this subsection.
Section 7. Investment policies and guidelines for the fund.
(a) General rule.--The investment policies shall provide for
an appropriate balance of risk, liquidity and return
commensurate with the management of a prudent investor.
(b) Authority to invest.--The department, its investment
managers, program managers and trustees shall have the authority
to invest and reinvest the fund in all lawful investments.
(c) Investment manager and trustee.--The department may
contract with one or more persons or other legal entities to
serve as investment managers, program managers and trustees to
the department on behalf of the ABLE account program. The
investment managers, program managers and trustees shall work
with the department to create an investment program or programs,
to develop investment portfolios and to supervise investments
and the investment programs selected.
(d) Liability.--The department, through contract, may impose
liability on investment managers, program managers and trustees
for losses incurred by the fund or the account owners as a
result of the investment managers', program managers' and
trustees' negligent, fraudulent or imprudent selection or
supervision of investments.
Section 8. ABLE Account Investment Program.
(a) Establishment.--The department shall establish an
investment plan that defines the ABLE Account Investment Program
structure and sets forth investment policies and guidelines. The
department may obtain the services of investment managers,
program managers and trustees as described in section 7(c) to
assist in establishing and administering the plan.
(b) Rules and procedures.--The department, pursuant to an
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