§2.2-4512. Investment of funds by State Treasurer in obligations of foreign sovereign governments


Published: 2015

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§ 2.2-4512. Investment of funds by State Treasurer in obligations of foreign sovereign governments.

Notwithstanding any provision of law to the contrary, the State Treasurer may invest unexpended or excess moneys in any fund or account over which he has custody and control, other than sinking funds, in fully hedged debt obligations of sovereign governments and companies that are fully guaranteed by such sovereign governments, with a rating of at least AAA by Moody's Investors Service, Inc., and a rating of at least AAA by Standard and Poors, Inc., and a maturity of no more than five years.
Not more than ten percent of the total funds of the Commonwealth available for investment may be invested in the manner described in this section.
1988, c. 461, § 2.1-328.11; 2001, c. 844.