TITLE 17. EDUCATION

CHAPTER 2. TEACHERS AND EMPLOYEES

PART IX. ORLEANS PARISH SCHOOL EMPLOYEES RETIREMENT SYSTEM

SUBPART C. MANAGEMENT AND EXPENDITURE OF FUNDS

17:1055    Private interest of trustees and employees in financial operation of system prohibited

  Except as otherwise herein provided, no trustee and no employee of the board of trustees shall have any direct interest in the gains or profit 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 name, 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 become an endorser or surety or in any manner an obligor for monies loaned or borrowed from the board of trustees.