Louisiana Revised Statutes 42:1308 – Transitional provisions
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Terms Used In Louisiana Revised Statutes 42:1308
- Commission: means the Louisiana Deferred Compensation Commission. See Louisiana Revised Statutes 42:1301
- Ex officio: Literally, by virtue of one's office.
- Participant: means : (a) a person whose compensation is currently subject to deferrals in accordance with Section 457 of the United States Internal Revenue Code, or (b) a person whose compensation has previously been subject to deferrals in accordance with Section 457 of the United States Internal Revenue Code and whose contributions have not been withdrawn. See Louisiana Revised Statutes 42:1301
Notwithstanding the preceding provisions of this Chapter:
(1) The Commission shall not be required to comply with the rulemaking requirements of the Administrative Procedure Act prior to July 1, 1983.
(2) The first participant members of the Commission shall be chosen by the ex officio members of the Commission after receiving such advice from interested participants as may be feasible in view of the need for prompt action. Such participant members shall serve until the first election of participant members, which shall be held during the month of June, 1983.
Added by Acts 1982, No. 1, §1, eff. May 6, 1982.