LAC 10:III.311 – Authority and Purpose

A. This regulation is issued pursuant to the authority provided by §415(7) of Title 6 of the Louisiana Revised Statutes (R.S.).
B. It is the purpose of this regulation to provide a method by which a state bank may exceed lending limit restrictions, imposed by R.S. 6:415(A), when financing the sale of other real estate.

AUTHORITY NOTE: Promulgated in accordance with Act 1129 of 1992.

HISTORICAL NOTE: Promulgated by the Department of Economic Development, Office of Financial Institutions, LR 19:36 (January 1993).