Regulatory Alerts2003-06-10
Louisiana Office of Financial Institutions Directors' Examination Report Cover Sheet
The Louisiana Office of Financial Institutions mandates that state-chartered banks, savings banks, and savings associations secure an annual Directors' Examination under a rule effective March 2002. Each institution's audit committee must present a written examination summary to the board of directors and submit two copies of the complete report, practitioner comment letters, and the institution's written responses. Completed filings must be mailed to the Baton Rouge office by April 30 for December 31 fiscal years, or within 120 days for alternative reporting periods.
STATE OF LOUISIANA OFFICE OF FINANCIAL INSTITUTIONS DIRECTORS' REPORT OF EXAMINATION COVER SHEET FINANCIAL INSTITUTION: ___________________________________________________ ADDRESS: ___________________________________________________________________ Report as of the close of business, December 31, ___________________________________ Note: If the report is for a period other than December 31, please indicate the ending date for the alternate twelve-month period covered by the report:
NOTICE During the 2001 Legislative Session, LSA-R.S. 6:290, 6:793, and 6:1310 were amended to require state-chartered financial institutions to secure a "Directors' Examination" in accordance with a rule promulgated by the Commissioner. The Directors' Examination Requirements Rule, which became effective on March 20, 2002, requires the audit committee of the board of directors of each state-chartered bank, savings bank, and savings association to secure an annual examination of the institution. This examination must be summarized in a written report, which must be presented to the board of directors. Each institution must also send to this office two copies of the following: (1) the report in its entirety; (2) any letters of comment the institution receives from the practitioner in connection with the examination; and (3) the institution's response to any letters of comment.
The information must be received in this office no later than April 30, if the examination covers a twelve-month period ending on December 31. If the examination covers a twelvemonth period other than December 31, the examination is due within 120 days from the end of the period covered by the examination. Please mail the above referenced items to the Office of Financial Institutions, Post Office Box 94095, Baton Rouge, Louisiana, 70804- 9095.