Louisiana Statutes
§ 6:1103 — Commitment and cooling off period
Louisiana·Title 6 Banks and Banking
In connection with a conventional reverse mortgage loan, at least seven calendar days prior to closing a reverse mortgage loan, a reverse mortgage lender shall provide the borrower with a loan term sheet or commitment letter outlining the proposed terms of the loan and informing the borrower that the borrower is not obligated to proceed with the loan transaction.
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Louisiana § 6:1103 (Commitment and cooling off period) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 2010, No. 418, §1.
Nearby Sections
15
§ 6:1101
§ 6:1101§ 6:1102
Counseling§ 6:1111
§ 6:1111§ 6:1121
§ 6:1121§ 6:1122.1
Defenses to written credit agreements§ 6:1124
No implied fiduciary obligations§ 6:1131
§ 6:1131§ 6:1132
Policy and purposes§ 6:1133
Administration§ 6:1134
Applicability