SECTION 1. Notwithstanding any general law or special law to the contrary, the treasurer of the Water Supply District of Acton may invest the funds, now in the custody of the treasurer and held as the W.R. Grace Settlement Fund account in accordance with the prudent investor rule and sections 3, 4, 5, 8, 9, and 10 of chapter 203C of the General Laws. The district shall develop investment policies that shall include an asset allocation policy for each account and shall select professional investment advisors to manage such funds.
SECTION 2. Section 55 of chapter 44 of the General Laws shall not apply to the Water Supply District of Acton’s account for the W.R. Grace Settlement Fund.
SECTION 3. This act shall take effect upon its passage.
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