86.313. Trustees and employees not to have direct interest in investments.
Trustees and employees not to have direct interest in investments.
86.313. Except as herein provided, no trustee and no employee of theboard shall have any direct interest in the gains or profits of anyinvestment made by the board of trustees, nor receive any pay or emolumentfor any services rendered as a trustee or employee. No trustee or employeeof the board of trustees shall directly or indirectly in any manner use theassets of the retirement system except to make such current and necessarypayments as are authorized by the board of trustees, nor shall any trusteeor employee of the board become an endorser or surety or become in anymanner an obligor for moneys loaned by or borrowed from the board oftrustees.
(L. 1957 p. 256 § 34, A.L. 2000 H.B. 1808)Effective 7-1-00