The board shall employ one (1) or more qualified investment managers, who shall invest and reinvest the assets of the fund. The qualified investment managers may make any investments which are allowed, at the time of making the investment, to fiduciaries in this state, except that the board may at its discretion authorize the qualified investment managers to purchase common stocks in corporations that do not have a record of paying dividends to their stockholders. Qualified investment managers operating pursuant to the provisions of KRS 95.895 to 95.945 shall not be required to seek District Court approval of investments authorized by KRS 386.020(h) and (i). The board may grant the qualified investment managers authority to make timely investments. In investing and reinvesting moneys and in acquiring, managing and disposing of investments, the qualified investment managers shall discharge their duties with respect to the fund solely in the interest of the participants and their beneficiaries and:
KRS 95.915
Created 1980 Ky. Acts ch. 307, sec. 6, effective7/15/1980.