Regulatory Alerts2003-01-13
OFI Credit Report Requirement for New Directors and Executive Officers
The Louisiana Office of Financial Institutions requires financial institutions to submit a current credit report alongside applications for adding new directors or executive officers. Effective immediately, the submitted credit report must be dated within 90 days of the application's certification date unless otherwise specified. This mandate applies to all filings made under Louisiana Statutes Annotated Revised Section 6:121.4 and is enforced directly by the Office's Chief Examiner.
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