Louisiana Revised Statutes 11:951.15 – Voting power of trustees; meetings, quorum; by-laws, etc.; board’s power to make
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Terms Used In Louisiana Revised Statutes 11:951.15
- Board of trustees: means and includes the members of the board of trustees of the retirement system. See Louisiana Revised Statutes 11:951.1
- Quorum: The number of legislators that must be present to do business.
- Trustee: A person or institution holding and administering property in trust.
A. Each trustee shall be entitled to one vote on the board. A majority of the board of trustees shall constitute a quorum for the transaction of all business except in cases where a majority vote of all members is specifically required.
B. The board of trustees has full power to adopt and enforce such by-laws, rules and regulations for the administration of the funds and the transaction of business, to appoint and determine the rate of compensation or expenses of all employees as it may deem necessary or appropriate to carry out the purposes of this Part.
Redesignated from La. Rev. Stat. 17:1035 pursuant to La. Rev. Stat. 24:253.