La. Admin. Code tit. 32 § VII-1901
Current through Register Vol. 50, No. 11, November 20, 2024
Section VII-1901 - InterpretationA. Governing Law. This plan shall be construed under the laws of the state of Louisiana.B.Section 457. This plan is intended to be an eligible deferred compensation plan within the meaning of § 457 of the Internal Revenue Code, and shall be interpreted so as to be consistent with such Section and all regulations promulgated thereunder.C. Employment Rights. Nothing contained in this plan shall be deemed to constitute an employment agreement between any participant and the employer and nothing contained herein shall be deemed to give a participant any right to be retained in the employ of the employer.D. Days and Dates. Whenever time is expressed in terms of a number of days, the days shall be consecutive calendar days, including weekends and holidays, provided, however, that if the last day of a period occurs on a Saturday, Sunday or other holiday recognized by the employer, the last day of the period shall be deemed to be the following business day.E. Word Usage. Words used herein in the singular shall include the plural and the plural the singular where applicable, and one gender shall include the other genders where appropriate.F. Headings. The headings of articles, sections or other subdivisions hereof are included solely for convenience of reference, and if there is any conflict between such headings and the text of the plan, the text shall control.G. Entire Agreement. This plan document shall constitute the total agreement or contract between the commission and the participant regarding the plan. No oral statement regarding the plan may be relied upon by the participant. This plan and any properly adopted amendment, shall be binding on the parties hereto and their respective heirs, administrators, trustees, successors, and assigns and on all designated beneficiaries of the participant.La. Admin. Code tit. 32, § VII-1901
Promulgated by the Department of the Treasury, Deferred Compensation Commission, LR 24:1972 (October 1998), amended LR 28:1503 (June 2002).AUTHORITY NOTE: Promulgated in accordance with R.S. §42:1301-1308 and IRC §457.