Louisiana § RS 6:551.3 - Subsidiary bank; authorization
Full text of Louisiana Louisiana Civil Code § RS 6:551.3 — Subsidiary bank; authorization, with citation guidance and answers to common questions.
§ RS 6:551.3. Subsidiary bank; authorization
A. A foreign bank may establish a subsidiary bank in this state subject to the provisions of this Chapter and applicable federal law.
B. A foreign bank may acquire a subsidiary bank in this state in accordance with the federal Bank Holding Company Act and other applicable federal and state law.
C.(1) A foreign bank may operate a subsidiary bank in this state by organizing a new bank in this state either under a charter issued by the office of the comptroller of the currency under the National Bank Act or a state charter issued by the commissioner of financial institutions.
(2) An application for a state-chartered subsidiary bank shall be submitted to the commissioner of financial institutions and shall comply with all applicable provisions of state law.
D. All deposits in the subsidiary bank shall be insured by the Federal Deposit Insurance Corporation.
E. A subsidiary bank of a foreign bank shall have the same banking powers, subject to the same restrictions, limitations, reporting, and other requirements as domestic banks and may engage in the same banking activities as other domestic banks.
Acts 2004, No. 420, §1.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 6:551.3
What does Louisiana Civil Code § RS 6:551.3 cover?
Section RS 6:551.3 ("Subsidiary bank; authorization") 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 6:551.3?
A common citation format is "Louisiana Civil Code § RS 6:551.3" (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 6:551.3 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.