Title 51 Chapter 7

Title 51Public Funds and Accounts (Download: PDF | RTF | WordPerfect)
Chapter 7State Money Management Act (Download: PDF | RTF | WordPerfect)
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Section 1 Short title of chapter.
Section 2 Exemptions from chapter.
Section 3 Definitions.
Section 3.5 State fiscal year.
Section 4 Transfer of functions, powers, and duties relating to public funds to state treasurer -- Exceptions -- Deposit of income from investment of state money.
Section 5 Transfer of public funds not otherwise required to be transferred to state treasurer -- Duties of public treasurers -- Withdrawals of transferred funds.
Section 6 Calculation of shares of participating funds -- Allocations of income to participating funds.
Section 7 Securities and evidence of deposits and investments -- Custody -- Deposit for safekeeping.
Section 8 Separate accounts for funds -- Credit of allocated shares of income and gains or losses.
Section 9 Quarterly reports by state treasurer -- Audit of accounts of state treasurer -- Report of audit -- Employment of investment staff and services.
Section 9.5 State School Fund report.
Section 11 Authorized deposits or investments of public funds.
Section 11.5 Certified investment advisers -- Scope of and limits to authority.
Section 12.2 Definitions -- Local government other post-employment benefits trust fund -- Investments -- State treasurer duties.
Section 12.5 Deposit or investment of the Employers' Reinsurance Fund and Uninsured Employers' Fund -- Authorized deposits and investments -- Asset manager.
Section 13 Funds of member institutions of state system of higher education and public education foundations -- Authorized deposits or investments.
Section 14 Prudent man rule for management of investments -- Sale of security or investment for less than cost.
Section 15 Bonds of state treasurer and other public treasurers -- Reports to council.
Section 16 State Money Management Council -- Members -- Terms -- Vacancies -- Chair and vice chair-- Executive secretary -- Meetings -- Quorum -- Members' disclosure of interests -- Per diem and expenses.
Section 17 Criteria for investments.
Section 18 Duties of council.
Section 18.1 Qualified depositories list -- Reports -- Treatment of confidential information -- Powers -- Staff -- Limits on powers.
Section 18.2 Public treasurer's reports -- Contents.
Section 18.3 Certified dealers' list -- Fees.
Section 18.4 Certified investment advisers' list -- Fees.
Section 19 Increase in deposits of public funds -- Authorization.
Section 22 Penalty for violation by public treasurer.
Section 22.4 Penalties for violation by certified investment advisers.
Section 22.5 Enforcement.
Section 23 Investments previously authorized allowed until liquidated.
Section 24 Sales and purchase in violation -- Remedies -- Limitation of action.
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