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Louisiana Revised Statutes Tit. 11, § 264.8. System policy regarding breach of fiduciary duty

Current as of January 01, 2023 | Updated by Findlaw Staff

No retirement system may submit a proposed regulation, or approve any internal policy to relieve a fiduciary from responsibility for breach of fiduciary duty. However, a system may purchase insurance to cover liability or losses due to acts or omissions of fiduciaries. Any such insurance shall maintain the insurance company's right of subrogation. A fiduciary may purchase insurance to cover his own liability, without condition.

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Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 11, § 264.8. System policy regarding breach of fiduciary duty - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-11-sect-264-8/

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