Colorado § 8-45-120 State treasurer to invest funds

Colorado Statutes

§ 8-45-120 — State treasurer to invest funds

Colorado § 8-45-120

Title 08Labor and

Art.Pinnacol Assurance

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Bluebook

Colo. Rev. Stat. § 8-45-120 (2026).

Text

(1)Except as provided in subsection (2) of this section, the state treasurer, after consulting with the board of directors or the board's designated committee as to the overall direction of the portfolio, shall invest any portion of the Pinnacol Assurance fund, including its surplus or reserves, which is not needed for immediate use. Such moneys may be invested in the types of investments authorized in sections 24-36-109, 24-36-112, and 24-36-113, C.R.S. Such moneys may also be invested in common and preferred stock in the same manner as a domestic insurance company pursuant to section 10-3-226, C.R.S. The state treasurer shall determine the appropriate percentage of the fund, not to exceed one hundred percent of the surplus, to be invested in common and preferred stock and the a

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(1) Except as provided in
subsection (2) of this section, the state treasurer, after consulting with the board of
directors or the board's designated committee as to the overall direction of the
portfolio, shall invest any portion of the Pinnacol Assurance fund, including its
surplus or reserves, which is not needed for immediate use. Such moneys may be
invested in the types of investments authorized in sections 24-36-109, 24-36-112,
and 24-36-113, C.R.S. Such moneys may also be invested in common and preferred
stock in the same manner as a domestic insurance company pursuant to section 10-3-226, C.R.S. The state treasurer shall determine the appropriate percentage of the
fund, not to exceed one hundred percent of the surplus, to be invested in common
and preferred stock and the appropriate level of risk for such investments. The
state treasurer may make such investments in the form of mutual funds and may
contract with private professional fund managers and employ portfolio managers.

(2) Subject to approval by the board, the chief executive officer may
authorize and direct the state treasurer to invest a portion of the funds in the
Pinnacol Assurance fund for the purchase of real property, to house, contain, and
maintain the offices and operational facilities of Pinnacol Assurance as may be
deemed necessary to accommodate its immediate and reasonably anticipated
future needs. The chief executive officer is authorized to purchase such real
property, buildings, and improvements thereon. Title to such real property,
buildings, and improvements thereon shall vest in Pinnacol Assurance, and such
assets shall be a part of the Pinnacol Assurance fund. The chief executive officer
may lease or rent space not needed for the immediate requirements of Pinnacol
Assurance in such real property to other public agencies or private businesses.
Moneys received from such rental or lease of space and moneys appropriated by
the general assembly for rental or lease of space in such real property shall be
deposited with the state treasurer for credit to the Pinnacol Assurance fund. The
chief executive officer shall not sell or otherwise dispose of any property, buildings,
or improvements thereon so acquired, without consent of the board, and the
moneys received from such sale or disposition shall be credited to the account of
the Pinnacol Assurance fund.

(3) Repealed.

Legislative History

Source: L. 90: Entire article R&RE, p. 540, � 1, effective July 1. L. 92: (3) amended, p. 1112, � 1, effective July 1. L. 97: (1) amended, p. 938, � 6, effective May 21; (3) repealed, p. 376, � 7, effective August 6. L. 2002: (1) and (2) amended, p. 1878, � 19, effective July 1.