The commissioner of revenue is the treasurer of the fund and has the power and duty to
(1) act as official custodian of the cash and investments belonging to the fund by securing adequate and safe custodial facilities;
(2) receive all items of cash and investments belonging to the fund;
(3) collect the principal and income from investments owned or acquired by the fund and deposit the amounts in separate principal and income accounts for the fund;
(4) invest and reinvest the assets of the fund as provided in this section and as provided for the investment of funds under AS 37.14.170;
(5) exercise the powers of an owner with respect to the assets of the fund;
(6) maintain accounting records of the fund in accordance with investment accounting principles and with distinction between the principal and income accounts of the fund;
(7) engage an independent firm of certified public accountants to annually audit the financial condition of the fund's investments and investment transactions;
(8) enter into and enforce contracts or agreements considered necessary for the investment purposes of the fund;
(9) report to the commission the condition and investment performance of the fund;
(10) do all acts, whether or not expressly authorized, that the commissioner of revenue considers necessary or proper in administering the assets of the fund.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.