Bill Text: MI HB5293 | 2009-2010 | 95th Legislature | Introduced

---

Bill Title: Public employees and officers; ethics; training requirements for pension fund trustees; establish. Amends 1965 PA 314 (MCL 38.1132 - 38.1140m) by adding sec. 13e.

Spectrum: Slight Partisan Bill (Republican 2-1)

Status: (Introduced - Dead) 2009-09-09 - Printed Bill Filed 09/03/2009 [HB5293 Detail]

Download: Michigan-2009-HB5293-Introduced.html

---

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HOUSE BILL No. 5293

 

September 2, 2009, Introduced by Reps. Knollenberg, Walsh and Geiss and referred to the Committee on Intergovernmental and Regional Affairs.

 

     A bill to amend 1965 PA 314, entitled

 

"Public employee retirement system investment act,"

 

(MCL 38.1132 to 38.1140m) by adding section 13e.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 13e. (1) A board member of a system shall, within 1 month

 

after assuming that position and at annual intervals after assuming

 

the position, participate in a training program that includes

 

instruction in both of the following:

 

     (a) Requirements of applicable investment laws.

 

     (b) Ethical requirements of fiduciaries under the common law

 

and this act.

 

     (2) The department of treasury shall either offer the training

 

program required under this section or review and certify the

 

program content of the training program provider.