General Assembly: 79 (2001 Regular GA) - Chapter 102 - Investments by municipal utility retirement systems


Published: 2001-05-02

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203 LAWS OF THE SEVENTY-NINTH G.A., 2001 SESSION CH.I02

2. The task force shall be composed of all of the following: a. Persons who represent the department of agriculture and land stewardship. One per-

son shall be the state veterinarian who shall serve as the chairperson of the committee. The secretary of agriculture may appoint up to two more persons if necessary who shall be knowledgeable regarding the control of diseases affecting cattle.

b. Persons representing the college of veterinary medicine at Iowa state university who shall be the dean of the college or the dean's designee, the head of serology for the veterinary diagnostic laboratory, the head of the department of veterinary diagnostic and production animal medicine, and the chair of the department of veterinary microbiology and preventive medicine.

c. A person who is a member or officer of the Iowa veterinary medical association who is appointed by the association.

d. Persons actively engaged in the cattle or dairy industry, including a person actively engaged in producing milk who is appointed by the Iowa dairy products association, a person who is actively engaged in producing dairy products who is appointed by the Iowa dairy products association, a person who is actively engaged in producing beef cattle who is appointed by the Iowa cattlemen's association, and a person actively engaged in marketing cattle who is appointed by the livestock marketing association.

3. The task force shall submit a report to the governor and general assembly by January 10,2002. The report shall contain its findings and any recommendations.

Approved May 2,2001

CHAPTER 102 INVESTMENTS BY MUNICIPAL UTILITY RETIREMENT SYSTEMS

S.F.323

AN ACT relating to the standard for investment of retirement funds by municipal utilities.

Be It Enacted by the General Assembly of the State of Iowa:

Section 1. Section 12B.l 0, subsection 6, Code 2001, is amended by adding the following new paragraph:

NEW PARAGRAPH. k. Investments by municipal utility retirement systems governed under chapter 412.

Sec. 2. Section 12B.I0B, subsection 3, Code 2001, is amended by adding the following new paragraph:

NEW PARAGRAPH. j. Municipal utility retirement systems governed under chapter 412.

Sec. 3. Section 12B.I0C, Code 2001, is amended by adding the following new subsec- tion:

NEW SUBSECTION. 9. Municipal utility retirement systems governed under chapter 412.

Sec. 4. Section 412.4, Code 2001, is amended to read as follows: 412.4 PAYMENTS AND INVESTMENTS. The council, board of waterworks trustees, or other board or commission, whichever is

authorized by law to manage and operate any such waterworks, or other municipally owned and operated public utility, shall have the right and power to contract with any legal reserve insurance company authorized to conduct its business in the state, or any bank located in

CH.I02 LAWS OF THE SEVENTY-NINTH G.A., 2001 SESSION 204

Iowa having trust powers for the investment of funds contributed to an annuity or pension system, for the payment of the pensions or annuities provided in such pension or annuity retirement system, and may pay the premiums or make the contribution of such contract out of the fund provided in section 412.2. Funds shall be invested in accordance with the investment policy for the retirement fund. as established by the governing body of the public utility. In establishing the investment policy. the council. board or commission shall be governed by the standards set forth in section 97B. 7. subsection 2. paragraph "b". However. permissible investments shall be limited to those investments authorized in section 12B.I0. subsection 5, and investments in diversified commingled investment funds holding only publicly traded securities and under the management of an investment advisor registered with the federal securities and exchange commission under the Investment Advisor Act of 1940. Funds contributed to a bank pursuant to such a contract shall be invested in the manner prescribed in section 633.123A or chapter 633, division XX, part 4, subpart C, and may be commingled with and invested as a part of a common or master fund managed for the benefit of more than one public utility.

Approved May 2, 2001

CHAPTER 103 STATE REGULATION OF EDUCATION PRACTITIONER RIGHTS,

RESPONSIBILITIES, PRACTICES, AND ETHICS S.F.336

AN ACT relating to the authority of the state board of educational examiners to develop a code of professional rights and responsibilities, practices, and ethics for practitioners.

Be It Enacted by the General Assembly of the State of Iowa:

Section l. Section 272.2, subsection 1, Code 2001, is amended to read as follows: 1. License practitioners, who do not hold or receive a license from another professional

licensing board, and professional development programs, except for programs developed and offered by practitioner preparation institutions or area education agencies and ap- proved by the state board of education. Licensing authority includes the authority to estab- lish criteria for the licenses, including but not limited to, issuance and renewal require- ments;~ creation of application and renewal forms;~ creation of licenses that authorize differ- ent instructional functions or specialties;~ development of a code of professional rights and responsibilities, praetiee practices, and ethics, which shall. among other things. address the failure of a practitioner to fulfill contractual obligations under section 279.13: and the au- thority to develop any other classifications, distinctions, and procedures which may be necessary to exercise licensing duties. A eo de of professioAal rights aAd respoAsibilities, praetiee, aAd ethies shall address but AOt be limited to the habitual failure of a praetitioAer to fulfill eOAtraetual obligatioAs uAder seetioA 279.13. In addressing the failure of a practition- er to fulfill contractual obligations. the board shall consider factors beyond the practitioner's control.

Approved May 2,2001