3-13A-12. Transfer of funds from terminated investment selection.
56 words·~1 min read·
/sd/title-3/chapter-3-13/3-13a-12A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If a contract between the state investment officer and a vendor is terminated and a participant fails to notify the executive director or third-party administrator of the participant's new investment selection before the contract terminates, the executive director or third-party administrator shall transfer that participant's account to the investment alternative designated by the state investment officer.