Subject to the objective set forth in ORS § 293.721 and the standards set forth in ORS § 293.726, the Oregon Investment Council shall formulate policies for the investment and reinvestment of moneys in the investment funds and the acquisition, retention, management and disposition of investments of the investment funds. The council, from time to time, shall review those policies and make changes therein as it considers necessary or desirable. The council may formulate separate policies for any fund included in the investment funds. This section does not apply to the Oregon Growth Account, the Oregon Growth Fund, the Oregon Growth Board, the Oregon Innovation Fund or the Oregon Innovation Council. [1967 c.335 § 8; 1993 c.210 § 20; 1999 c.42 § 1; 1999 c.274 § 18; 2001 c.835 § 9; 2001 c.922 15a,15b; 2005 c.748 15,16; 2012 c.90 22,32; 2013 c.732 § 8; 2019 c.131 § 10]