Section 37.10.070. Investment of residual money.

   (a) The commissioner shall invest, as set out in AS 37.10.071, the money in the state treasury above an amount sufficient to meet immediate expenditure needs. In managing the invested assets, the commissioner shall
        (1) consider the status of the assets and liabilities on both a current and a probable future basis;
        (2) determine the appropriate investment objectives;
        (3) establish investment policies to achieve the objectives; and
        (4) act only in regard to the best financial interests of the state.
   (b) The commissioner may invest on the basis of probable total rate of return without regard to the distinction between principal and income and without regard to the generation of income.
   (c) In this section, "commissioner" means the commissioner of revenue.

Authorities

26.27.290;36.30.850;37.05.540;37.10.071;37.10.075;37.15.245;37.15.260;37.15.565;37.15.770;37.15.905;37.16.040;43.23.015;43.23.045;44.83.386;44.85.270;46.11.050

Notes

References

15 AAC 23.243
AS 26.27.290 Reserve fund.
AS 36.30.850 Application of this chapter.
AS 37.05.540 Budget reserve fund; appropriation limit.
AS 37.10.071 Investment powers and duties.
AS 37.10.075 Deposit of state funds.
AS 37.15.245 Toll bridge revenue bond redemption fund.
AS 37.15.260 Bond reserve fund.
AS 37.15.565 Bond redemption funds.
AS 37.15.770 Bond redemption fund established.
AS 37.15.905 Bond redemption fund.
AS 37.16.040 Reserve fund.
AS 43.23.015 Application and proof of eligibility.
AS 43.23.045 Dividend fund.
AS 44.83.386 Investment of fund.
AS 44.85.270 Reserve fund.
AS 46.11.050 Financing of energy efficient homes and buildings.

History

(Sec. 7-1-11 ACLA 1949; am Sec. 1 ch 140 SLA 1953; am Sec. 1 ch 206 SLA 1970; am Sec. 1, 2 ch 94 SLA 1971; am Sec. 1 ch 4 SLA 1980; am Sec. 6 ch 122 SLA 1980; am Sec. 19 ch 141 SLA 1988)