RS 6:542

§542. Definitions 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.