KANSAS STATUTES AND CODES

72-17,125. Same; investment of fund with balance greater than $50,000; prudent investor rule; certain investments authorized for funds with balance less than $50,000.

72-17,125

Chapter 72.--SCHOOLS Article 17.--SUPPLEMENTAL RETIREMENT SYSTEMS

72-17,125. Same;investment of fund withbalance greater than $50,000; prudent investor rule; certaininvestments authorized for funds with balance less than $50,000.(a) The board of education of any school district to which K.S.A. 72-1727,72-1760, 72-1781, 72-1789, 72-17,100, 72-17,108 or 72-17,121, andamendments thereto, apply, and the retirement fund of which has a balancegreater than $50,000, may invest and reinvest moneys in the retirement fundof the school district and to acquire, retain, manage, including theexercise of any voting rights, and dispose of investments of such fund inaccordance with this subsection and K.S.A. 72-17,126 to 72-17,131,inclusive, and amendments thereto. The provisions and standards provided inK.S.A. 2001 Supp. 58-24a02 and amendments thereto shallapply in investing orreinvesting moneys insuch fund.

(b) The board of education of any school district to which K.S.A.72-1727, 72-1760, 72-1781, 72-1789, 72-17,100, 72-17,108 or 72-17,121, andamendments thereto, apply, and the retirement fund of which has a balanceof $50,000 or less, may invest and reinvest moneys in such fund only indirect obligations of, or obligations the principal of which and intereston which are unconditionally guaranteed by, the United States of America,or in time deposit open accounts in any bank located in Kansas, except thatthe amount so invested in a bank shall be secured in the manner prescribedby subsections (a) to (e), inclusive, of K.S.A. 75-4218, and amendmentsthereto.

History: L. 1973, ch. 282, § 8;L. 1989, ch. 48, § 90;L. 1993, ch. 238, § 3;L. 2001, ch. 75, § 11; July 1.