OAG 72-783 is cited to support the assertion that the board of trustees of a pension fund cannot hire an investment counselor without legislative authority. This previous opinion is used to affirm the principle that the board cannot delegate their management and investment duties to an investment counselor, even just for advice, without specific legislative provision.
OAG 72-783 was Followed by OAG 77-85
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Disclaimer:
The Sunshine Law Library is not exhaustive and may contain errors from source documents or the import process. Nothing on this website should be taken as legal advice. It is always best to consult with primary sources and appropriate counsel before taking any action.
The Sunshine Law Library is not exhaustive and may contain errors from source documents or the import process. Nothing on this website should be taken as legal advice. It is always best to consult with primary sources and appropriate counsel before taking any action.