Sec. 3-13i. Contracts for services related to investment of trust funds.
Sec. 3-13i. Contracts for services related to investment of trust funds. On and
after January 1, 2001, or on and after the first adoption of an investment policy statement
under section 3-13b, whichever is later, any contract for services related to the investment of trust funds, as defined in section 3-13c, shall be subject to the investment policy
statement adopted under section 3-13b. No contract for services related to the investment
of such funds shall be awarded to a provider of such services until the Treasurer's recommendation of a provider is reviewed by the Investment Advisory Council. The Treasurer
shall provide notice of such recommendation at a meeting of the council. Not later
than forty-five days after such meeting, the council may file a written review of the
Treasurer's recommendation concerning the selection of such provider with the Office
of the Treasurer where it shall be available for public inspection. The Treasurer may
proceed to award the contract after such forty-five-day period.
(P.A. 00-43, S. 3, 19.)
History: P.A. 00-43 effective May 3, 2000.