Louisiana signs securities lending indemnification into law

To amend and reenact R.S. 49:321.1, relative to securities lending; to provide requirements and prohibitions for securities lending contracts involving securities from state funds; to provide with respect to the authority of the treasurer; and to provide for related matters.

Be it enacted by the Legislature of Louisiana: Section 1. R.S. 49:321.1 is hereby amended and reenacted to read as follows:

§321.1. Treasury securities lending

B. Each securities lending agent shall indemnify the state for any losses resulting from the insolvency of a borrower. Such indemnification shall be in writing and contained in the securities lending contract.

The full text of the Act is available at https://legis.la.gov/legis/ViewDocument.aspx?d=1235709

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