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”...  

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    STATE BOARD OF ADMINISTRATION

    RULE NOS.:RULE TITLES:
    19-3.016Executive Director
    19-3.0161Investment Responsibilities of the Executive Director
    19-3.099Plan
    PURPOSE AND EFFECT: Amendments are being made to add provisions to Rule 19-3.016, F.A.C., 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, F.A.C., 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, F.A.C., 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 AREA TO BE ADDRESSED: 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 IMPLEMENTED: 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.
    IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
    DATE AND TIME: Wednesday, March 6, 2013, 9:00 a.m. – 11:00 a.m.
    PLACE: Room 116 (Hermitage Conference Room), 1801 Hermitage Blvd., Tallahassee, FL 32308
    Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Tina Joanos, Agency Clerk, Office of the General Counsel, State Board of Administration, 1801 Hermitage Blvd., Tallahassee, FL 32308, (850)413-1197; tina.joanos@sbafla.com If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).
    THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Ruth A. Smith, Assistant General Counsel, Office of the General Counsel, State Board of Administration, 1801 Hermitage Blvd., Tallahassee, FL 32308, (850)413-1182, ruth.smith@sbafla.com
    THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS AVAILABLE AT NO CHARGE FROM THE CONTACT PERSON LISTED ABOVE.

Document Information

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.
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 ...
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.
Contact:
Ruth A. Smith, Assistant General Counsel, Office of the General Counsel, State Board of Administration, 1801 Hermitage Blvd., Tallahassee, FL 32308, (850)413-1182, ruth.smith@sbafla.com
Related Rules: (3)
19-3.016. Executive Director
19-3.0161. Investment Responsibilities of the Executive Director
19-3.099. Plan