Maine Statutes
§ 5 §17110 — Custodial care of securities
Maine·Title 5 ADMINISTRATIVE PROCEDURES AND SERVICES·Part 20 STATE RETIREMENT SYSTEM·Ch. 421 GENERAL PROVISIONS
1.Contract or agreement.
The board may enter into a contract or agreement with any national bank, trust company or safe deposit company for custodial services for the securities belonging to any fund of the retirement system and other related services.
2.Payment for services.
The board may arrange for the payment of services rendered under this section:
3.Withdrawal or deposit.
The chief executive officer, or another person or persons designated to the custodian by the board, may withdraw securities from or deposit securities with the custodian as circumstances may require, except that all withdrawals or delivery instructions must bear the written approval of 2 other persons duly authorized by a resolution of the board.
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Legislative History
PL 1985, c. 801, §§5,7 (NEW). PL 1993, c. 410, §L25 (AMD). PL 1997, c. 398, §L3 (AMD). PL 2021, c. 548, §45 (REV).
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