Louisiana Revised Statutes 6:621 – Borrowing limit
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Terms Used In Louisiana Revised Statutes 6:621
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Trust company: means a corporation or a limited liability trust company organized under this Chapter, including a trust company organized under the laws of this state before June 27, 2003, or an entity chartered to act as a fiduciary that is neither a depository institution nor a foreign bank. See Louisiana Revised Statutes 6:572
Except with the prior written approval of the commissioner, a trust company may not have outstanding liabilities exceeding an amount equal to three times its capital. However, the commissioner may impose a lower limit consistent with the safety and soundness of the trust company.
Acts 2003, No. 573, §1, eff. June 27, 2003.