Louisiana § RS 17:3085 - Louisiana Tuition Trust Authority; powers relative to the administration of the program

§ RS 17:3085. Louisiana Tuition Trust Authority; powers relative to the administration of the program

            In addition to any other powers conferred by this Chapter, the authority may do any of the following:

            (1) Purchase insurance from insurers licensed to do business in this state providing for coverage against any loss in connection with the authority's property, assets, or activities or to further ensure the value of ABLE accounts.

            (2) Indemnify or purchase policies on behalf of members, officers, and employees of the authority from insurers licensed to do business in this state providing for coverage for any liability incurred in connection with any civil action, demand, or claim against a director, officer, or employee by reason of an act or omission by the director, officer, or employee that was not manifestly outside the scope of his employment or official duties or with malicious purpose, in bad faith, or in a wanton or reckless manner.

            (3) Make, execute, and deliver contracts, conveyances, and other instruments necessary to the exercise and discharge of the powers and duties of the authority.

            (4) Promote, advertise, and publicize the program.

            (5) Solicit, accept, and expend gifts or grants.

            Acts 2016, No. 604, §1.