TITLE 57

PUBLIC FUNDS IN GENERAL

CHAPTER 7

INVESTMENT OF PERMANENT ENDOWMENT AND EARNINGS RESERVE FUNDS

57-723.  Investment powers of the board — Application of Idaho uniform prudent investor act. Any other sections of the Code notwithstanding, the investment board or its investment manager(s) or custodian(s) shall have the care and control of all investment instruments representing mortgages, bonds, warrants, investments and other securities in which the permanent endowment funds and earnings reserve funds of the state shall be invested.

The investment board and its investment manager(s) shall be governed by the Idaho uniform prudent investor act (chapter 5, title 68, Idaho Code), and shall invest and manage the assets of the respective trusts in accordance with that act and the Idaho constitution.

History:

[57-723, added 1969, ch. 244, sec. 10, p. 764; am. 1972, ch. 69, sec. 6, p. 140; am. 1998, ch. 256, sec. 39, p. 840.]