Louisiana Revised Statutes 6:1388.1 – A. A licensee shall submit through the NMLS quarterly financial reports, including transactional information, within forty-five days following the close of each calendar quarter, in
Terms Used In Louisiana Revised Statutes 6:1388.1
- Commissioner: means the commissioner of the office of financial institutions. See Louisiana Revised Statutes 6:1382
- Licensee: means a person licensed pursuant to this Chapter. See Louisiana Revised Statutes 6:1382
- NMLS: means the multistate system developed by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators and owned and operated by the State Regulatory Registry LLC, or any successor or affiliated entity, for the licensing and registration of persons in financial services industries or any other similar online multistate database. See Louisiana Revised Statutes 6:1382
- Virtual currency: means a digital representation of value that is used as a medium of exchange, unit of account, or store of value, and that is not legal tender, whether or not denominated in legal tender. See Louisiana Revised Statutes 6:1382
A. A licensee shall submit through the NMLS quarterly financial reports, including transactional information, within forty-five days following the close of each calendar quarter, in the form and containing such information as the commissioner shall prescribe, including both of the following:
(1) A statement of the financial condition of the licensee, including a balance sheet and income sheet, along with transactional information, all in United States currency, relating to virtual currency balances held on behalf of residents, virtual currency balances not held on behalf of residents, and other investments.
(2) A certification of the financial reports by an officer or member of the board of directors, or an equivalent governing body of the licensee, attesting to the truth and correctness of such reports.
B. In addition, each licensee shall submit special reports to the commissioner at such times and in such form as the commissioner may require.
Acts 2023, No. 331, §1, eff. June 13, 2023.
NOTE: The provisions of Acts 2023, No. 331, will terminate on July 1, 2025.