2023 Louisiana LawsRevised StatutesTitle six – Banking institutions and you may Financial§6:822. Fund and you may investments
A link may purchase, offer, engage, otherwise offer inside or on the following money or other opportunities since the hereinafter given:
(1) No relationship should create financing to 1 debtor when your sum of (a) the amount of for example financing, and you can (b) the entire balances of all of the an excellent financing owed to such association by eg debtor is higher than an expense comparable to the fresh lower from (i) ten percent of these association’s deals accountability, otherwise (ii) an expense equal to particularly association’s paid-inside financial support, surplus, supplies to have losings, and you will undivided payouts; besides one mortgage is generated whether your sum of (a) and you can (b) does not meet or exceed five hundred thousand dollars. The needs of https://www.paydayloancolorado.net/brick-center (i) and (ii) of the Part might be mentioned from the wide variety said on the end of new times quickly before the newest month in which the mortgage or authored connection to possess a designated amount borrowed try produced.
Investment on the inventory otherwise ties out of a federal home loan lender or even in this new stock of one’s Federal national mortgage association
(i) Fund into defense out-of liens otherwise mortgage loans up on residential otherwise nonresidential real estate, besides the new funds and you may expenditures inside funds out of a link on the nonresidential a residential property should perhaps not surpass forty per cent of the assets.
(ii) Conversion process away from loans otherwise performing appeal therein towards residential a property may be sold with proper off replacement. Some other loan will only be marketed without recourse.
(c) Us Authorities ties. Investment in the obligations away from, or guaranteed in full regarding principal and you can appeal because of the United Claims. A link will get try to be agent for the United states during the the sale or any other feeling of these debt.
(e) Federal Mortgage Home loan Business devices. Assets inside mortgages, obligations, and other ties sold because of the Federal Mortgage Mortgage Organization pursuant on Federal Financial Home loan Organization Act.
(f) Most other government ties. Financial investments for the loans, participations, ties, or any other tools off, or issued by the, otherwise fully guaranteed as to principal and focus of the, this new Federal national mortgage association, the Education loan Product sales Organization and/or Regulators National Financial Relationship, Government Home loan Mortgage Business, and other agencies of the You or any other ties secured pursuant on National Property Act.
The constraints according to signature loans to 1 debtor is at the mercy of particularly limitations due to the fact administrator could possibly get impose
(g) Dumps. Financial investments on time deposits, licenses, otherwise account of any bank the newest places at which was insured because of the Government Deposit Insurance coverage Business, or perhaps in brand new coupons account, permits, and other account of every organization new accounts from which was covered from the Federal Put Insurance Enterprise or the National Borrowing from the bank Connection Display Insurance coverage Loans, and other guaranteeing entity appointed of the commissioner.
(h) Condition Bonds. Investment within the debt off, or issued by the, people county otherwise governmental subdivision thereof, along with any department, firm, otherwise instrumentality off a state or political subdivision, aside from a link may well not invest more than 10% of its financing and you will excess when you look at the obligations of any one issuer, private from assets in general obligations of every that issuer.
(i) Acquisition of insured funds. Acquisition of fund safeguarded because of the liens to your increased home which was insured not as much as arrangements of the National Construction Work, otherwise covered since provided regarding Servicemen’s Readjustment Operate regarding 1944 otherwise Section 37 from Label 38 of the All of us Code.
(j) Do it yourself and you can manufactured home loans. Money created for the new resolve, equipping, customization, otherwise improve of any domestic real estate, and you can funds created for the purpose of are designed a mortgage.