12662688, 19-3.016 - Florida Administrative Rules, Law, Code, Register

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Notice: 12662688

Notice of Development of Rulemaking

Department:

STATE BOARD OF ADMINISTRATION

Chapter:

RULES AND REGULATIONS GOVERNING THE ORGANIZATION, MEETINGS, AND PROCEDURES OF THE STATE BOARD OF ADMINISTRATION

Overview

RULE:

19-3.016	Executive Director
19-3.0161	Investment Responsibilities of the Executive Director
19-3.099	Plan

PURPOSE:

Amendments are being made to add provisions to Rule 19-3.016 setting forth the authority of the Executive Director & CIO to bring suit, file claims or take any other legal actions or proceedings in the name of the State Board of Administration (“SBA”), and to manage, settle or resolve any claim or action brought against the SBA. Provisions also are added to provide that the Executive Director may execute, or delegate the authority to execute, final orders issued pursuant to Chapter 120, Florida Statutes.  Provisions also are added to provide that the Executive Director & CIO may to take whatever actions that will provide full transparency and accountability in the fulfillment of the SBA’s fiduciary duties.  Amendments are being made to Rule 19-3.0161 to make it clear, as required by law, that Investment Policy Statements must be submitted both to the Investment Advisory Council and the Board of Trustees of the SBA. Amendments are being made to Rule 19-3.099 to clarify that Final Orders are to be obtained from the Agency Clerk of the State Board of Administration, and that the charge for such orders is no more than cost.

SUBJECT:

To update information regarding the duties and responsibilities of the Executive Director & CIO of the State Board of Administration, to update information as to Investment Policy Statements; and to update and clarify information concerning Final Orders.

RULEMAKING AUTHORITY:

120.533(1)(j), 215.52, 215.62(5), 215.835, 215.84(5), 216.345(3), 218.412 FS.

LAW:

112.061, 215.44, 215.441, 215.45, 215.47, 215.475, 215.515, 215.52, 215.69, 215.84, 216.345, 218.409 FS.

PRINT PUBLISH DATE:

2/19/2013 Vol. 39/34

RELATED STATUTES
AND LAWS:

120.533(1)(j), 215.52, 215.62(5), 215.835, 215.84(5), 216.345(3), 218.412 FS., 112.061, 215.44, 215.441, 215.45, 215.47, 215.475, 215.515, 215.52, 215.69, 215.84, 216.345, 218.409 FS.

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://www.flrules.org/gateway/ruleno.asp?id=19-3.016&PDate=2/19/2013&Section=1

REFERENCE MATERIALS:

No reference(s).

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