§ 21-10-05 — Investment director - Powers and duties

Subject to the limitations contained in the law or the policymaking regulations or resolutions
adopted by the board, the investment director may sign and execute all contracts and
agreements to make purchases, sales, exchanges, investments, and reinvestments relating to
the funds under the management of the board. This section is a continuing appropriation of all
moneys required for the making of investments of funds under the management of the board.
The investment director shall see that moneys invested are at all times handled in the best
interests of the funds. Securities or investments may be sold or exchanged for other securities
or investments.
The investment director shall formulate and recommend to the investment board for
approval investment regulations or resolutions pertaining to the kind or nature of investments
and limitations, conditions, and restrictions upon the methods, practices, or procedures for
investment, reinvestment, purchase, sale, or exchange transactions that should govern the
investment of funds under this chapter.
21-10-06. Funds under management of board - Accounts.
1. Subject to the provisions of section 21-10-02, the board shall invest the following
funds:
a. State bonding fund.
b. Teachers' fund for retirement.
c. State fire and tornado fund.
d. Workforce safety and insurance fund.

e. Public employees retirement system.
f. Insurance regulatory trust fund.
g. State risk management fund.
h. Budget stabilization fund.
i. Water projects stabilization fund.
j. Health care trust fund.
k. Cultural endowment fund.
l. Petroleum tank release compensation fund.
m. Legacy fund.
n. Opioid settlement fund.
o. A fund under contract with the board pursuant to subsection 3.
2. Separate accounting must be maintained for each of the funds listed in subsection 1.
The moneys of the individual funds may be commingled for investment purposes when
determined advantageous.
3. The state investment board may provide investment services to, and manage the
money of, any agency, institution, or political subdivision of the state, subject to
agreement with the industrial commission. The scope of services to be provided by the
state investment board to the agency, institution, or political subdivision must be
specified in a written contract. The state investment board may charge a fee for
providing investment services and any revenue collected must be deposited in the
state retirement and investment fund.