LAC 10:III.323. Definitions

A. For purposes of these regulations, the following terms shall have these meanings. Commissioner―the Commissioner of Financial Institutions. Current Appraisal―an appraisal which has been obtained within 12 months prior to the exchange, provided there has been no significant change to the property. Exchanged Property―property lawfully acquired by a bank pursuant to R.S. 6:243(A) which is exchanged for property in compliance with this regulation.