Subject to the objective set forth in ORS § 294.831 and the standards set forth in ORS § 294.835, the Oregon Investment Council shall formulate policies for the investment and reinvestment of moneys in the investment pool and the acquisition, retention, management and disposition of investments of the investment pool. 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 funds from any single public body included in the investment pool. [1973 c.748 § 9; 2007 c.783 § 122a]