{"data":{"id":"us-la/rs-6-544","jurisdiction":"us-la","citation":"RS 6:544","heading":"Organization of financial service center banks","body":"A. Financial service center banks shall be organized in the manner provided in Subchapter A of Chapter 3 of this Title, except that:\n(1) The articles of incorporation of a financial service center bank shall expressly provide that such bank shall limit its activities to only those authorized in this Part.\n(2) At least one of the organizers or directors of a financial service center bank must be a resident of Louisiana.\n(3) A financial service center bank shall include the phrase \"financial service center bank\" in its corporate name.\n(4) A financial service center bank organized under this Part shall have a minimum initial capital of five million dollars.\n(5) A financial service center bank may not merge with or acquire another financial institution domiciled in this state, nor may a financial service center bank convert into another type of financial institution.\nB. In addition to the criteria provided in R.S. 6:214, to the extent applicable, the commissioner shall consider the unemployment figures for the community in which the proposed financial service center bank is to be located when granting a charter for such an institution.","path":["TITLE 6. BANKS AND BANKING"],"source_url":"https://www.legis.la.gov/legis/Law.aspx?d=106025","current_through":"2025 First Extraordinary Session","vintage":"","retrieved_at":"2026-09-14T04:48:57Z","sha256":"fd7d01af0267d13cac9dc9a907c7b96c4f85bd94322229ab31129f3083bc9066","source_id":"us-la","stale":false,"prev":"us-la/rs-6-543","next":"us-la/rs-6-545"},"notice":"GroundRules: Original legal text. Not legal advice."}