C.R.S. Section 23-3.1-216
Investment of funds


(1)

Moneys of the authority held in the collegeinvest fund created in section 23-3.1-205.4 shall be invested as provided in section 23-3.1-205.4 (3). Other moneys of the authority may be invested in property or securities in which the state treasurer may legally invest moneys subject to his or her control. The authority may sell the securities and may deposit the securities in a trust bank within or without the state. Any moneys deposited in a banking institution or a depository authorized in section 24-75-603, C.R.S., shall be secured in such a manner and subject to the terms and conditions as the board may determine, with or without payment of any interest on the deposit, including, without limitation, time deposits evidenced by certificates of deposit.

(2)

The board may direct a corporate trustee that holds moneys of the authority pursuant to a trust indenture or other agreement between the trustee and the authority to invest or reinvest the moneys in any investments, other than those specified in subsection (1) of this section, if the board determines that, as of the date of the determination, the investment meets the standards for investments established in section 15-1-304, C.R.S.

(3)

In addition to the investments otherwise permitted in this part 2, the state treasurer may invest moneys in the prepaid expense trust fund in the following:

(a)

State and municipal bonds;

(b)

Corporate notes, bonds, and debentures, whether or not convertible, to the extent provided for in paragraph (d) of this subsection (3);

(c)

Participation agreements with life insurance companies;

(d)

Common or preferred stock; except that:

(I)

No investment of moneys in the prepaid expense trust fund in common or preferred stock, or both, of any corporation shall be of an amount that exceeds five percent of the market value of investable assets of the trust fund; except that, such amount may exceed five percent, for a period not to exceed sixty consecutive days;

(II)

The prepaid expense trust fund shall not acquire more than five percent of the outstanding stock or bonds of any single corporation; and

(III)

The aggregate amount of moneys of the prepaid expense trust fund invested in common or preferred stock, or in corporate bonds, notes, or debentures that are convertible into common or preferred stock, or in investment trust shares shall not exceed sixty percent of the market value of investable assets of the prepaid expense trust fund; except that such market value of investable assets may exceed sixty percent, by not more than five percent, for a period not to exceed sixty consecutive days;

(d.5)

Investments in the form of mutual funds; and

(e)

Any guaranteed investment contract, guaranteed interest contract, annuity contract, or funding agreement if the board determines by resolution that:

(I)

Such contract or agreement meets the standard for investments established in section 15-1-304, C.R.S.;

(II)

The income on such contract or agreement is at least comparable to the income then available on the other investments permitted in this section; and

(III)

Such contract or agreement will assist the authority in maintaining an actuarially sound trust fund.

Source: Section 23-3.1-216 — Investment of funds, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-23.­pdf (accessed Oct. 20, 2023).

23‑3.1‑101
Legislative declaration
23‑3.1‑102
Definitions
23‑3.1‑103
Division created - director - staff
23‑3.1‑103.5
Enterprise status of division
23‑3.1‑104
Duties and powers of division - rules
23‑3.1‑104.5
Additional powers of division
23‑3.1‑104.7
Restructuring plan - legislative declaration
23‑3.1‑106
Student loan program established
23‑3.1‑106.5
Special funds
23‑3.1‑107
Student loan guarantee fund - created
23‑3.1‑108
Age qualification
23‑3.1‑109
Subject to audit
23‑3.1‑110
Designation as sole state agency
23‑3.1‑111
Authority of division to enter into agreements to provide administrative and guarantee services
23‑3.1‑112
Authority and power of the division to guarantee, originate, service, make, and purchase consolidation loans and refinancing loans
23‑3.1‑201
Legislative declaration
23‑3.1‑202
Definitions
23‑3.1‑203
Authority - creation - membership - transfer of personnel
23‑3.1‑204
Organizational meeting - chairperson - conflict of interest
23‑3.1‑205
Meetings of board - quorum - expenses
23‑3.1‑205.3
Transfer of property
23‑3.1‑205.4
Collegeinvest fund - creation - control - use
23‑3.1‑205.5
Collegeinvest - enterprise status
23‑3.1‑205.7
Department of higher education - executive director - powers and duties
23‑3.1‑206
General powers and duties of the authority
23‑3.1‑206.5
Servicing of student obligations and institutional loans
23‑3.1‑206.7
Prepaid expense program
23‑3.1‑206.9
Colorado collegeinvest scholarship program - administration - fund - policies
23‑3.1‑207
Notes
23‑3.1‑208
Bonds
23‑3.1‑209
Negotiability of bonds
23‑3.1‑210
Security for bonds and notes
23‑3.1‑211
Personal liability
23‑3.1‑212
Purchase
23‑3.1‑213
Payment of bonds and advance payment contracts - limited liability of state
23‑3.1‑214
Exemption from taxation - securities law
23‑3.1‑215
Fees
23‑3.1‑216
Investment of funds
23‑3.1‑217
Proceeds as trust funds
23‑3.1‑217.5
Claims of creditors - exemption
23‑3.1‑218
Agreement of the state not to limit or alter rights of obligees
23‑3.1‑219
Enforcement of rights of bondholders
23‑3.1‑220
Bonds eligible for investment
23‑3.1‑221
Account of activities - receipts for expenditures - report - audit
23‑3.1‑222
Federal social security act
23‑3.1‑223
Powers of authority not restricted
23‑3.1‑224
Contract powers of state-supported institutions of higher education - nonliability of state
23‑3.1‑225
Confidentiality of records
23‑3.1‑226
Policies for promotion and disclosure of program information
23‑3.1‑301
Legislative declaration
23‑3.1‑302
Definitions
23‑3.1‑303
Department - purpose - powers - duties
23‑3.1‑304
Authority - purpose - powers - duties
23‑3.1‑305
Financial institutions - managers - purpose - selection - requirements - contracts
23‑3.1‑306
Accounts - contributions - withdrawals - penalties - statements
23‑3.1‑306.5
College kickstarter account program - funding - administration - financial literacy course - rules - legislative declaration - definitions
23‑3.1‑307
Limitations
23‑3.1‑307.1
Personal liability
23‑3.1‑307.3
Proceeds as trust funds
23‑3.1‑307.4
Claims of creditors - exemption
23‑3.1‑307.5
Confidentiality of records
23‑3.1‑307.9
Policies for promotion and disclosure of program information
23‑3.1‑308
Residency
23‑3.1‑309
Tax exemption
23‑3.1‑311
Achieving a better life experience (ABLE) savings program - establishment - authority - powers - duties
Green check means up to date. Up to date

Current through Fall 2024

§ 23-3.1-216’s source at colorado​.gov