Louisiana Revised Statutes 6:1387 – A. No license shall be issued unless the commissioner has made a determination that the applicant has met the licensing requirements pursuant to this Chapter, including all requireme
Terms Used In Louisiana Revised Statutes 6:1387
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Applicant: means a person who applies for a license pursuant to this Chapter. See Louisiana Revised Statutes 6:1382
- Commissioner: means the commissioner of the office of financial institutions. See Louisiana Revised Statutes 6:1382
- Control: when used in the context described, means the following:
(a) When used in reference to a transaction or relationship involving virtual currency, power to execute unilaterally or prevent indefinitely a virtual currency transaction. See Louisiana Revised Statutes 6:1382
- Licensee: means a person licensed pursuant to this Chapter. See Louisiana Revised Statutes 6:1382
- Office: means the office of financial institutions. See Louisiana Revised Statutes 6:1382
- Responsible individual: means any individual who is ultimately responsible for establishing or directing policies and procedures of the licensee, including but not limited to an executive officer, manager, director, or trustee. See Louisiana Revised Statutes 6:1382
A. No license shall be issued unless the commissioner has made a determination that the applicant has met the licensing requirements pursuant to this Chapter, including all requirements of La. Rev. Stat. 6:1385 and 1386.
B. An applicant may appeal a denial of its application pursuant to La. Rev. Stat. 6:1385, in accordance with the Administrative Procedure Act, not later than thirty days after the office notifies the applicant of the denial or the application is deemed denied.
C. In the case of a denial of an advanced change of control notice, or denial of an advanced change of responsible individual notice, pursuant to either La. Rev. Stat. 6:1385.1 or 1385.2, in accordance with the Administrative Procedure Act, the applicant or licensee may appeal the denial not later than thirty days after the office notifies the applicant or licensee of the denial of the advanced change of control notice, or the denial of an advanced change of responsible individual notice, or in either case, the change is deemed denied.
Acts 2020, No. 341, §1; Acts 2023, No. 331, §1, eff. June 13, 2023.
NOTE: The provisions of Acts 2023, No. 331, will terminate on July 1, 2025.