2006 Louisiana Laws - RS 11:1821 — Board of trustees; membership; term of office; oath of office; compensation; voting power; vacancies

PART V.  ADMINISTRATION

§1821.  Board of trustees; membership; term of office; oath of office; compensation; voting power; vacancies

A.  The board of trustees is authorized and empowered to administer the provisions of this Chapter and to establish such rules and regulations as required for the administration of its funds and transaction of its business.

B.  The board shall consist of nine trustees, six of whom shall be active and contributing members of the system with at least ten years of creditable service, elected by the members of this system in accordance with the election rules prescribed by the board; one of whom shall be the president of the Louisiana Municipal Association who shall serve as an ex officio member during his tenure; one of whom shall be the chairman of the Senate Finance Committee, but after April 15, 1980, his place shall be taken by the chairman of the Senate Retirement Committee, or his designee, who shall serve as a voting ex officio member; and one of whom shall be the chairman of the House Retirement Committee of the Legislature of Louisiana, or his designee, who shall serve as a voting ex officio member.

C.(1)  Except as otherwise provided in this Subsection, the term of office for each of the six trustees who are active contributing members of the system shall be for a period of six years.

(2)  Notwithstanding the provisions of Paragraph (1) of this Subsection, the term of office for the person elected to serve on the board of trustees in 2003 shall be five years, and the term of office for the person elected to serve on the board of trustees in 2006 shall be seven years.  Thereafter, the terms of their successors shall be six years.

D.  Each trustee shall, not later than the first board meeting following his election or appointment, take an oath of office that he will diligently and honestly administer the affairs of the board, and that he will not knowingly or willingly permit to be violated any provision of law applicable to the system.  Such oath shall be subscribed to by the member, certified by a board officer and immediately filed with the secretary of state.

E.  The trustee shall serve without compensation but shall be reimbursed at the rate of fifty dollars for each regularly scheduled meeting of the board and for reasonable expenses in performing duties on behalf of the board.

F.  Each trustee shall be entitled to one vote on any and all actions before the board, with a majority of concurring votes being required for every decision or action by the board at any of its meetings.  No decision or action shall become effective unless presented and so approved at a regular or duly called special meeting of the board.

G.  A vacancy in the board shall be filled for the unexpired term by election by the members of the system, except that if the unexpired term is less than two years, the board may fill the vacancy by appointment, for the unexpired portion of the term.  If a trustee retires, he may continue to serve for the remainder of the term for which he was elected, however, if he otherwise separates from membership, his term shall expire.

H.(1)  Any person whose name is submitted to the system as a candidate for election to the board of trustees shall have his name included on the election ballot, provided his name is submitted in accordance with the rules applicable to all candidates for such election.

(2)  Upon receipt, each ballot received by the system shall be stored and kept in a secure location within the system office with access being limited to the director or his designee who can certify the date of receipt of each ballot and the safeguard procedures related thereto.

(3)  The director of the system shall provide sufficient advance written notice to each person whose name appears on the election ballot, stating the time, date, and location that the election ballots will be counted and the results announced.  Each nominee shall be eligible to attend the counting of the ballots.

Acts 1978, No. 788, §1; Redesignated from R.S. 33:7311 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 1995, No. 1013, §1; Acts 2001, No. 848, §1, eff. July 1, 2001.