2023 Louisiana LawsRevised StatutesTitle six – Finance companies and you may Banking§6:822. Financing and you will investments

An association get put money into, sell, participate, if not deal in otherwise toward following the fund or any other expenditures just like the hereinafter provided:

(1) Zero organization will build financing to a single debtor in the event the sum of (a) the level of like loan, and (b) the full stability of all the the financing due so you’re able to such as for instance organization by the such as for example debtor exceeds an amount equivalent to this new less out-of (i) 10 % of these association’s offers liability, otherwise (ii) an amount equal to instance association’s reduced-from inside the financing, excessive, supplies for loss, and undivided earnings; besides people mortgage can be made whether your amount of (a) and you may (b) doesn’t go beyond five hundred thousand dollars. The requirements of (i) and (ii) of the Paragraph will be measured because of the quantity said during the the end of the newest day quickly before the latest month in which the borrowed funds otherwise written relationship having a specified amount borrowed was generated.

Financial investments throughout the stock otherwise ties of a federal financial bank or in this new inventory of your own Federal national mortgage association

(i) Money to your coverage off liens or mortgages up on residential or nonresidential a property, except that brand new fund and you will investment when you look at the fund of a connection with the nonresidential a home will not exceed forty per cent of the assets.

(ii) Sales away from loans or participating attention therein towards residential a residential property can be marketed with best out-of substitution. Some other financing will only be marketed as opposed to recourse.

(c) Us Bodies bonds. Opportunities within the financial obligation out-of, or fully guaranteed about prominent and you may interest by the Joined Says. A link can get try to be broker toward Us within the brand new marketing and other feeling of such debt.

(e) Federal Home loan Home loan Corporation tools. Expenditures inside mortgage loans, loans, and other securities marketed by Federal Mortgage Financial Enterprise pursuant into Government Financial Mortgage Agency Work.

(f) Most other regulators ties. Investments into the debt, participations, ties, or other instruments out-of, or provided from the, or guaranteed regarding dominating and you may desire by the loans Sweet Water, the newest Fannie mae, the fresh new Student loan Purchases Relationship or the Bodies Federal Home loan Organization, Federal Home loan Mortgage Business, or any other agency of your own All of us or any other bonds guaranteed pursuant towards National Houses Work.

New limits prior to personal loans to a single borrower can be at the mercy of such limits while the commissioner will get demand

(g) Dumps. Expenditures in the big date places, licenses, or profile of every bank the newest places from which was covered by Government Put Insurance policies Business, or in the newest offers levels, certificates, or other accounts of any facilities the fresh accounts of which try covered because of the Federal Deposit Insurance policies Corporation or even the Federal Borrowing Commitment Show Insurance Loans, or other guaranteeing entity appointed of the commissioner.

(h) County Bonds. Investment when you look at the personal debt away from, or awarded by, people condition otherwise governmental subdivision thereof, plus one company, firm, otherwise instrumentality away from your state otherwise political subdivision, aside from a link may not invest more 10 % of the capital and you will surplus during the obligations of every you to definitely issuer, private away from investments in general financial obligation of every one to issuer.

(i) Acquisition of covered fund. Acquisition of financing secured by the liens to your increased a property and therefore are covered under specifications of your own National Houses Work, otherwise insured because considering on the Servicemen’s Readjustment Operate regarding 1944 otherwise Chapter 37 out of Term 38 of one’s All of us Password.

(j) Do it yourself and you can are created mortgage brokers. Money designed for the new resolve, stocking, customization, otherwise improve of any domestic houses, and you may funds designed for the goal of are designed a mortgage.