42.525 Authority to promulgate administrative regulations.
112 words·~1 min read·
/ky/chapter-42/42-525A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The State Investment Commission shall promulgate administrative regulations for
the investment and reinvestment of state funds and the acquisition, retention,
management, and disposition of investments.
(2)The regulations shall specify:
(a)The long and short term goals of any investment;
(b)The specification of moneys to be invested;
(c)The amount of funds which may be invested per instrument;
(d)The qualifications of instruments;
(e)The acceptable maturity of investments;
(f)The investment procedure with respect to in-state and out-of-state depositories
provided that funds available for investment shall be offered first to qualified
Kentucky depositories consistent with the investment guidelines; and
(g)The distribution method of funds among types of institutions.