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Code · Louisiana · Title 11 — Consolidated Public Retirement

RS 11:264.6

81 words·~1 min read·/la/title-11/11-642

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RS 11:264.6
§264.6. Cofiduciary liability
A. 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.
Acts 1992, No. 1046, §1, eff. July 1, 1993.
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