers.
(7) Advertise in any manner, directly or indirectly, as being engaged in the business of banking in this state, unless such advertisements are primarily directed towards non-Louisiana residents or companies.
(8) Maintain teller windows or drive-up facilities at any location within this state.
(9) Own or operate electronic funds terminals at any location within this state.
B. Notwithstanding the provisions of R.S. 6:545(A)(1), a financial service center bank may purchase a participation interest in a loan or other extension of credit to a Louisiana borrower where such a participation interest is purchased from a bank or other lender domiciled outside of Louisiana or from a non-affiliated bank or savings and loan association with its principal offices in this state.
C. A financial service center bank may make a loan or other extension of credit to a non-Louisiana borrower that is secured by immovable or movable property located in Louisiana.
D. A financial service center bank may enter into agreements for sharing electronic funds terminals with financial institutions domiciled in this state, subject to the restrictions contained in R.S. 6:545(A)(9).
Acts 1987, No. 808, §1.
Frequently Asked Questions About Louisiana § RS 6:545
What does Louisiana Civil Code § RS 6:545 cover?
Section RS 6:545 ("Powers and functions") 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 6:545?
A common citation format is "Louisiana Civil Code § RS 6:545" (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 6:545 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.