New Orleans |
Code of Ordinances |
Chapter 114. PERSONNEL |
Article III. RETIREMENT SYSTEM |
Division 2. ADMINISTRATION |
§ 114-73. Use of agents, attorneys and experts; limitation of liability.
A.
The trustees may execute any of the duties required of them by or through attorneys, agents, receivers or employees, and shall be entitled to the advice of counsel and other experts concerning the execution of the duties imposed upon them hereunder.
B.
The trustees shall be entitled to rely upon all tables, valuations, certificates, and reports furnished by an actuary, upon all certificates and reports made by any accountant, and upon all opinions and advice given by legal counsel.
C.
The trustees shall not be answerable for the default or misconduct of any attorney, actuary, agent, or employee who is selected by the trustees with reasonable care or who is designated hereunder.
D.
If a member of the board of trustees believes it to be reasonably necessary to consult with counsel concerning any of his duties hereunder, or if a trustee becomes involved in litigation on account of having received property subject to this article, then in either case, the trustee's reasonable costs, expenses and reasonable attorneys' fees shall be paid by the city.
E.
The trustees may provide, as a system expense, adequate insurance protection for their acts carried out in good faith.
F.
The board shall not further be answerable for the exercise of any discretion or power under this article or for anything whatsoever in connection with the duties created in this article, except only for gross negligence and/or bad faith.
(M.C.S., Ord. No. 26460, § 2, 6-18-15)