Louisiana Trust Company – Final Rule

AUTHORITY NOTE: Promulgated in accordance with R.S. 4:149, R.S. 4:149.1 and R.S. 4:149.2. HISTORICAL NOTE: Promulgated by the Office of the Governor, Division of Administration, Racing Commission, LR 28:1015 (May 2002), amended LR 34:870 (May 2008). §11623. Display A. These rules shall be prominently displayed in the betting area of the association conducting the Pick N. AUTHORITY NOTE: Promulgated in accordance with R.S. 4:149, R.S. 4:149.1 and R.S. 4:149.2. HISTORICAL NOTE: Promulgated by the Office of the Governor, Division of Administration, Racing Commission, LR 28:1015 (May 2002), amended LR 34:871 (May 2008). §11625. Unforeseen Circumstances A. Should circumstances occur which are not foreseen in these rules, questions arising thereby shall be resolved by the association and/or commission in accordance with general pari-mutuel practices. Decisions regarding distribution of the Pick N pools shall be final. AUTHORITY NOTE: Promulgated in accordance with R.S. 4:149, R.S. 4:149.1 and R.S. 4:149.2. HISTORICAL NOTE: Promulgated by the Office of the Governor, Division of Administration, Racing Commission, LR 28:1015 (May 2002), amended LR 34:871 (May 2008). Charles A. Gardiner III Executive Director 0805#008 RULE Office of the Governor Office of Financial Institutions Louisiana Trust Company (LAC 10:I.1501 and 1503) In accordance with R.S. 49:950, et seq., the Administrative Procedure Act, as provided under R.S. 6:126(A), and as authorized by R.S. 6:576; 6:592; and 6:613, the Commissioner of the Office of Financial Institutions has promulgated a Rule to provide for the administration and regulatory oversight of the Louisiana Trust Company Statutes (R.S. 6:571, et seq.). The Rule establishes fees and assessments to cover anticipated regulatory costs. Title 10 FINANCIAL INSTITUTIONS, CONSUMER CREDIT, INVESTMENT SECURITIES AND UCC
Part I. Financial Institutions
Chapter 15. Louisiana Trust Company
§1501. General Provisions
A. The Depository Institutions' Section of the Louisiana Office of Financial Institutions ("OFI") is funded entirely through assessments and fees levied on state-chartered financial institutions for services rendered. All fees detailed in this rule are nonrefundable and must be paid at the time the application is filed with this office. An applicant may submit a request that a reduced fee be charged for the simultaneous filing of similar multiple applications other than de novo applications. This request will not be approved for applications that are not expected to be consummated within 12 months of the filing date. AUTHORITY NOTE: Promulgated in accordance with R.S. 6:121; 6:576; 6:592; and 6:613. HISTORICAL NOTE: Promulgated by the Office of the Governor, Office of Financial Institutions, LR 34:871 (May 2008). §1503. Fees and Assessments A. Pursuant to the authority granted under R.S. 6:121; 6:576; 6:592; and 6:613, the following fee and assessment structure is hereby established to cover necessary costs associated with the administration of the Louisiana Trust Company Law, R.S. 6:571 et seq. Description Fee A. Application for a de novo public trust company, or the merger or consolidation of public trust companies. $10,000 B. The conversion from a national or federally-chartered trust company to a state-chartered public trust company. $1,500
C. Application for a Louisiana trust
company to establish a trust office or trust representative office. Standard Form: $1,000 Short Form: $250 D. Application to form a de novo private trust company $5,000 E. Application for a conversion or merger of a state-chartered trust company into a federally chartered depository institution or a federal trust company. $1,500 F. Semi-annual assessment for each public trust company domiciled in Louisiana to be assessed no later than June 30th and December 31st. $2,500 G. Semi-annual assessment for each private trust company domiciled in Louisiana to be assessed no later than June 30th and December 31st. $1,000 H. Examination fee for each trust company domiciled in Louisiana. Fee per examiner. $50 per hour
I. Review of a restatement and/or
amendment to the Articles of
Incorporation of a state-chartered Louisiana trust company. $250 J. Application by a state-chartered trust company to establish or acquire a subsidiary. $500 K. Annual certification for each private trust company $500
L. The conversion from a private trust
company to a public trust company. $5,000 M. Examination fee for each out-of-state branch, administrative office, trust production office, or representative office of any trust company domiciled in Louisiana. Any fees assessed pursuant to this rule plus any amounts assessed by the host state regulator for participating in the examination of the Louisiana entity. N. Examination fee for each branch, administrative office, or representative office of any out-of-state trust company operating in Louisiana in the absence of a sharing agreement between OFI and the host state that establishes fees for examinations and other administrative cost. This fee shall be billed to the primary regulator of the out-of-state entity being examined, and due upon receipt of the OFI invoice. $50/hour per examiner plus the actual expenses incurred by this office to conduct or assist in conducting such examinations.

AUTHORITY NOTE: Promulgated in accordance with R.S. 6:121; 6:576; 6:592; and 6:613. HISTORICAL NOTE: Promulgated by the Office of the Governor, Office of Financial Institutions, LR 34:871 (May 2008). John Ducrest, CPA Commissioner