2005 Idaho Code - 1-2008 — INVESTMENT OF JUDGES\' RETIREMENT FUND

                                   TITLE  1
                          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.