Montana SB459 revises investment laws for the Montana Board of Investments, limiting investments in unaccountable securities and mandating divestment.
Montana SB459 revises laws related to investments made by the Montana Board of Investments. The bill mandates that the board ensure its investments meet constitutional principles of prudence, safety, and conservatism. It prohibits the board from investing in securities listed on exchanges in jurisdictions where federal oversight of public accounting firms is lacking. The board must consult with the Securities and Exchange Commission biennially to ensure compliance.
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