Arkansas Statutes
§ 24-2-613 — Duties at inception of trusteeship
Arkansas·Title 24
(a)Within a reasonable time after accepting a trusteeship or receiving trust assets, trustees shall review the trust assets and make and implement decisions concerning the retention and disposition of assets in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances of the trust and with the requirements of this subchapter.
(b)(1) Trustees shall develop an investment policy. This policy shall be a written statement of goals for the fund and rules to be followed to achieve those goals.
(2)Trustees shall measure performance of the fund and shall measure each manager's performance against benchmarks jointly agreed upon by the trustees and managers.
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Legislative History
Acts 2001, No. 151, § 8.
Nearby Sections
15
§ 24-1-101
Assets and income for retirement systems§ 24-1-102
Annual valuation§ 24-1-103
Change of contribution rate§ 24-1-105
Liabilities exceeding thirty-year amortization period - Legislated benefit enhancement prohibited§ 24-1-106
Benefit enhancements§ 24-1-201
Declaration of policy§ 24-1-202
Definitions§ 24-1-203
Rules§ 24-1-206
Agents§ 24-1-207
Contributions - State employees