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Can you summarize LAAC Title 10, Part III, Chapter 3, Section 313?
Legal Lending Limit ExceptionReal Estate Financing > Definitions
Short Summary
This document is a part of the Louisiana Administrative Code and specifically falls under the Financial Institutions, Consumer Credit, Investment Securities and UCC section. It pertains to the Banking category, specifically the Powers Subchapter A. Miscellaneous Lending, and focuses on the Legal Lending Limit ExceptionReal Estate Financing. The document defines various terms used in the regulations, including the Commissioner of Financial Institutions, Directors, Executive Officers, and Principal Shareholders of the Originating Bank, Lending Limit(s), Other Real Estate, and State Bank or Bank. It is promulgated in accordance with Act 1129 of 1992 and was originally promulgated by the Department of Economic Development, Office of Financial Institutions in January 1993.
Whom does it apply to?
Commissioner, Directors, Executive Officers, and Principal Shareholders of the Originating Bank, State Bank or Bank
What does it govern?
Louisiana Administrative Code >> Financial Institutions, Consumer Credit, Investment Securities and UCC (Last Amended Date: February 2023) >> Banking >> Powers Subchapter A. Miscellaneous Lending >> Legal Lending Limit ExceptionReal Estate Financing
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Louisiana