Louisiana Revised Statutes Tit. 6, § 1385.1. Approval of advanced change of control notice

A. Whenever a change of control of a licensee or an applicant is contemplated by any person, or persons acting in concert, the following information shall be provided to the commissioner through the NMLS:

B. The commissioner shall approve an advanced change of control notice filed in accordance with Subsection A of this Section if, after investigation, he determines that the person, or persons acting in concert, to cause a change of control shall not adversely affect the ability of the licensee or applicant to conduct its virtual currency business activity honestly, carefully, and efficiently and in accordance with the requirements of this Chapter and any other applicable state and federal laws and regulations.

C. If the commissioner determines that the proposed person, or persons acting in concert, to cause a change of control fails to meet the qualifications, standards, and requirements pursuant to this Chapter, the commissioner shall inform the licensee, applicant, proposed person, or persons acting in concert to cause the change of control in writing that the advanced change of control request is denied and state the reasons for such denial. The licensee, applicant, proposed person, or persons acting in concert to cause the change of control may appeal the denial in accordance with R.S. 6:1387(C).

D. The provisions of Paragraph (A)(1) of this Section shall not apply to a public offering of securities under the laws of the United States.

E. Before filing an advanced change of control notice, any person, or persons acting in concert, may request in writing a determination from the commissioner as to whether the person, or persons acting in concert, would be considered to be in control of a licensee or applicant upon consummation of a proposed transaction. If the commissioner determines that the person, or persons acting in concert, would not be in control of the licensee or applicant, the commissioner shall respond in writing that the proposed transaction is not subject to the requirements of Subsection A of this Section.