287.912. Investment policy, board to determine--administrator to make investments, how.
Investment policy, board to determine--administrator to makeinvestments, how.
287.912. The board shall formulate and adopt an investmentpolicy and supervise the investment activities of the company.The administrator may invest and reinvest the surplus or reservesof the company subject to the limitations imposed on domesticinsurance companies by state law. The company may retain anindependent investment counsel. The board shall periodicallyreview and appraise the investment strategy being followed andthe effectiveness of such services. Any investment counselretained or hired shall periodically report to the board oninvestment results and related matters.
(L. 1993 S.B. 251 § 7)