Louisiana Revised Statutes 11:2004 – Selection of fiscal agents
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Terms Used In Louisiana Revised Statutes 11:2004
- board of trustees: means the board of trustees of this system. See Louisiana Revised Statutes 11:1902
- retirement system: means the Parochial Employees' Retirement System of Louisiana, established as of January 1, 1953, defined in Chapter 5, Title 11 of the Louisiana Revised Statutes, and as subsequently amended. See Louisiana Revised Statutes 11:1902
The board of trustees shall approve the fiscal agency bank or banks for the deposit of the funds and securities of this retirement system provided that no bank shall be selected unless the bank is a fiscal agent of the state. The funds of the system held in any bank of the state shall be safeguarded by bonds or other securities acceptable for the protection of state deposits, the amount to be determined by the board of trustees.
Acts 1979, No. 765, §1, eff. Jan. 1, 1980; Redesignated from La. Rev. Stat. 33:6214 by Acts 1991, No. 74, §3, eff. June 25, 1991.