GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2009

S                                                                                                                                                     1

SENATE BILL 632*

Short Title:        Treasurer's Governance & Transparency Act.		(Public)
Sponsors:	Senators Nesbitt;  Atwater, Berger of Franklin, Clodfelter, Kinnaird, McKissick, and Snow.
Referred to:	Finance.

March 17, 2009

A BILL TO BE ENTITLED

AN ACT to enact the Treasurer's Governance and Transparency Act of 2009.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 147‑69.2(b1) reads as rewritten:

"(b1)    With respect to investments authorized by subsections (b)(8) and (b)(9) of this section, the State Treasurer shall appoint an Investment Advisory Committee, which shall consist of five seven members: the State Treasurer, who shall be chairman ex officio; two members selected from among the members of the boards of trustees of the Retirement Systems; and two four members selected from the general public. The two four public members must have experience in areas relevant to the administration of a large, diversified investment program, including but not limited to, one or more of the following areas: investment management, real estate investment trusts, real estate development, venture capital investment, or absolute return strategies.investment management, securities law, real estate development, or absolute return strategies. The State Treasurer shall also appoint a Secretary of the Investment Advisory Committee who need not be a member of the committee. Members of the committee shall receive for their services the same per diem and allowances granted to members of the State boards and commissions generally. The committee shall have advisory powers only and membership shall not be deemed a public office within the meaning of Article VI, Section 9 of the Constitution of North Carolina or G.S. 128‑1.1."

SECTION 2.  This act is effective when it becomes law.