Louisiana § 51:3106 Banking district depository

Louisiana Statutes

§ 51:3106 — Banking district depository

Louisiana § 51:3106

Title 51Trade and Commerce

This text of Louisiana § 51:3106 (Banking district depository) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

La. Stat. Ann. § 51:3106 (2026).

Text

A.The governing body of a local government in which a banking development district has been designated under R.S. 51:3105 may, by resolution, designate a financial institution located in the district as a banking district depository for purposes of R.S. 39:1220 regardless of whether the financial institution is designated as a state depository. All existing financial institutions operating in an area that becomes designated as a banking development district shall be eligible to be designated as a banking district depository for the purposes of this Chapter.

B.A resolution adopted under Subsection A must specify the maximum amount that may be kept on deposit with the banking district depository.

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A. The governing body of a local government in which a banking development district has been designated under R.S. 51:3105 may, by resolution, designate a financial institution located in the district as a banking district depository for purposes of R.S. 39:1220 regardless of whether the financial institution is designated as a state depository. All existing financial institutions operating in an area that becomes designated as a banking development district shall be eligible to be designated as a banking district depository for the purposes of this Chapter.
B. A resolution adopted under Subsection A must specify the maximum amount that may be kept on deposit with the banking district depository.