Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
11A.09 STANDARD OF CARE.
In the discharge of their respective duties, the members of the state board, director, board
staff, and members of the council and any other person charged with the responsibility of
investing money pursuant to the standards set forth in sections 11A.01 to 11A.25 shall act in good
faith and shall exercise that degree of judgment and care, under circumstances then prevailing,
which persons of prudence, discretion, and intelligence exercise in the management of their own
affairs, not for speculation, but for investment, considering the probable safety of their capital as
well as the probable income to be derived therefrom. In addition, for the investment of pension
fund assets, the members and director of the state board and members of the Investment Advisory
Council shall act in accordance with chapter 356A.
History: 1980 c 607 art 14 s 7; 1989 c 319 art 8 s 5
In the discharge of their respective duties, the members of the state board, director, board
staff, and members of the council and any other person charged with the responsibility of
investing money pursuant to the standards set forth in sections 11A.01 to 11A.25 shall act in good
faith and shall exercise that degree of judgment and care, under circumstances then prevailing,
which persons of prudence, discretion, and intelligence exercise in the management of their own
affairs, not for speculation, but for investment, considering the probable safety of their capital as
well as the probable income to be derived therefrom. In addition, for the investment of pension
fund assets, the members and director of the state board and members of the Investment Advisory
Council shall act in accordance with chapter 356A.
History: 1980 c 607 art 14 s 7; 1989 c 319 art 8 s 5
Official Publication of the State of Minnesota
Revisor of Statutes