1. A. Definitions. For purposes of this Section, the definitions provided in §§509 and 510 are applicable.

2. B. Combined Prior Notification

   1. 1. Any Louisiana financial institution seeking to operate at the same location, a loan production office, a deposit production office, and an electronic financial terminal, or any combination of these facilities, shall provide written notice to the commissioner at least 45 days prior to the proposed opening date.
   2. 2. A Louisiana financial institution may satisfy the notice requirements of R.S. 6:452 and 453 by submitting one combined written notice to the commissioner pursuant to this Section.
3. C. Upon receiving the written notice, the commissioner has 45 days to object. If the commissioner does not raise a timely objection, the Louisiana financial institution may proceed with opening the combined facility. If the commissioner raises an objection, the commissioner shall, upon request, notify the Louisiana financial institution in writing as to the nature of the objection. The commissioner may consider the reasons for objection set forth in §§509.C and 510.C of this Chapter.
4. E. Effective Date. This rule shall become effective upon final publication.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 6:454.

Historical Note

HISTORICAL NOTE: Promulgated by the Office of the Governor, Office of Financial Institutions, LR 46:1392 (October 2020).