Title 47, Chapter 22, Section 5
(a) The board shall be the trustee of the funds of the plan; may
invest and reinvest such funds; and may hold, purchase, sell,
assign, transfer, and dispose of any of the securities and
investments in which any of the funds created under this chapter
shall have been invested, as well as the proceeds of such
investments and any moneys belonging to such fund, all in such
manner as funds of the Employees' Retirement System of Georgia are
invested and reinvested.
(b) Except as otherwise provided for in this chapter, no member or
person employed by the board shall have a direct interest in the
gains or profits of any investment made by the board. No member or
employee of the board shall, directly or indirectly, for himself or
as an agent, in any manner use the funds of the plan except to make
such current and necessary payments as are authorized by the board;
nor shall any member or employee of the board become an endorser,
surety, or in any manner an obligor for moneys loaned or borrowed
from the board.
(c) The board shall be the custodian of the funds of the plan. All
payments from such funds shall be made by the board only upon
vouchers signed by two persons designated by the board.