AN ACT RELATIVE TO THE POST RETIREMENT LIABILITY FUND IN THE TOWN OF NEEDHAM.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same as follows:
SECTION 1. Section 1 of chapter 10 of the acts of 2002 is hereby amended by striking out, in lines 10 and 11, the words “in such securities as are legal for the investment of funds of savings banks under the laws of the commonwealth” and inserting in place thereof the following words:- with the care, skill, prudence, and diligence that a prudent person, acting in a like capacity and familiar with such matters, under the circumstances then prevailing, would use in the conduct of an enterprise of a like character and with like aims.
SECTION 2. This act shall take effect upon its passage.
Approved August 5, 2008