Insurance company executive Elijah Norton is leading Katherine Haley in the bid to be the Republican nominee for treasurer in early election results Tuesday night.
The race has come down to claims of who is more qualified to manage the state's $32 billion in investments.
Norton cited his experience as founder of Veritas Global Protection, a company that sells extended warranties on vehicles. That role, he said, means he has to take the premiums received and find ways to invest them to be available to pay future claims.
Haley cites her experience as owner of Oak Rose Group, which she said advises organizations on investment and long-term strategic planning. "We maintain balance sheets,'' she said. "We have to make sure we balance our checkbook every day. We have to make sure we pay our bills.''
They disagree about the larger question of exactly how involved the elected treasurer should be in the day-to-day decisions of what to buy and sell, which generally are made by professional staffers. Plus, there are state laws which set limits, as well as oversight from the State Board of Investment.
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The more activist role sought by Norton has drawn criticism from Kimberly Yee, the current treasurer, who is not seeking reelection but instead is running for state schools chief. She said the treasurer should not be making those picks but instead hiring the best qualified managers.
Nick Mansour is running unopposed in the Democratic primary.
