12B.10B  Written investment policies.

1.  Political subdivisions shall approve written investment policies which incorporate the guidelines specified in section 12B.10, sections 12B.10A through 12B.10C, and any other provisions deemed necessary to adequately safeguard invested public funds.

2.  The written investment policy required by section 12B.10 shall be delivered to all of the following:

a.  The governing body or officer of the public entity to which the policy applies.

b.  All depository institutions or fiduciaries for public funds of the public entity.

c.  The auditor of the public entity.

3.  The following entities are not subject to this section:

a.  The public safety peace officers' retirement system governed by chapter 97A.

b.  The Iowa public employees' retirement system governed by chapter 97B.

c.  The Iowa finance authority governed by chapter 16.

d.  The state board of regents governed by chapter 262.

e.  A pension and annuity retirement system governed by chapter 294.

f.  The statewide fire and police retirement system governed by chapter 411.

g.  The judicial retirement system governed by chapter 602, article 9.

h.  The deferred compensation plan established by the executive council pursuant to section 509A.12.

i.  The tobacco settlement authority governed by chapter 12E.

j.  Municipal utility retirement systems governed under chapter 412.

Section History: Recent form

  92 Acts, ch 1156, §18; 96 Acts, ch 1187, §77; 97 Acts, ch 185, §3; 2000 Acts, ch 1208, §22, 25; 2001 Acts, ch 102, §2

Internal References

  Referred to in § 12B.14, 28E.5, 331.303

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