Section 23 – Transition of investments previously authorized.

• (1) Any investment held by a public treasurer that as of June 30, 2015, is not in compliance with the provisions of this chapter is subject to review by the council.

• (2)
  • (a) No later than July 31, 2015, a public treasurer who holds an investment described in Subsection (1) shall provide the council a written report that outlines a reasonable plan to bring the investment into compliance.
  • (b) A plan described in Subsection (2)(a) is subject to annual review by the council.
  • (c) The council may authorize, with substantial justification, an exception to the five-year maturity requirements of Section 51-7-11.

Amended by Chapter 338, 2017 General Session