§ 6:454 — Combination of loan production office, deposit production office, and electronic

§454. Combination of loan production office, deposit production office, and electronic
financial terminal
Any Louisiana state-chartered bank, savings bank, or savings and loan association
may operate, at the same location, a loan production office, a deposit production office, and
an electronic financial terminal, or any combination of these facilities, and it shall not be
considered a branch. Prior to opening a combined loan production office, deposit production
office, and electronic financial terminal, the financial institution shall give written notice to
the commissioner. Prior to opening a combined loan production office and deposit
production office, a financial institution may satisfy the notice requirements of R.S. 6:452
and 453 by giving one combined written notice to the commissioner. Upon receiving the
written notice, the commissioner has forty-five days to object. If the commissioner does not
raise a timely objection, the financial institution may proceed with opening the combined
office. If the commissioner raises an objection, the commissioner shall, upon request, notify
the financial institution in writing as to the nature of the objection.

Legislative History

Acts 2020, No. 183, §1.