2003 Minnesota Statutes

     353.06 State Board of Investment to invest funds. 

    The executive director shall from time to time certify to 
 the state board of investment for investment such portions of 
 the retirement fund as in its judgment may not be required for 
 immediate use.  Assets from the public employees retirement fund 
 shall be transferred to the Minnesota postretirement investment 
 fund as provided in section 11A.18.  The state Board of 
 Investment shall thereupon invest and reinvest the sum so 
 certified, or transferred, in such securities as are duly 
 authorized as legal investments for state employees retirement 
 fund and shall have authority to sell, convey, and exchange such 
 securities and invest and reinvest the securities when it deems 
 it desirable to do so and shall sell securities upon request of 
 the board of trustees when such funds are needed for its 
 purposes.  All of the provisions regarding accounting procedures 
 and restrictions and conditions for the purchase and sale of 
 securities for the state employees retirement fund shall apply 
 to the accounting, purchase and sale of securities for the 
 public employees retirement fund. 

    HIST: (254-28) 1931 c 307 s 6; 1959 c 650 s 58; 1961 c 380 s 
 5; 1965 c 305 s 5; 1973 c 753 s 21; 1975 c 102 s 6; 1980 c 607 
 art 14 s 45 subd 2; s 46