LAC 10:III.507 – Separate Records and Funds

A. The books and records of the mortgage corporation subsidiary shall be kept separate and distinct from those of the parent or other subsidiaries and funds of the parent or other subsidiaries shall not be commingled with those of the subsidiary mortgage corporation.

AUTHORITY NOTE: Promulgated in accordance with R.S. 6:237(B).

HISTORICAL NOTE: Promulgated by the Department of Commerce, Office of Financial Institutions, LR 13:740 (December 1987).