Current through Register No. 40, October 3, 2024
(a) No trustee, member of the investment
committee, or staff employee shall:
(1) Use
confidential information regarding the investments of the NHRS in a manner not
exclusively in the interest of the NHRS and its members and
beneficiaries;
(2) Buy or sell a
security or other investment if the trustee, member of the investment
committee, or staff employee knows that the NHRS is, or anticipates, buying,
selling, or trading such security or other investment; or
(3) Accept offers to buy, sell, or trade in
any security or other investment that the NHRS holds or intends to purchase on
terms more favorable than those offered to similarly situated investors
unrelated to the NHRS.
(b) No trustee, member of the investment
committee, or staff employee shall:
(1)
Represent any individual or outside service provider in any action or
proceeding before the NHRS or any individual or outside service provider in any
action or proceeding involving an interest of the NHRS except as a duly
authorized representative or agent of the NHRS; or
(2) For 12 months after such trustee, member
of the investment committee, or staff employee has completed his or her service
with the NHRS, represent any individual or outside service provider, in any
fashion, before any public agency, with respect to a matter in which the
trustee, member of the investment committee, or staff employee personally
participated while serving with the NHRS.
(c) No trustee, member of the investment
committee, or staff employee shall:
(1) Use
his or her position or employment with the NHRS, or use NHRS facilities,
equipment or supplies, for any reason other than to advance the interests of
the NHRS, its members and beneficiaries;
(2) Solicit, accept or agree to accept for
themselves or for conferment to others any direct or indirect benefit, gratuity
or emolument in connection with a decision, opinion, recommendation,
transaction, vote or other action by a trustee, member of the investment
committee, staff employee, or other agent or representative of the
NHRS;
(3) Accept an extension of
credit from an outside service provider, except and unless:
a.Such outside service provider extends
credit to the general public in the ordinary course of its business;
and
b.The terms of the extension of
credit are no better than the terms normally offered to similarly situated
borrowers unrelated to the NHRS;
(4) Solicit or accept honoraria unless the
honorarium is paid in recognition of a demonstrable business, professional, or
esthetic interest of the trustee, member of the investment committee, or staff
employee that exists apart from his or her role with respect to the NHRS and
the honorarium is not paid by an outside service provider or affiliate
thereof;
(5) Use the name of the
NHRS or the NHRS's logo in a manner that suggests impropriety, favoritism, or
bias by the board of trustees, the investment committee, or the NHRS;
(6) Exercise his or her discretionary
authority to appoint, hire, or advance NHRS employees or outside service
providers, whether such authority is granted by statute or delegated by the
board of trustees, the investment committee, or by the executive director of
the NHRS, in favor of an affiliate, unless fully disclosed to and approved by
the board of trustees or the investment committee; or
(7) In his or her personal capacity, enter
into employment with, representation of, or an agreement with any person who
is, or has been within the preceding 12 month period, an outside service
provider, staff employee, member of the investment committee, or trustee of the
NHRS, unless fully disclosed to the board of trustees or the investment
committee.
(d) No
trustee, member of the investment committee, or staff employee shall accept
gifts, entertainment or other gratuities from current or potential outside
service providers, or their agents, representatives, or solicitors that, when
aggregating all gifts, entertainment or other gratuities from all current or
potential outside service providers, have a value of more than $250 per
calendar year. Gifts, entertainment, and gratuities received by affiliates of a
trustee, member of the investment committee, or staff employee shall be deemed
as being received by the trustee, member of the investment committee, or staff
employee himself or herself. Meals or entertainment provided to a trustee,
member of the investment committee, or staff employee at a group activity open
to all attendees of a conference, seminar or training shall not count toward
the aggregate $250 limit, provided such meals or entertainment were provided to
all, or substantially all, of the attendees.
(e) The foregoing prohibition in Ret
401.04(d) shall not apply to any gifts or entertainment received by a trustee,
member of the investment committee, or staff employee from a relative of that
trustee, member of the investment committee, or staff employee if:
(1) Such gifts and entertainment did not
arise from or in connection with the position of the trustees, member of the
investment committee, or staff employee with respect to the NHRS; and
(2) The nature and extent of the gifts and
entertainment are disclosed to the board of trustees.
(f) No trustee, member of the investment
committee, or staff employee shall accept the benefit of third party payments
for travel or lodging by current or potential outside service
providers.
(g) No trustee, member
of the investment committee, or staff employee shall disclose confidential
information except to the extent:
(1) Required
by law, including disclosures made of governmental records pursuant to the
requirements of RSA 91-A;
(2)
Necessary or advisable for the provision of services to the NHRS; or
(3) Permitted by the board of trustees or the
investment committee.
#7478, eff 4-10-01; ss by #9415, INTERIM, eff 4-5-09,
EXPIRED: 10-2-09
New. #9595, eff
11-11-09
