La. Rev. Stat. § 6:387
This is the official text of La. Rev. Stat. § 6:387, 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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Decision to liquidate bank or terminate conservatorship
Official statutory text
A. After conducting such investigations as circumstances may require and within six months of the initial filing of the petition pursuant to R.S. 6:382, the conservator shall terminate the conservatorship of the state bank or commence liquidation of the state bank if the state bank is insolvent, has had its deposit insurance with the Federal Deposit Insurance Corporation terminated, or is subject to an agreement or a final order to terminate that insurance. The conservator shall consult with the board of directors of the bank before making such decision.
B. If the conservator shall decide to terminate his possession of the state bank, he shall file a motion in the receivership court requesting dismissal of his petition. Upon the issuance of that order, the conservator shall relinquish management and control of the bank.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 1987, No. 107, §1.
B. If the conservator shall decide to terminate his possession of the state bank, he shall file a motion in the receivership court requesting dismissal of his petition. Upon the issuance of that order, the conservator shall relinquish management and control of the bank.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 1987, No. 107, §1.
Status: in_force · Read it on the official government site
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