Page:1959 North Dakota Session Laws.pdf/919

Rh trade and occupational licensing may not truly measure the ability of the applicant and at times the testing and grading procedures in regard to such examinations have been questioned, which criticism might be eliminated through the use of a central impartial licensing agency; and

WHEREAS, a number of states have established central licensing facilities in order to meet the objectives and problems set forth in this resolution;

Now, Therefore, Be It Resolved by the Senate of the State of North Dakota, the House of Representatives Concurring Therein:

That the legislative research committee is hereby authorized and directed to study the laws of the state of North Dakota and those of other states providing having a central licensing agency in order to determine the merits and feasibility of establishing a central licensing agency in the state of North Dakota for trades and occupations and to make its report and recommendations to the Thirty-seventh Legislative Assembly accompanied by such legislation as may be necessary to carry out its recommendations.

Filed March 6, 1959.

SENATE CONCURRENT RESOLUTION "W"

(Hernett and Meidinger)

L.R.C. STUDY OF INVESTMENT OF STATE FUNDS

A concurrent resolution directing the legislative research committee to study the investment of state funds.

WHEREAS, the state of North Dakota has a number of independent trust funds or "trust like" funds which are independently invested in accordance with the requirements of each fund; and

WHEREAS, there appears to be a lack of diversity in state investments, as indicated by the fact that well over half of the state investments are in obligations of the United States; and

WHEREAS, recent studies of the investment of state funds have shown the average interest yield on such funds to be only 2.1% in contrast with a yield of 2.7% in a majority of the states, which amounts to a difference in yield of over $450,000 based upon the $75,988,260 balances existing in such funds in the year 1956;

Now, Therefore, Be It Resolved 'by the Senate of the State of North Dakota, the House of Representatives Concurring Therein: