Terms Used In Louisiana Revised Statutes 9:173

  • Administrator: means the state treasurer. See Louisiana Revised Statutes 9:153
  • Business association: means a corporation, joint stock company, investment company, partnership, unincorporated association, joint venture, limited liability company, business trust, trust company, savings and loan association, building and loan association, savings bank, industrial bank, land bank, safe deposit company, safekeeping depository, bank, banking organization, financial organization, insurance company, mutual fund, credit union, utility, or other business entity consisting of one or more persons, whether or not for profit. See Louisiana Revised Statutes 9:153
  • Holder: means a person obligated to hold for the account of, or deliver or pay to, the owner of property that is subject to this Chapter. See Louisiana Revised Statutes 9:153
  • Property: means a fixed and certain interest in intangible property that is held, issued, or owed in the course of a holder's business, or by a government or governmental entity, and all income or increments therefrom. See Louisiana Revised Statutes 9:153
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Louisiana Revised Statutes 9:153
  • State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or insular possession subject to the jurisdiction of the United States. See Louisiana Revised Statutes 9:153

A.  A holder required to file a report under La. Rev. Stat. 9:159 shall maintain its records containing the information required to be included in the report until the holder files the report and for ten years after the date of filing, unless a shorter time is provided in Subsection B or C of this Section or by rule of the administrator.

B.  A business association that sells, issues, or provides to others for sale or issue in this state, traveler’s checks, money orders, or similar written instruments other than third-party bank checks, on which the business association is directly liable, shall maintain a record of the instruments while they remain outstanding, indicating the state and date of issue, for three years after the date the property becomes reportable.

C.(1)  A federally insured financial institution shall maintain its report filed pursuant to La. Rev. Stat. 9:159 for six years after the date the report is filed.

(2)  For purposes of this Chapter, a federally insured financial institution shall maintain its records containing the information required to be included in the report until the holder files the report and for six years after the date of filing.

Acts 1986, No. 829, §1, eff. July 10, 1986; Acts 1997, No. 809, §1, eff. July 10, 1997; Acts 2013, No. 247, §2.

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