72-17,127. Same; contracts with financial advisors authorized; payment for services; fidelity bond.
72-17,127
72-17,127. Same; contracts with financial advisors authorized;payment for services; fidelity bond.Any such board of education may enter into contracts with one or morefinancial advisors whom it determines to be qualified, whereby thefinancial advisors undertake to perform the functions specified inK.S.A. 72-17,125 to the extent provided in the contract.Performance of functions under contract so entered into shall be paidfor out of the gross interest or other income of the investments withrespect to which the functions are performed, and the net interest orother income of the investments after that payment shall be consideredincome of such retirement fund. Each board of education may require afinancial advisor contracted with to give a fidelity bond in such sum asmay be fixed by law or, if not so fixed, as may be fixed by the board ofeducation, with corporate surety authorized to do business in thisstate.
History: L. 1973, ch. 282, § 10; July 1.