Missouri § 103.032 Investment counselors may be employed for investment advice, qualifications, duties.

Missouri Statutes

§ 103.032 — Investment counselors may be employed for investment advice, qualifications, duties.

Missouri § 103.032

Title VIIIPUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS

Ch. 103Health Plan for State Employees

This text of Missouri § 103.032 (Investment counselors may be employed for investment advice, qualifications, duties.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 103.032 (2026).

Text

The board may employ or contract with an investment counselor or counselors to be the investment advisor to the board.  The board may delegate to such investment counselor authority to act in place of the board in the investment and reinvestment of all or part of the moneys of the plan, and may also delegate to such counselor the authority to act in place of the board in the holding, purchasing, selling, assigning, transferring or disposing of any or all securities and investments in which such moneys have been invested, as well as the proceeds of such investments.  Such investment counselor or counselors shall be registered as an investment advisor with the United States Securities and Exchange Commission.  In exercising or delegating its investment powers and authority, members of the bo

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The board may employ or contract with an investment counselor or counselors to be the investment advisor to the board. The board may delegate to such investment counselor authority to act in place of the board in the investment and reinvestment of all or part of the moneys of the plan, and may also delegate to such counselor the authority to act in place of the board in the holding, purchasing, selling, assigning, transferring or disposing of any or all securities and investments in which such moneys have been invested, as well as the proceeds of such investments. Such investment counselor or counselors shall be registered as an investment advisor with the United States Securities and Exchange Commission. In exercising or delegating its investment powers and authority, members of the board shall exercise ordinary business care prudence under the facts and circumstances prevailing at the time of the action or decision. In so doing, the board shall consider long- and short-term needs of the plan in carrying out its purposes, the plan's present and anticipated financial requirements, the expected total return on the plan's investment, general economic conditions, income, growth, long-term net appreciation, and probable safety of funds. No member of the board shall be liable for any action taken or omitted with respect to the exercise of or delegation of these powers and authority if such member shall have discharged the duties of his or her position in good faith and with that degree of diligence, care, and skill which prudent men and women would ordinarily exercise under similar circumstances in a like position.