§ 6:1141 — Regulatory powers; promulgation of rules and regulations

Louisiana § 6:1141

• Jurisdiction: Louisiana
• Title 6: Banks and Banking

Text

§1141. Regulatory powers; promulgation of rules and regulations
A. The commissioner of financial institutions shall have the power to
enact and promulgate rules and regulations as may be necessary or appropriate
to implement the provisions of this Chapter. When making rules and
regulations pursuant to this power, the commissioner shall consider among
other matters the impact any such rule or regulation will have on a
dual-banking system as well as the impact any such rule or regulation will have
on the public interest in the business of banking. The commissioner may also
consider the regulations of the Comptroller of the Currency, the Federal
Reserve Board, and the Federal Home Loan Bank Board to allow financial
institutions organized under the laws of this state to offer services consistent
with services offered by financial institutions organized under the laws of the
United States.
B. All regulations enacted and promulgated under this Section shall be
subject to the provisions of R.S. 49:951, 953, 956, and 961, and prior to the
promulgation of any such rule or regulation, the commissioner shall give each
financial institution organized under this Chapter affected by the rule or
regulation written notification of the content of such rule and regulation and
the date and time of any public hearing held pursuant to those statutes. The
commissioner shall provide notice at least ten days prior to the adoption of
such rule or regulation, but the failure of a particular financial institution to
receive notice thereof shall not affect the validity of such rule or regulation.

Legislative History

Acts 1990, No. 816, §1, eff. Sept. 1, 1990.