Louisiana Revised Statutes 6:923 – Exemption from security laws
Terms Used In Louisiana Revised Statutes 6:923
- Association: means a savings association, thrift institution, homestead, building and loan association, savings and loan association, or society, including both capital stock and mutual associations. See Louisiana Revised Statutes 6:703
- Commissioner: means the commissioner of financial institutions, of the state of Louisiana, in his capacity as supervisor of associations. See Louisiana Revised Statutes 6:703
- Stock: means capital stock of a capital stock association. See Louisiana Revised Statutes 6:703
Associations, their officers, employees or agents, savings or demand accounts, shares and stock, and the sale, issuance, or offering of savings or demand accounts, stock or shares of any association are hereby exempted from all provisions of law of this state, other than this Chapter, which provide for supervision, reporting, registration, or regulation in connection with the sale, issuance, or offering of securities, and the sale, issuance, or offering of any shares, stock or savings or demand accounts shall be legal without any action or approval whatsoever on the part of any official, other than the commissioner, authorized to license, regulate, or supervise the sale, issuance, or offering of securities.
Acts 1970, No. 234, §1. Acts 1983, No. 675, §1.