Revised Code of Washington
Chapter 43.33A - State Investment Board.
43.33A.140 - Investments—Standard of investment and management.

RCW 43.33A.140
Investments—Standard of investment and management.

The state investment board shall invest and manage the assets entrusted to it with reasonable care, skill, prudence, and diligence under circumstances then prevailing which a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an activity of like character and purpose.
The board shall:
(1) Consider investments not in isolation, but in the context of the investment of the particular fund as a whole and as part of an overall investment strategy, which should incorporate risk and return objectives reasonably suited for that fund; and
(2) Diversify the investments of the particular fund unless, because of special circumstances, the board reasonably determines that the purposes of that fund are better served without diversifying. However, no corporate fixed-income issue or common stock holding may exceed three percent of the cost or six percent of the market value of the assets of that fund.

[ 1998 c 14 § 1; 1981 c 3 § 14.]
NOTES:

Effective dates—Severability—1981 c 3: See notes following RCW 43.33A.010.

Structure Revised Code of Washington

Revised Code of Washington

Title 43 - State Government—Executive

Chapter 43.33A - State Investment Board.

43.33A.010 - General powers and duties.

43.33A.020 - Board created—Membership—Terms—Vacancies—Removal.

43.33A.025 - Criminal history record checks for board staff finalist candidates.

43.33A.030 - Trusteeship of funds—Contracts—Delegation of powers and duties.

43.33A.035 - Delegation of authority—Investments or investment properties.

43.33A.040 - Quorum—Meetings—Chairperson—Vice chairperson.

43.33A.050 - Compensation of members—Travel expenses.

43.33A.060 - Employment restrictions.

43.33A.070 - Liability of members.

43.33A.080 - Investment of funds in farm, soil, water conservation loans and in Washington land bank.

43.33A.090 - Records.

43.33A.100 - Offices—Personnel—Officers—Compensation—Transfer of employees—Existing contracts and obligations.

43.33A.110 - Rules and regulations—Investment policies and procedures.

43.33A.120 - Examination of accounts, files, and other records.

43.33A.130 - Securities—State treasurer may cause same to be registered in the name of the nominee.

43.33A.135 - Investment policy—Investment options.

43.33A.140 - Investments—Standard of investment and management.

43.33A.150 - Reports of investment activities.

43.33A.160 - Funding of board—State investment board expense account.

43.33A.170 - Commingled trust funds—Participation of funds in investments of board.

43.33A.180 - Investment accounting—Transfer of functions and duties from state treasurer's office.

43.33A.190 - Self-directed investment—Board's duties (as amended by 2016 c 39).

43.33A.200 - Creation of entities for investment purposes—Liability—Tax status.

43.33A.210 - Assets not publicly traded—Treatment of rent and income—Management accounts—Application of this chapter and chapter 39.58 RCW.