Ala. Admin. Code r. 800-1-3-.08

Current through Register Vol. 43, No. 1, October 31, 2024

Section 800-1-3-.08 - Committees

(1) All committees shall be formally approved by the Board of Control.

(2) Investment Committee members shall serve for a two year term, and one member shall be elected each year at the regular spring meeting.

(3) An Evaluation Committee not affiliated with the Board of Control or the staff of the Teachers' Retirement System, which has the responsibility of reviewing the operations of the investment practices of the Board of Control and the staff's operation shall be established each biennium. Ad Hoc Evaluation Committee members shall meet one of the following criteria:

(a) Experience in management of portfolio of at least $100 million;

(b) Member of executive committee of one of the top 20 Wall Street firms in terms of capital assets and volume;

(c) Director or deputy director of State Teachers' or Employees' Retirement System.

Author: William T. Stephens, General Counsel, RSA.

Ala. Admin. Code r. 800-1-3-.08

Filed September 30, 1982; effective October 1, 1982.

Statutory Authority:Code of Ala. 1975, § 16-25-19(h).