Sec. 3-123cc. Investment of amounts on deposit in Connecticut Home Care Trust Fund.
Sec. 3-123cc. Investment of amounts on deposit in Connecticut Home Care
Trust Fund. The Comptroller shall invest the amounts on deposit in the trust in a manner
reasonable and appropriate to achieve the objectives of the trust, exercising the discretion
and care of a prudent person in similar circumstances with similar objectives. The Comptroller shall give due consideration to rate of return, risk, term or maturity, diversification
of the total portfolio within the trust, liquidity, the projected disbursements and expenditures, and the expected payments, deposits, contributions and gifts to be received. The
Comptroller shall not require the trust to invest directly in obligations of the state or
any political subdivision of the state or in any investment or other fund administered
by the Comptroller. The assets of the trust shall be continuously invested and reinvested
in a manner consistent with the objectives of the trust until disbursed for qualified home
care expenses, expended on expenses incurred by the operations of the trust, or refunded
to the depositor or designated beneficiary on the conditions provided in the participation
agreement.
(P.A. 07-130, S. 3.)