|Posted:||February 1, 2019 12:12 PM|
|From:||Representative Aaron D. Kaufer|
|To:||All House members|
|Subject:||Prudent Person Investment Standard|
|In the near future, I plan to reintroduce legislation to extend the authority of the State Treasurer to invest monies in the State Treasury according to the prudent investor standard.
Under this standard, the State Treasurer is required to act as a fiduciary with the care, skill, prudence, and diligence that a prudent person would use.
This investment standard was first applied to the State Treasurer in 2008, and its expiration has been extended periodically several times since. It is currently scheduled to expire in 2019, and this legislation would extend that date to 2021.
Please join me in cosponsoring this important legislation.
Introduced as HB628