2023 Louisiana LawsRevised StatutesTitle 6 – Finance companies and you can Banking§6:822. Money and you may assets
A connection get invest in, offer, take part, otherwise offer inside otherwise for the pursuing the finance or other financial investments while the hereinafter given:
(1) No connection should make that loan to a single debtor whether your sum of (a) the level of like loan, and you may (b) the total stability of all of the a great financing owed so you can for example connection by the eg borrower exceeds a price equal to this new lesser out-of (i) 10 % of these association’s savings liability, otherwise (ii) an amount equivalent to particularly association’s paid-within the financing, excessive, supplies getting losses, and undivided profits; aside from any loan are generated if the amount of (a) and you may (b) doesn’t meet or exceed five-hundred thousand bucks. The needs of (i) and you can (ii) of this Paragraph is going to be measured because of the amounts advertised at the termination of new times instantaneously preceding brand new day where the loan or authored connection getting a designated loan amount is made.
Expenditures company website about stock or securities away from a federal home loan bank or even in the inventory of one’s Federal national mortgage association
(i) Finance into cover out-of liens or mortgage loans abreast of domestic otherwise nonresidential a property, besides new money and you can expenditures within the finance out of a connection with the nonresidential home should perhaps not surpass forty percent of their possessions.
(ii) Sales out-of loans otherwise participating desire therein towards the home-based a residential property could be marketed that have proper of replacement. Some other financing shall just be offered in the place of recourse.
(c) You Bodies securities. Investment in personal debt from, or guaranteed regarding principal and you may desire from the Joined Says. A link may try to be agent to the United states when you look at the the fresh purchases and other mood of these personal debt.
(e) Federal Home loan Home loan Corporation instruments. Expenditures within the mortgages, debt, or other securities ended up selling from the Federal Financial Financial Organization pursuant into the Government Mortgage Financial Business Act.
(f) Other authorities securities. Investment when you look at the financial obligation, participations, ties, and other tool from, otherwise given by, or guaranteed regarding prominent and you may interest by, the Fannie mae, the fresh new Education loan Sales Association or even the Government Federal Mortgage Connection, Federal Mortgage Home loan Business, and other agency of one’s Us or any other ties guaranteed pursuant with the Federal Houses Act.
The new constraints in line with personal loans to 1 borrower would be susceptible to including restrictions given that commissioner could possibly get demand
(g) Deposits. Opportunities from the day places, permits, or accounts of any financial the brand new places of which try insured from the Government Put Insurance Agency, or even in brand new discounts accounts, certificates, or other profile of every establishment the brand new account from which are insured by Federal Put Insurance coverage Agency or the Federal Borrowing from the bank Partnership Share Insurance rates Loans, and other insuring entity designated because of the administrator.
(h) State Securities. Financial investments in the obligations out of, otherwise given of the, any state otherwise governmental subdivision thereof, along with people company, agency, or instrumentality of a state otherwise governmental subdivision, except that a connection may not invest more than 10 % of their financing and you can extra from inside the personal debt of every that issuer, personal of investments overall loans of every you to definitely issuer.
(i) Acquisition of covered money. Acquisition of funds covered by liens towards increased a house and therefore was insured around specifications of the National Casing Operate, otherwise covered because considering on the Servicemen’s Readjustment Act off 1944 otherwise Part 37 away from Title 38 of the You Password.
(j) Do it yourself and you will were created home loans. Financing made for the resolve, equipping, adjustment, otherwise upgrade of every domestic real estate, and finance designed for the objective of are formulated home financing.
