Section 11:264.6 - Cofiduciary liabilityA. Any fiduciary who participates in a breach committed by a cofiduciary, or who tries to conceal a cofiduciary's breach, shall be held liable jointly for breach of fiduciary duty. Cofiduciary liability also results from a fiduciary's failure to use reasonable care to prevent a cofiduciary from committing a breach.B. Any fiduciary who has knowledge of a cofiduciary's breach has a duty to remedy the breach.La. Consolidated Public Retirement § 11:264.6
Acts 1992, No. 1046, §1, eff. July 1, 1993.Acts 1992, No. 1046, §1, eff. 7/1/1993.