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Duties of the Treasurer

The Treasurer shall head the Department of the Treasury and shall be responsible for the custody, investment, and disbursement of the public funds of the state. He shall report annually to the Governor and the Legislature at least one month before each regular session on the financial condition of the state. (Article IV, Section 9, Louisiana Constitution) The State Treasurer shall:

(1) receive and safely keep all the monies of this state, not expressly required by law to be received and kept by some other person;

(2) disburse the public money upon warrants drawn upon him according to law, and not otherwise;

(3) keep a true, just, and comprehensive account of all public money received and disbursed, in books to be kept for that purpose, in which he shall state from whom monies have been received, and on what account; and to whom and on what account disbursed;

(4) keep a true and just account of each head of appropriations made by law, and the disbursements under them;

(5) give information in writing to either house of the Legislature when required, upon any subject connected with the Treasury, or touching any duty of his office; and

(6) perform all other duties required of him by law. (La. RS. 49:307)

The State Treasurer shall advise the State Bond Commission, the Governor, the Legislature and other public officials with respect to the issuance of bonds and all other related matters; and shall provide information to rating services, financial institutions and other prospective bond buyers, other interested persons and the general public on all matters relating to the issuance and sale of bonds, the debt structure and the management of the debt of the State of Louisiana and all of its boards, departments, commissions, authorities and agencies.

The state treasurer shall organize and administer, within the office of the State Treasurer a state debt management section and shall select such assistants as are considered necessary by him to carry out the responsibilities imposed on him hereby. (La. R.S. 39:1404)

When a vacancy occurs in the office of the Governor, the order of succession shall be:

(1) the elected Lieutenant Governor,

(2) the elected Secretary of State,

(3) the elected Attorney General,

(4) the elected Treasurer,

(5) the presiding officer of the Senate,

(6) the presiding officer of the House of Representatives, and then

(7) as provided by law. (Article IV, Section 14, Louisiana Constitution)

The State Treasurer shall, within ten days after being officially informed of his election and before he is commissioned or enters on the discharge of the duties of his office, execute and deliver a faithful performance bond payable to the Governor for the sum of fifty thousand dollars. Premiums of the bond shall be paid by the state. (La. R.S. 49:305)

The Treasurer shall be commissioned by the Governor and before entering upon the discharge of the duties of his office, shall take and subscribe the oath prescribed by the constitution, which shall be endorsed on his commission. His commission shall not be issued by the Governor until the bond and surety shall have been given. (La. R.S. 49:301) The State Treasurer shall reside at the seat of government (La. R.S. 49:304) Qualifications: Must be a qualified elector, at least 25 years old, and must be a citizen of the United States and Louisiana for at least 5 years immediately preceding the date of qualification for office. (Article IV, Section 2, Louisiana Constitution) Term: Four years. May succeed himself for an unlimited number of terms. (Article IV, Section 3, Louisiana Constitution)

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