Idaho § 57-721 MANAGEMENT BY MANAGER OF INVESTMENTS — APPOINTMENT OF CUSTODIAN

Idaho Statutes

§ 57-721 — MANAGEMENT BY MANAGER OF INVESTMENTS — APPOINTMENT OF CUSTODIAN

Idaho·Title 57 PUBLIC FUNDS IN GENERAL·Ch. 7 INVESTMENT OF PERMANENT ENDOWMENT AND EARNINGS RESERVE FUNDS

(1)The investment board shall contract with or employ a manager of investments to manage the permanent endowment funds, the earnings reserve funds, and such other funds as the investment board is authorized to invest. The manager of investments who is employed or contracted with shall, subject to the direction of the investment board, exert control over the funds as though the manager of investments were the owner thereof.

(2)The investment board may select and contract with a minimum of one (1) bank or trust company to act as custodian of fund assets and provide safekeeping thereof.

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(1) The investment board shall contract with or employ a manager of investments to manage the permanent endowment funds, the earnings reserve funds, and such other funds as the investment board is authorized to invest. The manager of investments who is employed or contracted with shall, subject to the direction of the investment board, exert control over the funds as though the manager of investments were the owner thereof.
(2) The investment board may select and contract with a minimum of one (1) bank or trust company to act as custodian of fund assets and provide safekeeping thereof.

Idaho § 57-721 (MANAGEMENT BY MANAGER OF INVESTMENTS — APPOINTMENT OF CUSTODIAN) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

[57-721, added 1969, ch. 244, sec. 8, p. 764; am. 1972, ch. 69, sec. 4, p. 140; am. 1997, ch. 162, sec. 1, p. 467; am. 1998, ch. 256, sec. 37, p. 839; am. 2000, ch. 65, sec. 2, p. 146; am. 2007, ch. 263, sec. 3, p. 781.]