Louisiana Revised Statutes 11:951.33 – Cash deposits for payment of pensions, etc., limitations as to amount
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Terms Used In Louisiana Revised Statutes 11:951.33
- Pensions: means payments for life. See Louisiana Revised Statutes 11:701
- Retirement: means withdrawal from active service with a retirement allowance allowable under the provisions of this Part. See Louisiana Revised Statutes 11:951.1
Available cash, not exceeding ten per centum of the total amount in the several accounts of the retirement system, may be kept on deposit in one or more banks or trust companies organized under the laws of the United States or the State of Louisiana and located in the City of New Orleans, for the purpose of meeting disbursements for pensions, annuities, and other payments.
Redesignated from La. Rev. Stat. 17:1053 pursuant to La. Rev. Stat. 24:253.