§3518.1. Records of the Office of Financial Institutions
A. Except as otherwise provided, all records of the office of financial institutions
shall be kept strictly confidential within the office, and such records and reports shall not be
subject to subpoena or other legal process.
B. The commissioner, in his sole discretion, when requested in writing, may disclose
or cause the employees of the office of financial institutions to disclose records of the office
of financial institutions concerning any person governed by this Chapter when such records
are requested by another state or federal agency having authority to investigate or license
such person governed by this Chapter, or are requested by a bankruptcy trustee or any law
enforcement agency in connection with an investigation to recover assets of a current or
former licensee.
C. Confidential records of either the office of financial institutions or of one of its
supervised entities licensed under this Chapter, produced by discovery or introduced into
evidence as part of a public hearing conducted under the Louisiana Administrative Procedure
Act shall remain confidential and not be deemed public.
D. Notwithstanding any provision of law to the contrary, except for documents or
information of other federal or state regulatory or law enforcement agencies in the possession
of the office of financial institutions, any federal or state district court within Louisiana may
order the office of financial institutions to disclose information and produce documents
belonging to the office of financial institutions which are relevant to claims or issues at
dispute in a lawsuit subject to the following conditions:
(1) The requesting party shall file the appropriate motion in the proper federal or
state court setting forth the documents or information requested with sufficient specificity
and the basis for such request.
(2) The requesting party shall provide the office of financial institutions with a copy
of any such filing prior to any scheduled proceeding designed to resolve the motion to allow
the office a reasonable period of time within which to respond to such filing in an adequate
manner, but in no event fewer than ten days prior to such scheduled hearing date.
(3) When no other source for such information requested is available, and upon a
showing by the requesting party of good cause and substantial need, the court may require
the disclosure of all or a part of the information requested subject to a protective order. The
contents and terms of such protective order shall be determined solely by the office of
financial institutions with the approval of the court.
E. Notwithstanding any other provision of law to the contrary, including but not
limited to R.S. 49:975.1(8)(c), there shall be no liability on the part of, and no cause of action
shall rise against, the Office of Financial Institutions or its agents or employees for any good
faith release or disclosure of information or for statements made in good faith in any
administrative hearings or in any reports or communications concerning regulatory issues and
the supervision and regulation of all entities under the jurisdiction of the Office of Financial
Institutions.
Acts 1997, No. 366, §2; Acts 2004, No. 587, §2, eff. June 29, 2004.