La. Rev. Stat. § 6:1039
Maintenance of bond
Louisiana · Louisiana Revised Statutes Title 6 — Banks and Banking · Status: effective
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- Citation
- La. Rev. Stat. § 6:1039, Maintenance of bond, Louisiana, version 1 as recorded 2026-10-04, yourstate.us, https://yourstate.us/provision/2636656
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Full text
After a license is granted, the licensee shall maintain its bond in the amount prescribed by R.S. 6:1037. If the commissioner determines at any time that the bond is insecure or deficient in amount, he shall by written order require the filing of a new or supplemental bond; however, such determination and bond requirement shall not be unreasonable, arbitrary, or capricious. If the order is not complied with within thirty days following service by certified mail upon the licensee, the commissioner shall suspend the authority of the licensee to transmit money or sell checks in Louisiana and shall commence proceedings to revoke the license.