Finance or securities companies must have a license, and the fee depends on the amount of loans made.
§356. Business of lending or of dealing of notes secured by chattel mortgages or other liens A. For every person, firm, corporation, or association of persons engaged in the business of purchasing, selling, trading in, or lending on unsecured notes or on notes secured by chattel mortgages, or other statutory liens, being commonly known as finance or securities companies, a license based on the amount of loans made by the business shall be required. The license shall be based on the amount of loans made by the business and the amount of said license shall be as shown in the following table: The Annual If the Amount of Loans Made is: License Shall As Much As But Less Than Be: $ 0 $ 250,000 $ 50 250,000 500,000 100 500,000 750,000 150 750,000 1,000,000 200 1,000,000 1,250,000 250 1,250,000 1,500,000 300 1,500,000 1,750,000 350 1,750,000 2,000,000 400 2,000,000 2,250,000 450 2,250,000 2,500,000 500 2,500,000 3,000,000 550 3,000,000 3,500,000 600 3,500,000 4,000,000 650 4,000,000 4,500,000 700 4,500,000 5,000,000 750 5,000,000 5,500,000 800 5,500,000 6,000,000 850 6,000,000 6,500,000 900 6,500,000 7,000,000 950 7,000,000 7,500,000 1,000 7,500,000 8,000,000 1,050 8,000,000 8,500,000 1,100 8,500,000 9,000,000 1,150 9,000,000 9,500,000 1,200 9,500,000 10,000,000 1,250 10,000,000 11,000,000 1,350 11,000,000 12,000,000 1,450 12,000,000 13,000,000 1,550 13,000,000 14,000,000 1,650 14,000,000 15,000,000 1,750 15,000,000 16,000,000 1,850 16,000,000 17,000,000 1,950 17,000,000 18,000,000 2,050 18,000,000 19,000,000 2,150 19,000,000 20,000,000 2,250 20,000,000 25,000,000 2,500 25,000,000 30,000,000 3,000 30,000,000 35,000,000 3,500 35,000,000 .......... 3,700 B. The "amount of loans made", for the purposes of this Section, shall mean the total of all amounts of funds or goods advanced to borrowers and the amounts paid for notes or other similar evidences of indebtedness purchased or otherwise acquired from others. C. In the case of a new business, the basis for the first year's license shall be provided for in R.S. 47:344 and R.S. 47:348 of this Chapter, except that the "amount of the loans made" shall be substituted for "gross revenue". Acts 1986, No. 1017, §1, eff. Jan. 1, 1987. {{NOTE: SEE ACTS 1986, NO. 1017, §3, AND ACTS 1986, 1ST EX. SESS., NO. 18, §1.}}