La. Rev. Stat. § 6:612
Transactions in trust company shares or participation shares
Louisiana · Louisiana Revised Statutes Title 6 — Banks and Banking · Status: effective
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- Citation
- La. Rev. Stat. § 6:612, Transactions in trust company shares or participation shares, Louisiana, version 1 as recorded 2026-10-04, yourstate.us, https://yourstate.us/provision/2636330
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Full text
A. A trust company may acquire its own shares or participation shares if the amount of its undivided profits is sufficient to absorb fully the acquisition of the shares or participation shares under regulatory accounting principles, or if the trust company obtains the prior written approval of the commissioner.
B. A trust company may acquire a lien upon its own shares or participation shares if the aggregate amount of indebtedness so secured is less than the amount of the trust company's undivided profits, or the trust company obtains the prior written approval of the commissioner.