4-5-23 Public funds to be invested by investment officer--Functions transferred--Agreements with ...
Public funds to be invested by investment officer--Functions transferred--Agreements
with risk-sharing entities.
The state investment officer is responsible for the investment of the state
public funds as defined in chapter 4-4. All functions, powers, and duties presently vested by law in
any officer, official, employee, agency, or commission which relates to the investment of the state
public funds and accounts enumerated in this section are transferred to the state investment officer.
In addition, the state investment officer may enter into agreements for the investment of cash
accounts, reserves, and surplus funds with public entities created for the purpose of risk sharing
pursuant to chapter 1-24. These entities' investments shall be restricted as provided in § 4-5-26. The
agreements shall provide for the transfer of money from the public entities investment pool to the
investment council expense account as provided in § 4-5-30.
Source: SL 1971, ch 27, § 13; SL 1984, ch 30, § 2; SL 1997, ch 37, § 1; SL 1999, ch 20, § 2.