Maine Statutes
§ 5 §17108 — Investment counsel
Maine·Title 5 ADMINISTRATIVE PROCEDURES AND SERVICES·Part 20 STATE RETIREMENT SYSTEM·Ch. 421 GENERAL PROVISIONS
1.Contract.
The board may contract with one or more fiduciaries or registered investment advisors. All contracts with fiduciaries or registered investment advisors must have the approval of a majority of the board.
2.Duties.
The fiduciary or registered investment advisor has the following duties.
3.Expenses.
The expenses incurred in employing one or more fiduciaries or investment advisors shall be charged to earnings received from investments of the retirement system.
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Legislative History
PL 1985, c. 801, §§5,7 (NEW). PL 1993, c. 410, §L24 (AMD). PL 2003, c. 618, §B1 (AMD). PL 2003, c. 618, §B20 (AFF).
Nearby Sections
15
§ 5 §171
Definitions§ 5 §1710-A
Duties of commission§ 5 §1710-B
Contracts§ 5 §1710-C
Meetings§ 5 §1710-D
Staffing§ 5 §1710-F
Duties of committee§ 5 §1710-G
Use of revenue forecasts§ 5 §1710-H
Meetings§ 5 §1710-I
Staffing§ 5 §1710-J
Access to information§ 5 §1710-K
Performance budgeting; definitions§ 5 §1710-M
Duties of commission