Regulatory Alerts2012-01-05
Political Contributions by State-Chartered Financial Institutions
The Office of Financial Institutions updates its guidance to clarify that Louisiana state-chartered financial institutions may make political contributions to candidates under the Campaign Finance Disclosure Act, aligning their authority with that of commercial corporations. Contributions require specific board authorization or executive empowerment, must generally be made by check, and are subject to limits based on the election's geographic scope. Financial institutions are advised to verify statutory compliance, potentially consult legal counsel, and may contact the Louisiana Board of Ethics for clarification regarding authorized expenditures.
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