§532. Definitions
As used in this Part, unless the context otherwise requires, the term:
(1)"Acquire", as applied to a bank holding company, means any of the following
actions or transactions by a company:
(a)The merger or consolidation with one or more bank holding companies.
(b)The assumption of direct or indirect ownership or control of any of the following:
(i)More than twenty-five percent of any class of voting shares of a bank holding
company or a bank, if the acquiring company was not a bank holding company prior to such
acquisition.
(ii)More than five percent of any class of voting shares of a bank holding company
or a bank, if the acquiring company was a bank holding company prior to such acquisition.
(iii)All or substantially all of the assets of a bank holding company or a
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§532. Definitions
As used in this Part, unless the context otherwise requires, the term:
(1) "Acquire", as applied to a bank holding company, means any of the following
actions or transactions by a company:
(a) The merger or consolidation with one or more bank holding companies.
(b) The assumption of direct or indirect ownership or control of any of the following:
(i) More than twenty-five percent of any class of voting shares of a bank holding
company or a bank, if the acquiring company was not a bank holding company prior to such
acquisition.
(ii) More than five percent of any class of voting shares of a bank holding company
or a bank, if the acquiring company was a bank holding company prior to such acquisition.
(iii) All or substantially all of the assets of a bank holding company or a bank.
(c) To take any other action that results in the direct or indirect acquisition or control
by such company of a bank holding company or a bank.
(2) "Affiliate" means any company that controls, is controlled by, or is under
common control with another company.
(3) "Bank" means any "insured bank", as such term is defined in Section 3(h) of the
Federal Deposit Insurance Act, 12 U.S.C. 1813(h), or any institution eligible to become an
insured bank as such term is defined therein, which, in either event:
(a) Accepts demand deposits, and
(b) Makes commercial loans.
(4) "Banking office" means any branch of an out-of-state bank.
(5) "Bank holding company" means any company that directly or indirectly controls
a bank, and, unless the context requires otherwise, includes a Louisiana bank holding
company, an out-of-state bank holding company, or a foreign bank holding company.
(6) "Branch" and "branch office" means any manned office of a bank but shall not
include a trust production office, an automated teller machine, electronic funds transfer
terminal, point of sale terminal, or similar electronic device or terminal. The term "branch"
or "branch office" shall not include a loan production office or deposit production office or
any combination thereof.
(7) "Commissioner" means the commissioner of financial institutions for the state
of Louisiana.
(8) "Company" means any corporation, business trust, partnership, association, or
similar organization, including a bank, but shall not include any corporation the majority of
the shares of which are owned by the United States or by any state.
(9)(a) "Control" means any of the following:
(i) The power or ability, directly or indirectly, to vote or cause to be voted
twenty-five percent or more of any class of voting securities of a company.
(ii) The power or ability in any manner to elect a majority of the directors or trustees
of a company.
(b) This definition shall be construed consistently with the provisions of Section 2(a)
of the Bank Holding Company Act, 12 U.S.C. 1841.
(10) "Deposits" means average daily deposits for a continuous period of six months
ending on the date the determination of deposits is made.
(10.1) "Enter Louisiana" means to acquire control of the voting stock of a Louisiana
bank or bank holding company owning one or more Louisiana banks. Additionally, it shall
also include the acquisition of voting stock whereby the out-of-state bank or holding
company does not obtain control of the voting stock but acquires a majority interest in any
nonvoting stock or subordinated debt.
(11) "Established Louisiana bank" means a Louisiana bank which either:
(a) Has been in existence and actively engaged in business as a Louisiana bank for
at least five years; or
(b) Is the successor by merger, consolidation, or purchase of the assets and
assumption of the liabilities of a Louisiana bank which meets the test of Subparagraph (a)
of this Paragraph.
(12) "Home state" means:
(a) With respect to a national bank, the state in which the main office of the bank is
located.
(b) With respect to a state-chartered bank, the state which charters the institution.
(c) With respect to a bank holding company, the state in which the total deposits of
all bank subsidiaries are the largest on the later of:
(i) July 1, 1966, or
(ii) The date upon which the company becomes a bank holding company pursuant
to this Part.
(13) "Host state" means:
(a) With respect to a bank, a state, other than the home state of the bank in which
the bank maintains, or seeks to establish and maintain, a branch or a loan or trust production
office, and
(b) With respect to a bank holding company, a state, other than the home state of the
company in which the company controls, or seeks to control, a bank subsidiary.
(14) "Louisiana bank" means a bank that has Louisiana as its home state.
(15) "Louisiana bank holding company" means a bank holding company that has
Louisiana as its home state.
(16) "Out-of-state bank" means a bank other than a Louisiana bank.
(17) "Out-of-state bank holding company" means a bank holding company other than
a Louisiana bank holding company.
(18) "Principal place of business" of a bank holding company means the state in
which the aggregate deposits of the bank subsidiaries of such holding company are the
largest.
(19) "Subsidiary" with respect to any bank holding company means any of the
following:
(a) Any company twenty-five percent or more of the voting shares of which,
excluding shares owned by the United States or by any company wholly owned by the United
States, is directly or indirectly owned or controlled by such bank holding company or is held
by it with power to vote.
(b) Any company the election of a majority of the directors of which is controlled
in any manner by such bank holding company.
(c) Any company twenty-five percent or more of the voting shares of which is held
by trustees for the benefit of the shareholders of such bank holding company.