CO Code § 22-41-104 (2021)
2021 Colorado Code|Title 22 - Education|Article 41 - Public School Fund|§ 22-41-104. Lawful Investments

  The state treasurer, as directed by the public school fund investment board, may invest and reinvest moneys accrued or accruing to the public school fund in the types of deposits and investments authorized in sections 24-36-109, 24-36-112, and 24-36-113, C.R.S., and bonds issued by school districts. The moneys may also be invested in stocks and other financial assets as specified in the public school fund investment board investment policy established as required in section 22-41-102.5 (4)(b); except that investment includes only mutual funds, index funds, and any other instrument that is not a direct investment in a corporation.    The state treasurer has authority, to be exercised at the state treasurer's discretion, to effect exchanges or sales whenever such exchanges or sales will not result in an aggregate loss of principal to the public school fund. An aggregate loss of principal to the public school fund occurs only when an exchange or sale that resulted in an initial loss of principal is not offset by a gain on an exchange or sale in the fund within twelve months.    (Deleted by amendment,L. 97, p. 375, § 6, effective August 6, 1997.)     History. Source: L. 73: R&RE, p. 1241, § 1. C.R.S. 1963: § 123-4-4. L. 77: (2) amended and (3) added, p. 1055, § 2, effective July 15. L. 78: (2) amended, p. 264, § 56, effective May 23, 1979. L. 81: (1)(a) amended, p. 1069, § 1, effective May 21. L. 88: (1)(f) and (1)(g) added, p. 950, § 2, effective March 24. L. 92: (1)(f) amended and (1)(h) to (1)(j) added, p. 1112, § 2, effective July 1. L. 97: IP (1) amended and (1)(c.3) added, p. 852, § 39, effective May 21; entire section amended, p. 375, § 6, effective August 6. L. 2002: (2) amended, p. 1793, § 56, effective June 7. L. 2013: (2) amended,(HB 13-1205), ch. 141, p. 457, § 1, effective August 7. L. 2016: (1) amended,(SB 16-035), ch. 250, p. 1026, § 4, effective August 10. History. Source: L. 73: R&RE, p. 1241, § 1. C.R.S. 1963: § 123-4-4. L. 77: (2) amended and (3) added, p. 1055, § 2, effective July 15. L. 78: (2) amended, p. 264, § 56, effective May 23, 1979. L. 81: (1)(a) amended, p. 1069, § 1, effective May 21. L. 88: (1)(f) and (1)(g) added, p. 950, § 2, effective March 24. L. 92: (1)(f) amended and (1)(h) to (1)(j) added, p. 1112, § 2, effective July 1. L. 97: IP (1) amended and (1)(c.3) added, p. 852, § 39, effective May 21; entire section amended, p. 375, § 6, effective August 6. L. 2002: (2) amended, p. 1793, § 56, effective June 7. L. 2013: (2) amended,(HB 13-1205), ch. 141, p. 457, § 1, effective August 7. L. 2016: (1) amended,(SB 16-035), ch. 250, p. 1026, § 4, effective August 10.    Editor's note:   Amendments to subsection (1) by Senate Bill 97-206 and Senate Bill 97-150 were harmonized.   Cross references:    For provisions for legal investments for governmental units, see § 24-75-601.1.    For the legislative declaration in SB 16-035, see section 1 of chapter 250, Session Laws of Colorado 2016.     ANNOTATION   Annotator's note. Cases relevant to § 22-41-104 decided prior to its earliest source, § 123-4-1, C.R.S. 1963, have been included in the annotations to this section. Annotator's note. Cases relevant to § 22-41-104 decided prior to its earliest source, § 123-4-1, C.R.S. 1963, have been included in the annotations to this section.   For previously permitted investments in loans on cultivated farmlands or ranches, see People ex rel. Miller v. Higgins, 69 Colo. 79 , 168 P. 740 (1917).   For previous direction of investments by board of land commissioners, see Denver & R. G. W. R. R. v. Town of Castle Rock, 99 Colo. 340 , 62 P.2d 1164 (1936).