2006 Nebraska Revised Statutes - § 79-9,108 — Employees retirement system; funds; investment manager; duties; board of education or Class V Retirement System Board; investments; approve or disapprove.

Section 79-9,108
Employees retirement system; funds; investment manager; duties; board of education or Class V Retirement System Board; investments; approve or disapprove.
Section 79-9,108

The trustees, with approval of the board of education or Class V Retirement System Board, shall invest and reinvest funds of the retirement system. A professional investment manager may be employed by the trustees subject to approval of the board of education or Class V Retirement System Board. The professional investment manager shall be responsible for the purchase, sale, exchange, investment, or reinvestment of such funds subject to guidelines determined by the trustees. The trustees shall each month submit a report to the board of education or Class V Retirement System Board with respect to the investment of funds. The board of education or Class V Retirement System Board shall approve or disapprove the investments in the report, and in the event of disapproval of any investment, the board shall direct the sale of all or part of such investment or establish future policy with respect to that type of investment.

Source:

Laws 1967, c. 545, § 2, p. 1791

Laws 1991, LB 350, § 7

R.S.1943, (1994), § 79-1051.01

Laws 1996, LB 900, § 643

Laws 2006, LB 1024, § 68.

~ Revised Statutes Cumulative Supplement, 2006