Viewing an earlier, undated versionView current - (A) All assets of a retirement system are held in trust. The trustee has the exclusive authority, subject to this chapter and Section 9-1-1310, to invest and manage those assets.
- (B) If the retirement system invests in a security issued by an investment company registered under the Investment Company Act of 1940 (15 U.S.C. Section 80a-1, et seq.), the assets of the system include the security, but not assets of the investment company.