Section 8-B415. SALE OF SECURITIES

 

415.1The Treasurer of the Board, with the approval of the Board, may sell, assign, request payment, and re-issue securities in accordance with the provisions of this section.

 

415.2The provisions of this section shall apply to securities held by the Board in any fiduciary capacity whatsoever, including the following:

 

(a)Executor or administrator;

 

(b)Guardian or trustee; or

 

(c)As attorney for, or other representative of, the owners of the securities.

 

415.3The provisions of this section shall apply to the following types of securities:

 

(a)Any and all United States securities of any description registered on the books of the Treasury Department; or

 

(b)Registered securities with respect to which the Treasury Department acts as the transfer agency.

 

415.4The Treasurer, with the approval of the Board, may receive payment for any matured security and may reinvest the principal or the sum total in a like or similar security.

 

415.5The Treasurer shall report all securities transactions to the Board.