La. Admin. Code tit. 32 § VII-109
Current through Register Vol. 50, No. 11, November 20, 2024
Section VII-109 - Actions of AdministratorA. Every action taken by the commission shall be presumed to be a fair and reasonable exercise of the authority vested in or the duties imposed upon it. The commission shall be deemed to have exercised reasonable care, diligence and prudence and to have acted impartially as to all affected persons, unless the contrary is proven by affirmative evidence. No member, if a participant of the commission or a committee, shall make any determination (other than a policy decision which affects all participants) similarly situated with respect to his or her specific interest in deferred compensation under the plan. The commission shall not be liable for amounts of compensation deferred by participants or for other amounts payable under the plan.La. Admin. Code tit. 32, § VII-109
Promulgated by the Department of the Treasury, Deferred Compensation Commission, LR 24:1964 (October 1998).AUTHORITY NOTE: Promulgated in accordance with IRC §457 and R.S. 42:1301-1308.