Louisiana § 11:855 Private interest of trustees and employees in financial operation of system prohibited

Louisiana Statutes

§ 11:855 — Private interest of trustees and employees in financial operation of system prohibited

Louisiana § 11:855

Title 11Consolidated Public Retirement Systems

This text of Louisiana § 11:855 (Private interest of trustees and employees in financial operation of system prohibited) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

La. Stat. Ann. § 11:855 (2026).

Text

Except as otherwise herein provided, no trustee and no employee of the board of trustees shall have any direct interest in the gains or profits of any investment made by the board of trustees, nor as such receive any pay or emolument for his service. No trustee or employee of the board shall, directly or indirectly, for himself or as an agent in any manner use the same, except to make such current and necessary payments as are authorized by the board of trustees; nor shall any trustee or employee of the board of trustees become an endorser or surety or in any manner an obligor for moneys loaned or borrowed from the board of trustees.
Redesignated from R.S. 17:675 by Acts 1991, No. 74, §3, eff. June 25, 1991.

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Except as otherwise herein provided, no trustee and no employee of the board of trustees shall have any direct interest in the gains or profits of any investment made by the board of trustees, nor as such receive any pay or emolument for his service. No trustee or employee of the board shall, directly or indirectly, for himself or as an agent in any manner use the same, except to make such current and necessary payments as are authorized by the board of trustees; nor shall any trustee or employee of the board of trustees become an endorser or surety or in any manner an obligor for moneys loaned or borrowed from the board of trustees.
Redesignated from R.S. 17:675 by Acts 1991, No. 74, §3, eff. June 25, 1991.