§ 9-4-721 — Investment funds committee; selection panel

Wyoming § 9-4-721

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

Text

(a) There is created the selection panel to appoint voting
members to the investment funds committee as provided in W.S. 9-
4-720. The panel consists of five (5) members composed of one
(1) member appointed by each of the members of the board. Each
selection panel member shall possess financial knowledge and
experience to qualify them for the position. Once appointed, a
selection panel member shall serve for the term of office of the
board member who appointed them but may be removed by the
appointing board member. Upon the temporary appointment or
election of a board member or upon a vacancy by the selection
panel member that the board member is responsible for
appointing, the board member shall appoint a selection panel
member not later than sixty (60) days after assuming the office
for which the board member was appointed or elected.
(b) The selection panel shall elect a chairman from among
its members. The selection panel shall research and interview
candidates for the investment funds committee. The selection
panel shall solicit nominations for candidates for the
investment funds committee from the state treasurer's office,
other members of the investment funds committee, other
appropriate entities and the board. Interested persons may apply
directly to the panel. A member of the selection panel who seeks
to be a candidate for the investment funds committee shall
resign from the selection panel before seeking a nomination to
the investment funds committee.
(c) No candidate shall be appointed by the selection panel
to the investment funds committee unless the candidate has all
of the following qualifications:
(i) Not less than seven (7) years of institutional
investment experience involved in the management of a portfolio
in excess of five hundred million dollars ($500,000,000.00);
(ii) A broad understanding of financial markets;
(iii) Not been convicted of or pleads guilty or nolo
contendere to a felony violation or been the subject of any
disciplinary action involving moral turpitude;
(iv) No conflicts of interest that would lead to a
violation of W.S. 6-5-106, 6-5-118, 16-6-118 or other comparable
provision of law.
(d) Staff and support for the selection panel shall be
provided by the office of the state treasurer. Members of the
panel who are not employees or elected officials of the state of
Wyoming shall receive per diem and travel expense reimbursement
in the manner and amount prescribed for legislators under W.S.