Sec. 3-22i. Investment of funds in the trust.
Sec. 3-22i. Investment of funds in the trust. Notwithstanding sections 3-13 to 3-13h, inclusive, the Treasurer shall invest the amounts on deposit in the trust in a manner
reasonable and appropriate to achieve the objectives of the trust, exercising the discretion
and care of a prudent person in similar circumstances with similar objectives. The Treasurer shall give due consideration to rate of return, risk, term or maturity, diversification
of the total portfolio within the trust, liquidity, the projected disbursements and expenditures, and the expected payments, deposits, contributions and gifts to be received. The
Treasurer shall not require the trust to invest directly in obligations of the state or any
political subdivision of the state or in any investment or other fund administered by the
Treasurer. The assets of the trust shall be continuously invested and reinvested in a
manner consistent with the objectives of the trust until disbursed for qualified educational expenses, expended on expenses incurred by the operations of the trust, or refunded to the depositor or designated beneficiary on the conditions provided in the
participation agreement.
(P.A. 97-224, S. 4, 12.)
History: P.A. 97-224 effective July 1, 1997.