§ 6:1252 — Prohibited activities

Louisiana § 6:1252

• Jurisdiction: Louisiana
• Title 6: Banks and Banking

Text

A. No savings bank shall participate, directly or indirectly, in the sale or transfer of any equity or debt security or instrument of any affiliate of the savings bank or the parent holding company of the savings bank or its affiliates.
B. No shareholder, director, officer, employee, or agent of the savings bank shall participate, directly or indirectly, in any sale or transfer as described in Subsection A of this Section, nor shall he allow any other person to do so, on the premises of the savings bank, any of its branch or facility offices, agency offices, or any office of the savings bank's subsidiaries or service corporations.
C. Violation of this prohibition shall subject the person committing such violation to assessment of civil money penalties as provided for in this Title.

Legislative History

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