352B.05 INVESTMENTS.
The State Board of Investment may invest and reinvest any portions of the State Patrol
retirement fund not needed for immediate purposes. The executive director shall determine what
funds may be invested. Money may be invested in securities authorized as legal investments for
the Minnesota State Retirement System. The state board may sell, convey, and exchange securities
and invest and reinvest the funds when it deems it desirable to do so. The state board shall sell
securities upon request from the executive director when the executive director determines funds
are needed for its purposes. Provisions regarding accounting procedures and restrictions and
conditions for the purchase and sale of securities for the Minnesota State Retirement System
apply to the accounting, purchase, and sale of securities for the State Patrol retirement fund.
History: 1943 c 637 s 4; 1961 c 380 s 4; 1965 c 305 s 3; 1973 c 178 s 5; 1978 c 562 s 2;
1981 c 37 s 2; 1981 c 224 s 274; 1983 c 128 s 22; 1987 c 229 art 7 s 1