Kan. Admin. Regs. § 122-3-6 - Competitive selection of investment instruments

Current through Register Vol. 40, No. 39, September 30, 2021

Each security transaction, other than directly-issued instruments, securities in syndicate or specially bid or offered securities, shall be executed through a competitive process involving solicitation of bids or offers from qualified institutions as set out in K.A.R. 122-3-5. When purchasing a security, the offer which provides the highest anticipated current and future rate of return and which meets the investment objectives of the portfolio shall be accepted. When selling a security, the bid which generates the highest sales price shall be accepted.

Notes

Kan. Admin. Regs. § 122-3-6
Authorized by and implementing K.S.A. 1994 Supp. 75-4232; effective, T-122-7-27-95, July 27, 1995; effective Nov. 17, 1995.

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