2.14.080 - Duties of administrator -- Investments and earnings.

Duties of administrator — Investments and earnings.

(1) The administrator for the courts shall:

     (a) Deposit or invest the contributions under RCW 2.14.090 in a credit union, savings and loan association, bank, or mutual savings bank;

     (b) Purchase life insurance, shares of an investment company, or fixed and/or variable annuity contracts from any insurance company or investment company licensed to contract business in this state; or

     (c) Invest in any of the class of investments described in RCW 43.84.150.

     (2) The state investment board or the department of retirement systems, at the request of the administrator for the courts, may invest moneys in the principal account. Moneys invested by the investment board shall be invested in accordance with RCW 43.84.150. Moneys invested by the department of retirement systems shall be invested in accordance with applicable law. Except as provided in RCW 43.33A.160 or as necessary to pay a pro rata share of expenses incurred by the department of retirement systems, one hundred percent of all earnings from these investments, exclusive of investment income pursuant to RCW 43.84.080, shall accrue directly to the principal account.

[1996 c 39 § 20; 1991 sp.s. c 13 § 103; 1989 c 139 § 3; 1988 c 109 § 19.]

Notes: Effective dates -- 1996 c 39: See note following RCW 41.32.010.

Effective dates -- Severability -- 1991 sp.s. c 13: See notes following RCW 18.08.240.

Effective date -- 1988 c 109: See note following RCW 2.10.030.