Louisiana Revised Statutes 42:453 – Payroll System Custodian declared trustee
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Terms Used In Louisiana Revised Statutes 42:453
- Ex officio: Literally, by virtue of one's office.
- Trustee: A person or institution holding and administering property in trust.
The designated custodian of the approval payroll system(s), by virtue of his responsibility, is named and designated, ex officio, trustee of that U.S. series “EE” bond account/fund created under La. Rev. Stat. 42:452. He shall serve as trustee of the account/fund without compensation.
Amended by Acts 1981, No. 642, §1.