Kentucky House Bill 551 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on February 27 2018 - 25% progression, died in committee
Action: 2018-03-01 - to State Government (H)
Pending: House State Government Committee
Text: Latest bill text (Draft #1) [PDF]

Amend KRS 21.540, 61.650, and 161.430 to require the state-administered retirement systems to follow the state Model Procurement Code when contracting for investment management services; amend KRS 61.645 to grant the Attorney General concurrent jurisdiction to investigate and prosecute violations of the ethical and fiduciary duties of trustees and investment managers for the Kentucky Retirement Systems; amend KRS 161.250 to grant the Attorney General concurrent jurisdiction to investigate and prosecute violations of the ethical and fiduciary duties of trustees and investment managers for the Teachers' Retirement System; amend KRS 61.990 and 161.990 to provide that a knowing violation of the ethical and fiduciary duties of trustees and investment managers for the Kentucky Retirement Systems and the Teachers' Retirement System shall be a Class D felony.

AN ACT relating to the fiduciary duties of the trustees and investment managers for the state-administered retirement systems.

Rep. Jim Wayne [D]

Rep. Rocky Adkins [D]

Rep. Jody Richards [D]

Date	Chamber	Action
2018-03-01	House	to State Government (H)
2018-02-27	House	introduced in House

Type	Source
Summary	http://www.lrc.ky.gov/record/18RS/HB551.htm
Text	http://www.lrc.ky.gov/recorddocuments/bill/18RS/HB551/bill.pdf