§ 9-1-419 — Local government investment equities pool

Wyoming § 9-1-419

• Jurisdiction: Wyoming
• Title 09: Administration of the Government
• Ch. 1: STATE OFFICERS
• Art. 4: AUDITOR AND TREASURER

Text

(a) Upon request by any city, town, county, special
district, school district or any other political subdivision,
the state treasurer shall invest funds of one (1) or more of
these entities on a pooled basis in the same manner as the state
treasurer makes investments of state funds in equities,
including stocks of corporations, in accordance with law. The
state treasurer shall adopt rules that:
(i) Provide for the transmittal of funds from the
entities to the state treasurer for investment, the manner in
which the funds may be withdrawn from the investment pool by
entities, limitations on withdrawal of funds, accounting and
reporting procedures and any other provisions that will
effectively carry out the purposes of this section;
(ii) If determined by the state treasurer to be
necessary, establish fees to be charged to local governmental
entities that request the investment of funds under this
section. Any fees collected under this paragraph shall not
exceed the direct costs incurred by the state treasurer in
investing funds for each local governmental entity. Fees
collected under this paragraph shall be deposited into the
investment assistance account created by W.S. 9-1-416(a)(ii);
(iii) Establish a minimum fund size for the
investment of funds on a pooled basis under this section.
(b) Before requesting the state treasurer to invest funds
under this section, a local governmental entity shall
acknowledge in writing that the entity understands that
investing in equities involves risk of loss of some or all of
the amount invested.
(c) Nothing in this section shall be construed to require
the state of Wyoming to reimburse local governmental entities
for any losses that may occur on investments under this section.