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|   Idaho Statutes
ati12478.tmp
COURTS AND COURT
OFFICIALS CHAPTER 20 JUDGES’ RETIREMENT AND COMPENSATION 1-2008.Investment of judges’ retirement fund. (1) The endowment fund investment
board established in section 57-718, Idaho Code,
shall at the direction of the supreme court select and contract with
investment managers to manage the investment of the judges’
retirement fund. The investment managers shall, subject to the direction
of the board, exert control over the funds as though the investment
managers were the owner thereof and are hereby authorized to invest
the judges’ retirement fund as hereinafter provided. (a) Subject
to the approval of the supreme court, the investment board shall formulate
an investment policy governing the investment of judges’ retirement
funds. The policy shall pertain to the types, kinds or nature of investment
of any of the funds, and any limitations, conditions or restrictions
upon the methods, practices or procedures for investment, reinvestments,
purchases, sales or exchange transactions, provided such policy shall
not conflict with nor be in derogation of any Idaho constitutional
provision or of the provisions of this chapter. Provided further,
the supreme court may, in its sole discretion, limit any of the investments
permitted by the investment policy. (b) In acquiring,
investing, reinvesting, exchanging, retaining, selling and managing
the moneys and securities of the fund, investment managers shall also
be governed by the prudent man investment act, sections 68-501 through 68-506, Idaho Code;
provided, however, that the supreme court may in its sole discretion,
limit the types, kinds and amounts of such investments. (2) The
investment board shall be responsible for assuring that the investment
managers comply with this section. (3) The
investment board, subject to the approval of the supreme court, is
hereby authorized to select and contract with a bank or trust company
authorized to do business in the state of Idaho, to act as custodian
of the judges’ retirement fund, who shall hold all securities
and moneys of the judges’ retirement fund and shall collect
the principal, dividends and interest thereof when due and pay the
same into the judges’ retirement fund. (4) The
state treasurer shall pay all warrants drawn on the judges’
retirement fund for making such investments when issued pursuant to
vouchers signed by the chief justice of the supreme court. The Idaho Code is made available on the Internet by the Idaho Legislature as a public service. This Internet version of the Idaho Code may not be used for commercial purposes, nor may this database be published or repackaged for commercial sale without express written permission. Search the Idaho Statutes Available Reference: Search Instructions. The Idaho Code is the property of the state of Idaho, and is copyrighted by Idaho law, I.C. § 9-350. According to Idaho law, any person who reproduces or distributes the Idaho Code for commercial purposes in violation of the provisions of this statute shall be deemed to be an infringer of the state of Idaho's copyright. |
