Subsidiary Application

The establishment or acquisition of a subsidiary requires the filing of an application with OFI.  Linked to this location is a copy of the application, as well as instructions for filing the application. The current application fee for the establishment or acquisition of a subsidiary is $500.

  Application to Establish A Subsidiary

  Application to Establish an Additional Office of A Subsidiary

  DI-01-2005 Investment in Real Estate for Business Purposes

Please comply with the following instructions to ensure a timely response from this Office:

  1. This Office will require the original and one copy of the completed application, and one copy should be retained in the Institution's files.

  2. That the applicant will submit with the application a copy of the proposed Articles of Incorporation/Association and Bylaws.  If the proposed subsidiary is already in existence, a copy of the executed Articles of Incorporation/Association and Bylaws should be submitted.

  3. The application, when filed, must be accompanied by an official check in the amount of $500 (non-refundable), which is to cover the cost of the application fee.  Please make check payable to the "Louisiana Office of Financial Institutions."  There is no application fee for the establishment of an additional office of a subsidiary.

  4. If the Institution is to lease any or all of the proposed premises, submit a copy of the proposed lease, together with a statement from a Certified Public Accountant stating whether the lease is to be considered an operating lease or a capitalized lease according to the provisions of the Statement of Financial Accounting Standards #13 - Accounting For Leases. The provision to include the "Standard Bankruptcy Clause" in the lease is no longer required.

  5. The Institution should ensure that any purchase of real estate for future expansion is in compliance with this Office's Investment in Real Estate for Business Purposes Policy, revised March 15, 2005.

  6. The Institution should disclose any involvement in this application by a Director, Officer, or Shareholder who directly or indirectly controls five percent or more of any class of voting stock. Involvement includes, but is not limited to, the sale or lease of property or equipment, legal fees, accounting fees, construction contracts, or consulting contracts.

Any questions you may have concerning the application should be directed to Deputy Chief Examiner John D. Fields at (225) 925-4661.

Updated September 14, 2017