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Montana Title 19. Public Retirement Systems § 19-18-402. Investment of fund by trustees

Current as of January 01, 2024 | Updated by Findlaw Staff

(1) Subject to the provisions of 19-18-403, when directed by a majority vote of the members of the association, the board of trustees may invest the surplus money in the fund or any part of the surplus money in:

(a) time or saving deposits in a solvent bank, building and loan association, savings and loan association, or credit union operating in the county in which the city or town is located;

(b) bonds or other securities of the United States government; or

(c) general obligation bonds or warrants of any state, county, or city.

(2) Unless otherwise required under 19-18-403, a change in investment type is subject to a majority vote of the board of trustees of the association.

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Cite this article: FindLaw.com - Montana Title 19. Public Retirement Systems § 19-18-402. Investment of fund by trustees - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-19-public-retirement-systems/mt-st-19-18-402/

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