Heat the olive oil or bacon fat in a large pot over medium-high heat and cook the trinity (onions, bell peppers, and celery) until the onions have become translucent; add the garlic and continue to cook, stirring, for an additional minute. Add the dried parsley, thyme, basil, oregano, sage, cayenne pepper, and white pepper to the trinity and stir everything together.
Pour the chicken broth into the pot; add the red beans, ham hock (or bone), and the bay leaves to the pot. Bring the broth to a boil, then lower heat and cover the pot. Let the beans simmer for one hour, stirring occasionally to make sure that the beans do not stick to the bottom of the pot. After one hour, remove the lid and continue to simmer the beans for an additional 2-3 hours and the beans are tender and at the consistency that you prefer - add water or more broth, as needed.
Remove the ham hock (or bone) from the pot and take off the meat from the bone. Chop the meat into smaller pieces and return to the pot. Add the shot of hot sauce and adjust the flavor of the beans with salt and pepper.
Serve the red beans in bowls with hot white rice and garnished with green onions.