Sec. 06.65.040. Additional department powers.
The department may (1) set fees the department considers necessary or desirable for program transactions and services; and (2) develop marketing plans and materials to promote the benefits of the program that are available to contributors under the program and to beneficiaries under the program.
Sec. 06.65.050. Contracting authority; procurement exemption.
(a) The department may contract with a person to advise and assist in the implementation and operation of the program. (b) The department may contract with a person to provide services for the program. (c) The department may enter into a contract with other states to obtain or provide the services for implementing the program. […]
Sec. 06.65.060. Investment oversight.
The department shall (1) oversee and approve the selection of investment managers and advisors for the program; (2) oversee all aspects of the program’s investments and investment performance and decisions regarding the investment of program assets; and (3) oversee all investment disclosure documents and regulatory filings related to program investments.
Sec. 06.65.070. Financial contractor obligations.
In addition to any other obligations imposed by the contract with the department, if the department enters into a contract with a person to provide program accounts, the financial contractor shall (1) provide program accounts that comply with the federal authorizing law; (2) take the action necessary to keep the program in compliance with the […]
Sec. 06.65.080. Additional audits.
In addition to the annual audit required by AS 06.65.020(a)(5), the department may require a financial contractor to have an audit conducted of the financial contractor’s operations and financial position when the department is concerned about the financial position, the record-keeping practices, or the status of the program accounts of the financial contractor.
Sec. 06.65.090. Contract termination; nonrenewal.
The department may terminate or fail to renew a financial contract. If the department terminates or does not renew a contract with a financial contractor, the department shall take custody of the program accounts held by the financial contractor and transfer the program accounts to another financial contractor as soon as possible and into program […]