H-1766.1 _______________________________________________
SUBSTITUTE HOUSE BILL 1421
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State of Washington 56th Legislature 1999 Regular Session
By House Committee on Financial Institutions & Insurance (originally sponsored by Representatives Huff, H. Sommers, Hatfield, Benson and McIntire; by request of State Investment Board)
Read first time 02/15/1999.
AN ACT Relating to the state investment board; and amending RCW 43.33A.170.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. RCW 43.33A.170 and 1982 c 58 s 1 are each amended to read as follows:
((There
is established in the state treasury)) (1) The state investment
board ((commingled trust fund)) is authorized to establish commingled
trust funds in the state treasury for the implementation of specific investment
programs for any combination of funds under its jurisdiction. At the
discretion of the state investment board, the funds under the jurisdiction of
the board may participate in the investments made by the board through ((the))
state investment board commingled trust funds. The state investment
board may establish accounts within ((the)) any such commingled
trust fund as necessary for the implementation of specific investment
programs. The combining of moneys from funds located outside the state
treasury with moneys from funds located within the state treasury for
investment under this section shall not affect the nature, character, or
purpose of a participating fund.
(2) Prior to taking action on one or more funds under subsection (1) of this section, the board shall consult with appropriate stakeholders of any fund being commingled after the effective date of this act or changing the status of any fund that is currently commingled as of the effective date of this act. The board may take the action after determining there is general agreement by the appropriate stakeholders.
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