North Carolina General Statutes Chapter 147. State Officers § 147-69.2A. Investments;  special funds held by the State Treasurer

(a) Firm to Administer Venture Capital Multiplier Fund.--The Investment Authority may select a third-party professional investment management firm, subject to the rules and regulations of the U.S. Securities and Exchange Commission, to administer a special fund created to invest assets of the Escheats Fund and select investment opportunities appropriate for receiving allocations from the Venture Capital Multiplier Fund on the basis of potential return on investment and the risks attendant thereto.  The Investment Authority shall assign professional and clerical staff to assist in the oversight of the Venture Capital Multiplier Fund.  All costs for the third-party investment management firm and the professional and clerical staff shall be borne by the Venture Capital Multiplier Fund pursuant to G.S. 147-69.3(f).  The Investment Authority shall discharge its duties with respect to the Venture Capital Multiplier Fund as a fiduciary consistent with G.S. 147-70.6.

(b) Organization and Reporting [Investment Policy].--The Investment Authority shall develop and adopt an investment policy statement for the Venture Capital Multiplier Fund.

(b1) Conflict of Interest Policy.--The Investment Authority shall adopt a policy to prevent conflicts of interest.  This policy shall include a provision prohibiting all of the following individuals from providing services for compensation to any entity in which an investment from the Venture Capital Multiplier Fund was made within two years after the end of that individual's service to the Fund:

(c) Types of Investments.--Assets of the Venture Capital Multiplier Fund may be invested in those types of investments authorized for the Retirement Systems by G.S. 147-69.2(b).

(d) Report on Escheat Fund Financial Status.--The State Treasurer, in coordination with the Investment Authority, shall conduct an assessment and projection of the financial status of the Escheat Fund.  A third-party professional consultant may be engaged to conduct the required assessment.  The associated costs for the services may be directly charged to the Escheat Fund.  No later than December 31 of each year, the State Treasurer shall communicate the assessment in an annual report to the Governor, the Speaker of the House of Representatives, the President Pro Tempore of the Senate, and the chairs of the respective appropriations and appropriate substantive committees of each chamber.  The annual report shall include all of the following: