FL S1182

Authorizes the State Board of Administration to invest governmental entities' assets in the Local Government Surplus Funds Trust Fund without requiring a trust agreement, only enrollment materials.

Exempts investments made under trust agreements from standard investment restrictions in section 215.47, subjecting them only to restrictions contained in the specific trust agreement.

Reduces the Investment Advisory Council membership from nine back to six members effective July 1, 2011, by not refilling positions as terms expire.

Clarifies that investment advisers and managers must disclose actual or potential conflicts of interest and refrain from personal investment transactions with the same broker-dealer employees conducting board business.

Corrects cross-references in conflict of interest disclosure requirements for investment advisers and managers, changing the statutory citation from section 215.44(2)(c) to 215.44(2)(b).