§ 11:1843 — Cash deposit for payment of benefits

§1843. Cash deposit for payment of benefits
For the purpose of meeting disbursements for pensions, annuities, and other
payments, there may be kept available cash, not exceeding ten percent of the total amount
in the several funds of the retirement system, on deposit in one or more banks or trust
companies of the state of Louisiana organized under the laws of the state of Louisiana or of
the United States, provided that the sum on deposit in any one bank or trust company shall
not exceed ten percent of the paid up capital and surplus of such bank or trust company.

Legislative History

Acts 1978, No. 788, §1; Redesignated from R.S. 33:7353 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 2022, No. 248, §2, eff. June 30, 2022.