Allows the Governor to remove the state investment officer without cause.
Nebraska LB885 amends the state investment officer's removal process, allowing the Governor to remove the officer without cause. Previously, removal required cause. The bill also repeals the original section 72-1240, Reissue Revised Statutes of Nebraska, and replaces it with a new provision. The state investment officer must be well-qualified by training and have at least five years of experience in managing investment portfolios.
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