LA SB279

Authorizes boards of directors of financial institutions to issue uncertificated shares using book entry or other electronic methods to document shareholder ownership, unless articles of incorporation or bylaws prohibit it

Allows conversion of existing stock certificates to uncertificated shares by majority vote of the board of directors

Extends these uncertificated share provisions to state-chartered banks, bank holding companies, capital stock associations, state-chartered savings banks, and their holding companies

Maintains that shareholder rights and obligations remain identical regardless of whether shares are represented by physical certificates or held electronically

Effective August 1, 2026