§ 9-4-717 — Additional investment matters

Wyoming § 9-4-717

• Jurisdiction: Wyoming
• Title 09: Administration of the Government
• Ch. 4: PUBLIC FUNDS
• Art. 7: INVESTMENT OF STATE FUNDS

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(a) The state treasurer may form entities required in the
general practice employed by banks and brokerage firms for the
purpose of designating a "nominee name" in securities
transactions.
(b) The state treasurer may offer and pay a reasonable
premium for bonds and other securities. The purchase price shall
not exceed the market value of the bonds or other securities at
the time of purchase. The premium paid for the investments shall
be amortized over the life of the investment to the fund or
account from which the premium was paid.
(c) The state treasurer directly, or investment managers
of state funds, may effect sales or exchanges of investments of
state funds, whenever the sale or exchange will result in a loss
of principal, if the sale or exchange tends to maximize the
total return on the funds invested and is otherwise consistent
with implementation of the state investment policy established
by the board under W.S. 9-4-716.
(d) As part of the state investment strategy, the state
treasurer may retain the services of a custodial bank or an
independent securities lending agent to supervise a program of
securities lending in exchange for a fee or other consideration.
Supervision of the program shall include:
(i) Procedures to review the creditworthiness of all
borrowers;
(ii) Requirements for full collateralization of all
loans; and
(iii) Other methods and procedures required by the
board for securing the lending program.
(e) In making any new investment of state funds under this
act or investing state or other funds as otherwise authorized by
law, the state treasurer shall consult with the designated chief
investment officer or the officer's designee.