(1) The State Investment Commission shall promulgate administrative regulations for the investment and reinvestment of state funds and the acquisition, retention, management, and disposition of investments. (2) The regulations shall specify: (a) The long and short term goals of any investment; (b) The specification of moneys to be invested; (c) The amount of funds which may be invested per instrument; (d) The qualifications of instruments; (e) The acceptable maturity of investments; (f) The investment procedure with respect to in-state and out-of-state depositories provided that funds available for investment shall be offered first to qualified Kentucky depositories consistent with the investment guidelines; and (g) The distribution method of funds among types of institutions.
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