Securities held by an investment pool may be loaned if the securities are fully collateralized and the collateral is, for safekeeping, in the possession of a person who is independent of the borrowers. The collateral must meet institutional and prudent investor standards. All pool proceeds from securities lending must inure to the benefit of investment pool participants.
Structure Alaska Statutes
Chapter 23. Investment Pools for Public Entities
Sec. 37.23.010. Investment pool participation.
Sec. 37.23.020. Authorized investments.
Sec. 37.23.030. Collateralization.
Sec. 37.23.035. Securities lending.
Sec. 37.23.040. Portfolio restrictions.
Sec. 37.23.050. Investment management.
Sec. 37.23.060. Investment responsibilities.
Sec. 37.23.070. Reports; disclosure statement.