257B.20 - INVESTMENT OF PERMANENT FUND.
257B.20 INVESTMENT OF PERMANENT FUND.
The permanent school fund which is, at any time, in the custody of
the treasurer of state, shall be invested as follows:
1. In bonds or other evidences of indebtedness issued, assumed,
or guaranteed by the United States of America, or by any agency or
instrumentality thereof.
2. In bonds, or other evidences of indebtedness of the state of
Iowa, or of any school district, county, township, city or other
political subdivision of the state of Iowa which are issued pursuant
to law.
3. In savings accounts or in time deposits in Iowa banks approved
as depositories by the executive council.
4. In any investments authorized for the Iowa public employees'
retirement system in section 97B.7A, except that investment in common
stocks shall not be permitted. Section History: Early Form
[C39, § 4487.1; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79,
81, § 302.20] Section History: Recent Form
C93, § 257B.20
2001 Acts, ch 68, §16, 24