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The board may invest available funds and may hold, purchase, sell, assign, transfer, and dispose of any of the securities of the system, in the name of the system or a nominee name, provided the action is taken in compliance with the rules and regulations established by the board and in accordance with the provisions of La. Rev. Stat. 11:263.  

Acts 1984, No. 867, §2; Acts 1991, No. 863, §1; Redesignated from La. Rev. Stat. 42:647 by Acts 1991, No. 74, §3, eff. June 25, 1991.