North Dakota Statutes
§ 21-10-07 — Legal investments
The state investment board shall apply the prudent investor rule in investing for funds under
its supervision. The "prudent investor rule" means that in making investments the fiduciaries
shall exercise the judgment and care, under the circumstances then prevailing, that an
institutional investor of ordinary prudence, discretion, and intelligence exercises in the
management of large investments entrusted to it, not in regard to speculation but in regard to
the permanent disposition of funds, considering probable safety of capital as well as probable
income. The retirement funds belonging to the teachers' fund for retirement and the public
employees retirement system must be invested exclusively for the benefit of their members and
in accordance with the respective funds' investment goals
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Nearby Sections
15
§ 21-01-01
Definitions§ 21-01-02
Warrant - Order of payment§ 21-01-03
Maximum amount of warrants or indebtedness - Violation of provisions - Liability - Penalty§ 21-01-04
Warrants for current expenses§ 21-01-05
Warrants for salaries and official publications - Payable one-half in cash prior to other warrants§ 21-01-07
Warrant register - By whom kept - Form§ 21-01-10
Cashbook and register open to inspection§ 21-02-01
Definitions§ 21-02-03
Certificate of county auditor§ 21-02-04
Signing false certificates - Penalty