La. Stat. tit. 17 § 99
Current with operative changes from the 2024 Third Special Legislative Session
Parish and city school boards may invest any funds which they may have on hand, from whatever source derived, in direct obligations of the United States government and in time certificates of deposit of state banks organized under the laws of Louisiana and national banks having their principal office in the state of Louisiana.
La. R.S. § 17:99