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gross income for the previous year; or <br />(3) the investment officer has acquired from the <br />business organization during the previous year investments with a <br />book value of $2,500 or more for the personal account of the <br />investment officer. <br />(j) The governing body of an investing entity may specify in <br />its investment policy that any investment authorized by this <br />chapter is not suitable. <br />(k) A written copy of the investment policy shall be <br />presented to any person offering to engage in an investment <br />transaction with an investing entity or to an investment management <br />firm under contract with an investing entity to invest or manage <br />the entity's investment portfolio. For purposes of this <br />subsection, a business organization includes investment pools and <br />an investment management firm under contract with an investing <br />entity to invest or manage the entity's investment portfolio. <br />Nothing in this subsection relieves the investing entity of the <br />responsibility for monitoring the investments made by the investing <br />entity to determine that they are in compliance with the investment <br />policy. The qualified representative of the business organization <br />offering to engage in an investment transaction with an investing <br />entity shall execute a written instrument in a form acceptable to <br />the investing entity and the business organization substantially to <br />the effect that the business organization has: <br />Page -11 - <br />