La. Rev. Stat. § 6:1202
This is the official text of La. Rev. Stat. § 6:1202, part of Louisiana’s Rev. Stat — part of the compiled statutory law of Louisiana, published by the state as "Rev. Stat." Browse the sections below, each linked to its official government source.
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Types of capital; personal property
Official statutory text
A. The capital of a stock savings bank shall be represented by capital stock and noncumulative perpetual preferred stock as authorized by the articles of incorporation, related paid-in surplus, undivided profits, retained earnings, and such other forms of capital deemed to be qualifying capital by the insurance corporation providing insurance of the savings bank's deposits.
B. The capital of a mutual savings bank shall be represented by retained earnings and such other forms of capital deemed to be qualifying capital by the insurance corporation providing insurance of the savings bank's deposits.
C. All shares and capital accounts shall be personal property in the hands of their holders and transferable as provided in this Chapter and the bylaws of the savings bank.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
B. The capital of a mutual savings bank shall be represented by retained earnings and such other forms of capital deemed to be qualifying capital by the insurance corporation providing insurance of the savings bank's deposits.
C. All shares and capital accounts shall be personal property in the hands of their holders and transferable as provided in this Chapter and the bylaws of the savings bank.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
Status: in_force · Read it on the official government site
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