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b. Approval. Senior staff members will review and approve reimbursement
requests related to their areas of responsibility. In addition, the executive
director must approve each reimbursement request.
c. Meal Expenditures. As per rules established by the Internal Revenue
Service, the LSBA requires the following information for all meal
expenditures of $30 or more:
1.) The business purpose of the meal;
2.) Date and location; and
3.) Names and positions of individuals entertained, if applicable.

10. Time for Reimbursement. To be considered, reimbursements must be submitted
as indicated below:
a. 60-Day Rule. Reimbursement requests must be submitted within 60 days
of the date of the meeting or function for which reimbursement is
requested.
b. Fiscal Year. Reimbursement requests must be submitted and reimbursed
in the same fiscal year in which the expenses are incurred. Expenses for
each fiscal year (July 1 through June 30) must be received at the LSBA
offices by June 20 of that fiscal year in order to be considered for
reimbursement.

Amended June 8, 2015

L. Investments

1. HISTORY, PURPOSE AND RESPONSIBILITIES

History – The Louisiana State Bar Association (Association) is a nonprofit
organization which exists to assist and serve its members in the practice of law,
assure access to and aid in the administration of justice, assist the Supreme
Court in the regulation of the practice of law, uphold the honor of the courts
and the profession, promote the professional competence of attorneys, increase
public understanding of and respect for the law, and encourage collegiality
among its members.

Purpose – The Investment Policy Statement (IPS) will assist the Board of
Governors (Board) and the Budget Committee (Committee) in communicating
with and monitoring the various Investment Manager(s) (Manager) that will be
engaged to manage the assets of the Association.

Responsibilities

Of the Association – The Association recognizes its responsibility to ensure that
the assets of the Association are managed:
 For the exclusive interest of the Association and its members; and
 Effectively and prudently, in full compliance with the laws and principles
governing professional and trade associations.

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