Current with changes from the 2024 Legislative Session
Section 6:412 - Unauthorized use of the word "bank" or similar wordsA. It shall be unlawful for any person other than a bank to:(1) Use the word "bank", "banker", "banking", "trust", "trustee", "trust company", or any other word of similar import as part of its name or title, except that a trust created and operated pursuant to the provisions of the Louisiana Trust Code as contained in R.S. 9:1721 et seq., and a real estate investment trust authorized under the provisions of R.S. 12:491 et seq., may use the word "trust" as part of its name or title, and a trust company created and operated pursuant to the Louisiana Trust Company Law as contained in R.S. 6:571 et seq. shall use only the words "trust", "trustee", or "trust company" as part of its name or title;(2) Make use of any office sign at the place where the business is transacted having thereon any words indicating that the place or office is that of a bank;(3) Make use of or circulate any written, printed, or partly written and partly printed paper heading thereon any words indicating that the business is that of a bank; or(4) Otherwise purport or represent to the public that that person is a bank or is engaged in the business of banking as a bank.B. Whoever violates this Section shall be fined not more than one thousand dollars a day for each day or part of a day during which the violation continues.C. Nothing in this Section shall be construed to prevent the use of the words "bank", "banks", "banker", "bankers", "banking", or any similar word in a context clearly not purporting to refer to a general banking business.D. Nothing in this Section shall be construed to prevent the use of the word "trust", "trustee", "trust company" or any word of similar import as part of a name or title in a context clearly not purporting to refer to engaging in a general trust, trustee, or trust company business.Acts 1984, No. 719, §1, eff. Jan. 1, 1985; Acts 1986, No. 7, §1; Acts 1991, No. 200, §1; eff. July 2, 1991; Acts 2003, No. 573, §1, eff. June 27, 2003; Acts 2019, No. 190, §1, eff. June 11, 2019.Amended by Acts 2019, No. 190,s. 1, eff. 6/11/2019.Acts 1984, No. 719, §1, eff. 1/1/1985; Acts 1986, No. 7, §1; Acts 1991, No. 200, §1; eff. 7/2/1991; Acts 2003, No. 573, §1, eff. 6/27/2003.