§ 9-4-108 — Crediting of investment returns

(a) Earnings on state funds invested by the state
treasurer shall be credited to accounts or funds as provided by
law and as follows:
(i) Interest, dividends and rents earned shall be
credited not later than at the end of the second month following
each fiscal quarter;
(ii) Subject to paragraph (iii) of this subsection,
other realized earnings shall be credited as soon as practicable
after the end of the fiscal year but no later than ninety (90)
days after the end of the fiscal year in which the earnings were
realized;
(iii) Any debit against the account or fund which
exists as a result of realized investment losses from a prior
year's investments of the fund or account shall be paid before
distributions under paragraph (ii) of this subsection;
(iv) Subject to the requirements of paragraph (iii)
of this subsection, the state treasurer may credit any earnings
at such earlier times than provided in this section and in such
amounts as may be advantageous for the state's investment
program and cash management.
(b) Any provision of law which specifies the crediting or
distribution of a state fund investment earnings to a specific
fund or account at a time different than the provisions of this
section shall control over this section.