{"data":{"id":"us-la/rs-6-1103","jurisdiction":"us-la","citation":"RS 6:1103","heading":"Commitment and cooling off period","body":"In connection with a conventional reverse mortgage loan, at least seven calendar days prior to closing a reverse mortgage loan, a reverse mortgage lender shall provide the borrower with a loan term sheet or commitment letter outlining the proposed terms of the loan and informing the borrower that the borrower is not obligated to proceed with the loan transaction.","path":["TITLE 6. BANKS AND BANKING"],"source_url":"https://www.legis.la.gov/legis/Law.aspx?d=726455","current_through":"2025 First Extraordinary Session","vintage":"","retrieved_at":"2026-09-14T04:49:05Z","sha256":"7b0fe789ff5cd95e487e6b34bafb0fa0c611a939012e1d90b644aee7d5c14e94","source_id":"us-la","stale":false,"prev":"us-la/rs-6-1102","next":"us-la/rs-6-1104"},"notice":"GroundRules: Original legal text. Not legal advice."}