502.701 - PUBLIC JOINT INVESTMENT TRUSTS.

        502.701  PUBLIC JOINT INVESTMENT TRUSTS.         1.  A joint investment trust organized pursuant to chapter 28E for      the purposes of joint investment of public funds is subject to the      jurisdiction and authority of the administrator, including all      requirements of this chapter, except the registration provisions of      sections 502.301 and 502.321I.         2.  The administrator may make examinations within or without the      state, of the business and records of each joint investment trust, at      the times and in the scope as the administrator determines.  The      administrator shall have the authority to contract for outside      professional services in the conduct of examinations.  The      examinations may be made without prior notice to the joint investment      trust or the trust's investment advisor.  The administrator may copy      all records the administrator feels are necessary to conduct the      examination.  The expense reasonably attributable to the examination      shall be paid by the joint investment trusts whose business is      examined.  For the purpose of avoiding unnecessary duplication of      examinations, the administrator may cooperate with other regulatory      authorities.  
         Section History: Recent Form
         92 Acts, ch 1156, § 41; 2005 Acts, ch 19, §124, 126