Notwithstanding any other provision of this part 5, moneys of old hire pension plans that are not affiliated with the fire and police pension association under section 31-31-701 may be managed and invested by the trustees of such plans pursuant to the standard and other provisions for trustees set forth in the "Colorado Uniform Prudent Investor Act", article 1.1 of title 15, C.R.S. Such investments shall be audited at least biennially.
Source: L. 96: Entire article added with relocations, p. 879, § 1, effective May 23. L. 97: Entire section amended, p. 10, § 1, effective March 13. L. 2004: Entire section amended, p. 1203, § 73, effective August 4.
Editor's note: This section was formerly numbered as § 31-30-1012 (8)(a).