Louisiana Revised Statutes 11:1675 – Private interest of trustees and employees in financial operation of system prohibited
Terms Used In Louisiana Revised Statutes 11:1675
- Board of Trustees: shall mean the Board provided for in La. See Louisiana Revised Statutes 11:1581
- Employee: shall mean any district attorney of the state of Louisiana, or any assistant district attorney in any parish of the state of Louisiana. See Louisiana Revised Statutes 11:1581
- Service: shall mean service rendered as an employee as described in Paragraph (10) of this Section. See Louisiana Revised Statutes 11:1581
- Trustee: A person or institution holding and administering property in trust.
Except as otherwise herein provided, no trustee and no employee of the board of trustees shall have any direct interest in the gains or profits of any investment made by the board of trustees, nor as such receive any pay or emolument for his service. No trustee or employee of the board shall, directly or indirectly, for himself or as an agent in any manner use the same, except to make such current and necessary payments as are authorized by the board of trustees; nor shall any trustee or employee of the board of trustees become an endorser or surety or in any manner an obligor for moneys loaned or borrowed from the board of trustees.
Added by Acts 1956, No. 56, §7(6); Redesignated from La. Rev. Stat. 16:1085 by Acts 1991, No. 74, §3, eff. June 25, 1991.