Arizona’s treasurer, Republican Kimberly Yee refused to acknowledge the authority of two top directors appointed by the Democrat governor, saying the legal status of the employees as agency bosses was unclear.
As a result of the treasurer’s move, Barbara Richardson of the Arizona Department of Insurance and Financial Institutions and Elizabeth Thorson of the Arizona Department of Administration were not allowed to participate in a State Board of Investment meeting, according to a statement Ms. Yee offered to AZ Central on Sept. 27.