§ 17:3085 — Louisiana Tuition Trust Authority; powers relative to the administration of the

Louisiana § 17:3085

• Jurisdiction: Louisiana
• Title 17: Credit Union Law

Text

§3085. Louisiana Tuition Trust Authority; powers relative to the administration of the
program
In addition to any other powers conferred by this Chapter, the authority may do any
of the following:
(1) Purchase insurance from insurers licensed to do business in this state providing
for coverage against any loss in connection with the authority's property, assets, or activities
or to further ensure the value of ABLE accounts.
(2) Indemnify or purchase policies on behalf of members, officers, and employees
of the authority from insurers licensed to do business in this state providing for coverage for
any liability incurred in connection with any civil action, demand, or claim against a director,
officer, or employee by reason of an act or omission by the director, officer, or employee that
was not manifestly outside the scope of his employment or official duties or with malicious
purpose, in bad faith, or in a wanton or reckless manner.
(3) Make, execute, and deliver contracts, conveyances, and other instruments
necessary to the exercise and discharge of the powers and duties of the authority.
(4) Promote, advertise, and publicize the program.
(5) Solicit, accept, and expend gifts or grants.

Legislative History

Acts 2016, No. 604, §1.