Louisiana Revised Statutes 11:3718 – Property for benefit of fund; minimum fund required before disbursements can be made
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A. The board may receive property of any nature for the benefit of the fund.
B. The sum of fifty thousand dollars shall be retained as a permanent fund. No pension shall be paid or money drawn from the fund until the sum of fifteen thousand dollars, over and above the fifty thousand dollars held as a permanent fund is to the fund’s credit.
Acts 1968, No. 641, §2; Redesignated from La. Rev. Stat. 33:2358 by Acts 1991, No. 74, §3, eff. June 25, 1991.