RS 6:971 Approval of transaction; priorities - Louisiana Statutes

§971.  Approval of transaction; priorities

A.  In considering transactions under this Chapter, the commissioner shall consider the need to minimize disruption in providing banking services to the citizens of Louisiana, and the need to preserve the strength and soundness of the banking system.  The commissioner shall authorize transactions under this Chapter considering the following priorities in this order:

(1)  Between financial institutions of the same type within the same parish.

(2)  Between financial institutions of the same type anywhere within the state.

(3)  Between financial institutions of different types within the same parish.

(4)  Between financial institutions of different types anywhere within the state.

B.  In considering transactions between financial institutions in different parishes, the commissioner shall give priority to prospective purchasers, merger, or consolidation candidates from adjoining parishes.

Acts 1985, No. 107, §1.