Nebraska § 72-1242 State investment officer; personnel; employ; approval of Governor; employees; duties; exempted from State Personnel System; when

Nebraska Statutes

§ 72-1242 — State investment officer; personnel; employ; approval of Governor; employees; duties; exempted from State Personnel System; when

Nebraska § 72-1242

Ch. 72Public Lands, Buildings, and Funds

This text of Nebraska § 72-1242 (State investment officer; personnel; employ; approval of Governor; employees; duties; exempted from State Personnel System; when) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 72-1242 (2026).

Text

The state investment officer shall employ qualified personnel as may be required to carry out the duties and responsibilities required under the Nebraska State Funds Investment Act. Such employees shall be deemed state employees and covered by the State Personnel System pursuant to sections  81-1301  to  81-1368  and other personnel rules or regulations. At the discretion of the Nebraska Investment Council, investment managers who are employees of the council may be exempted from the State Personnel System. The state investment officer shall be exempt from the State Personnel System. All employees shall comply with state accounting regulations and applicable state and federal laws in the discharge of their duties. With the approval of the Governor, the state investment officer may retain c

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The state investment officer shall employ qualified personnel as may be required to carry out the duties and responsibilities required under the Nebraska State Funds Investment Act. Such employees shall be deemed state employees and covered by the State Personnel System pursuant to sections 81-1301 to 81-1368 and other personnel rules or regulations. At the discretion of the Nebraska Investment Council, investment managers who are employees of the council may be exempted from the State Personnel System. The state investment officer shall be exempt from the State Personnel System. All employees shall comply with state accounting regulations and applicable state and federal laws in the discharge of their duties. With the approval of the Governor, the state investment officer may retain counsel, auditors, financial advisors and private consultants on a contract basis or otherwise to render such professional service or advice as he or she may require in the performance of his or her duties.

Legislative History

Source: Laws 1969, c. 584, § 6, p. 2351; Laws 1996, LB 847, § 23. Annotations: One of the tests of compensability under the Workmen's Compensation Act, in cases related to recreational or social activities, is whether the employer derives substantial direct benefit from the activity. Kuethe v. State, 191 Neb. 167, 214 N.W.2d 380 (1974).