Louisiana Administrative Code
Title 10 - FINANCIAL INSTITUTIONS, CONSUMER CREDIT, INVESTMENT SECURITIES AND UCC
Part XI - Consumer Credit
Chapter 9 - Additional Fees and Charges
Section XI-903 - Procedure for Requesting Approval of an Additional Fee or Charge
Current through Register Vol. 50, No. 3, March 20, 2024
A. A creditor extending credit under the LCCL shall petition the commissioner for authority to assess an additional fee or charge which is not inconsistent with the provisions thereof.
B. A petition shall include an explanation as to why a creditor believes the fee or charge is warranted, as well as a showing that such fee or charge is not inconsistent with the provisions of the LCCL. The creditor shall also include documentation supporting its request.
C. The commissioner may publish the creditor's request, in a form prescribed by him, in the Potpourri section of the next Louisiana Register, to solicit public comments.
D. After considering the request and any public comments received, the commissioner may approve the proposed fee or charge, as long as it is not inconsistent with the provisions of the LCCL, and it complies with the requirements established by policy promulgated by the commissioner.
E. A current list of all fees and charges which have been approved or disapproved by the commissioner shall be maintained on the OFI website and made available upon request.
AUTHORITY NOTE: Promulgated in accordance with R.S. 9:3517(C).
