C.R.S. Section 23-41-103.8
Investment policy

  • fiduciary responsibility

(1)

If the board of trustees votes to invest Colorado school of mines assets pursuant to sections 23-41-103.6 and 23-41-103.7, then the board of trustees shall develop and annually review a written investment policy for Colorado school of mines, which policy shall include:

(a)

An acknowledgment by the board of trustees of the board’s fiduciary responsibility with respect to oversight of the investment policy of Colorado school of mines; and

(b)

The establishment of performance benchmarks for each investment manager hired by the board of trustees pursuant to sections 23-41-103.6 and 23-41-103.7.

(2)

If the board of trustees votes to invest moneys pursuant to sections 23-41-103.6 and 23-41-103.7, the board shall require annual financial statements to be submitted to the board of trustees, the state treasurer, the state auditor, and the joint budget committee of the general assembly. The financial statements must include, at a minimum, information concerning investment income, gains, and losses, if any, of Colorado school of mines. The financial statements must report the performance of investments on both a gross-of-fee and a net-of-fee basis.

(3)

If the board of trustees votes to invest moneys pursuant to sections 23-41-103.6 and 23-41-103.7, the board shall ensure that, at all times, liquid investment assets remain at a level sufficient to pay for all budgeted, outstanding operational obligations and expenses occurring within the current fiscal year.

(4)

Colorado school of mines shall not request from the general assembly any general fund appropriations to replace any losses incurred due to investment activities conducted by the board of trustees pursuant to sections 23-41-103.6 and 23-41-103.7.

Source: Section 23-41-103.8 — Investment policy - fiduciary responsibility, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-23.­pdf (accessed Oct. 20, 2023).

23‑41‑101
Location - powers 23‑41‑102
Board of trustees - term 23‑41‑103
Oath or affirmation of trustees 23‑41‑103.5
The Colorado school of mines fund - creation - control - use 23‑41‑103.6
Investments in consolidated funds 23‑41‑103.7
Corporate stock in name of nominee authorized 23‑41‑103.8
Investment policy - fiduciary responsibility 23‑41‑104
Control - management 23‑41‑104.6
Performance contract - authorization - operations 23‑41‑104.7
Funding 23‑41‑105
School established - role and mission 23‑41‑106
May procure machinery 23‑41‑107
Tuition - school open to all 23‑41‑108
Officers - meeting of board 23‑41‑109
Vacancies 23‑41‑110
Treasurer’s bond 23‑41‑111
Assays and analyses 23‑41‑112
Transfer of property 23‑41‑113
Fund used exclusively for school 23‑41‑114
Colorado energy research institute - creation 23‑41‑116
Rents or charges for buildings and facilities for research 23‑41‑117
Research building revolving fund - appropriation of fund 23‑41‑118
Anticipation warrants 23‑41‑119
Purchase of anticipation warrants 23‑41‑120
Warrants as security - when 23‑41‑121
Tax exemption 23‑41‑122
Borrowing funds 23‑41‑123
Moneys from Colorado school of mines lands 23‑41‑201
Transfer of geological survey - memorandum of understanding - report 23‑41‑202
Legislative declaration 23‑41‑203
Colorado geological survey - created - purpose 23‑41‑204
State geologist - appointment - qualifications 23‑41‑205
Objectives of survey - duties of state geologist 23‑41‑206
Employees 23‑41‑207
Fees - adjustments - geological survey cash fund - created 23‑41‑208
Reports concerning geologic information - definitions
Green check means up to date. Up to date

Current through Fall 2024

§ 23-41-103.8’s source at colorado​.gov