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La. Rev. Stat. § 11:264.8

System policy regarding breach of fiduciary duty

Louisiana · Louisiana Revised Statutes Title 11 — Consolidated Public Retirement · Status: effective

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La. Rev. Stat. § 11:264.8, System policy regarding breach of fiduciary duty, Louisiana, version 1 as recorded 2026-10-04, yourstate.us, https://yourstate.us/provision/2673654
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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.