As used in this part 7, unless the context otherwise requires: “Administrator” means the administrator of a local government investment pool trust fund created pursuant to section 24-75-703. “Board” or “board of trustees” means the board of trustees composed of members that are selected from among the treasurers or other local officials empowered to invest […]
In accordance with this part 7, it is lawful for any local government to pool any money in its treasury, which is not immediately required to be disbursed, with the same money in the treasury of any other local government and to invest such money in a local government investment pool trust fund in order […]
The governing body of each local government that desires to participate in a local government investment pool trust fund shall cooperate in drafting a uniform resolution to be adopted by a majority vote of the governing body of each participating local government. The resolution shall provide for, but need not be limited to, the following: […]
The investments made with local government investment pool trust fund moneys shall be limited to those instruments which all participating local governments may individually invest in by law. The trust fund shall not be used to circumvent such statutory limitations on the investment authority of participating local government entities. In order to assure compliance with […]
The board of trustees of any local government investment pool trust fund moneys authorized by this section shall invest in compliance with the requirements of this section and with that degree of judgment and care, under the circumstances then prevailing, which persons of prudence, discretion, and intelligence exercise in the management of their own affairs, […]
It is unlawful for any custodian of a local government investment pool trust fund to: Maintain the primary records of the assets of the trust fund anywhere but within the state of Colorado; Act as a trustee, administrator, or investment adviser of the trust fund, except that a financial institution, or any person employed by […]
An investment adviser, a broker-dealer, or a financial institution acting in an advisory capacity for a local government investment pool trust fund which contracts with the board of trustees of such trust fund shall be held to the standard of conduct set forth in section 24-75-705 with respect to those functions over which such investment […]
Every local government investment pool trust fund shall be administered by an administrator in this state appointed by the board of trustees of such pool. The administrator shall have such duties as may be prescribed by the securities commissioner by rule. It is unlawful for an administrator to: Act as a trustee or custodian of […]
This part 7 shall be administered and enforced by the securities commissioner pursuant to section 11-51-902, C.R.S. Source: L. 93: Entire part R&RE, p. 326, § 1, effective July 1.
