TITLE 17. EDUCATION

CHAPTER 2. TEACHERS AND EMPLOYEES

PART IX. ORLEANS PARISH SCHOOL EMPLOYEES RETIREMENT SYSTEM

SUBPART C. MANAGEMENT AND EXPENDITURE OF FUNDS

17:1053    Cash deposits for payment of pensions, etc., limitations as to amount

  Available cash, not exceeding ten per centum of the total amount in the several accounts of the retirement system, may be kept on deposit in one or more banks or trust companies organized under the laws of the United States or the State of Louisiana and located in the City of New Orleans, for the purpose of meeting disbursements for pensions, annuities, and other payments.