La. Rev. Stat. § 6:542
This is the official text of La. Rev. Stat. § 6:542, 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.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Definitions
Official statutory text
The following definitions shall apply for purposes of this Part:
(1) "Bank" means a banking or similar corporation organized under the banking or currency laws of the United States of America or of this state which:
(a) Makes commercial or consumer loans; or
(b) Accepts deposits; and
(c) Is eligible for insurance by the Federal Deposit Insurance Corporation.
(2) "Bank holding company" means "bank holding company" as defined in R.S. 6:512(A)(1) and includes bank holding companies domiciled in other states.
(3) "Financial service center bank" means a bank organized and operating in accordance with the provisions of this Part.
(4)(a) "Louisiana borrower" or "Louisiana customer" means any of the following:
(i) A person domiciled in Louisiana.
(ii) A corporation, partnership, or trust organized under Louisiana law.
(iii) A corporation, partnership, or trust organized under the laws of another state which has its principal offices in Louisiana.
(iv) A Louisiana governmental agency or instrumentality.
(b) "Louisiana borrower" does not include a Louisiana guarantor of a loan to a borrower domiciled outside of Louisiana or an employee of the financial service center bank.
(5) "Resident" means anyone living in Louisiana at the time of acquiring a license of institution.
Acts 1987, No. 808, §1.
(1) "Bank" means a banking or similar corporation organized under the banking or currency laws of the United States of America or of this state which:
(a) Makes commercial or consumer loans; or
(b) Accepts deposits; and
(c) Is eligible for insurance by the Federal Deposit Insurance Corporation.
(2) "Bank holding company" means "bank holding company" as defined in R.S. 6:512(A)(1) and includes bank holding companies domiciled in other states.
(3) "Financial service center bank" means a bank organized and operating in accordance with the provisions of this Part.
(4)(a) "Louisiana borrower" or "Louisiana customer" means any of the following:
(i) A person domiciled in Louisiana.
(ii) A corporation, partnership, or trust organized under Louisiana law.
(iii) A corporation, partnership, or trust organized under the laws of another state which has its principal offices in Louisiana.
(iv) A Louisiana governmental agency or instrumentality.
(b) "Louisiana borrower" does not include a Louisiana guarantor of a loan to a borrower domiciled outside of Louisiana or an employee of the financial service center bank.
(5) "Resident" means anyone living in Louisiana at the time of acquiring a license of institution.
Acts 1987, No. 808, §1.
Status: in_force · Read it on the official government site
Need a lawyer in Louisiana?
Find a Louisiana lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.