Any parish, municipality, school board, special district, or political subdivision may legally invest any monies or funds belonging to them or within their control in a BIDCO established pursuant to this Chapter. Nothing contained in this Section with regard to legal investments shall be construed as relieving any person or persons of any duty of exercising reasonable care in selecting securities.
La. R.S. 51:2395.1
Legal investments
Known as the Louisiana Business and Industrial Development Company Act
The act spans §§ 51-2370.51 to 51-2406 (43 sections).
Acts 2007, No. 159, §2.
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.