Louisiana Revised Statutes & Codes
La. Rev. Stat. § 6:1124 (2026)
No financial institution or officer or employee thereof shall be deemed or implied to be acting as a fiduciary, or have a fiduciary obligation or responsibility to its customers or to third parties other than shareholders of the institution, unless there is a written agency or trust agreement under which the financial institution specifically agrees to act and perform in the capacity of a fiduciary. The fiduciary responsibility and liability of a financial institution or any officer or employee thereof shall be limited solely to performance under such a contract and shall not extend beyond the scope thereof. Any claim for breach of a fiduciary responsibility of a financial institution or any officer or employee thereof may only be asserted within one year of the first occurrence thereof. This Section is not limited to credit agreements and shall apply to all types of relationships to which a financial institution may be a party.
✓ current as of May 2026
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§1124. No implied fiduciary obligations
No financial institution or officer or employee thereof shall be deemed or implied to be acting as a fiduciary, or have a fiduciary obligation or responsibility to its customers or to third parties other than shareholders of the institution, unless there is a written agency or trust agreement under which the financial institution specifically agrees to act and perform in the capacity of a fiduciary. The fiduciary responsibility and liability of a financial institution or any officer or employee thereof shall be limited solely to performance under such a contract and shall not extend beyond the scope thereof. Any claim for breach of a fiduciary responsibility of a financial institution or any officer or employee thereof may only be asserted within one year of the first occurrence thereof. This Section is not limited to credit agreements and shall apply to all types of relationships to which a financial institution may be a party.
Acts 1991, No. 581, §1.
Notes of Decisions
Cited in 61
cases (7 in the last 5 years), 1991–2024 · leading case: Agem Mgmt. Servs., LLC v. First Tennessee Bank Nat'l Ass'n, 942 F. Supp. 2d 611 (E.D. La. 2013).
Agem Mgmt. Servs., LLC v. First Tennessee Bank Nat'l Ass'n, 942 F. Supp. 2d 611 (E.D. La. 2013). “31-1 at 7, 12-15) (citing La.Rev.Stat. Ann. § 6:1124). Defendant argues that First Tennessee, the creditor, extended a financial accommodation to Plaintiffs, the “borrower” or debtor, in the form of an interest rate swap which Plaintiffs used to hedge against the risk of…”
Bizcapital Bus. & Ind. Dev. v. Union Plant., 884 So. 2d 623 (La. Ct. App. 2004). “R.S. 6:1124 and specifically stated: La. R.”
Johnson v. First Nat. Bank of Shreveport, 792 So. 2d 33 (La. Ct. App. 2001). “R.S. 6:1124, which states in pertinent part: No financial institution or officer or employee thereof shall be deemed or implied to be acting as a fiduciary, or have a fiduciary obligation or responsibility to its customers or to third parties other than shareholders of the…”
Ames v. Ohle, 97 So. 3d 386 (La. Ct. App. 2012). “R.S. 6:1124 to actions alleging a violation of a fiduciary duty against a financial institution.”
Westside-Marrero Jeep Eagle, Inc. v. Chrysler Corp., 56 F. Supp. 2d 694 (E.D. La. 1999). “Subsequent to the Trans-Global decision, however, the Louisiana Legislature enacted a statute directly addressing this issue: No financial institution or officer or employee thereof shall be deemed or implied to be acting as a fiduciary, or have a fiduciary obligation or…”
Gulf Coast Hous. & Dev. Corp. v. Capital One, 203 So. 3d 366 (La. Ct. App. 2016). “R.S. 6:1124, which provides: • *370 No financial institution or officer or employee thereof shall be deemed or implied to be acting as a fiduciary, or have a fiduciary obligation or responsibility to its customers or to third parties other than shareholders of the institution,…”
Oliver v. Cent. Bank, 658 So. 2d 1316 (La. Ct. App. 1995). “Specifically, defendant cites LSA-R.S. 6:1124 which states in pertinent part the following: No financial institution or officer or employee thereof shall be deemed or implied to be acting as a fiduciary, or have a fiduciary obligation or responsibility to its customers or to…”
Priola Constr. Corp. v. Profast Dev. Grp., Inc., 21 So. 3d 456 (La. Ct. App. 2009). “R.S. 6:1124, bars all actions for damages between a bank and a non-customer third party, regardless of the legal theory of recovery, if there is no written agreement between the bank and the non-customer third party.”
Badalamenti v. Jefferson Guar. Bank, 759 So. 2d 274 (La. Ct. App. 2000). “R.S. 6:1124. We find we need not reach the substance of the exception because the question of prescription has not been presented to us in a timely manner.”
King v. Par. Nat'l Bank, 885 So. 2d 540 (La. 2004). “R.S. 6:1124. In Jesco Construction Corp. v.”
St. Landry Homestead Fed. Sav. Bank v. Vidrine, 118 So. 3d 470 (La. Ct. App. 2013). “R.S. 6:1124) precludes the Vidrines from asserting any of the claims for relief raised in their reconventional demand.”
Hancock Bank of Louisiana v. 3429 H, LLC, 184 So. 3d 274 (La. Ct. App. 2016). “R.S. 6:1124. 10 Based upon our de novo review of Schmidt’s reconventional demand, we cannot say that the trial court erred in granting the exceptions of no cause of action.”
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