40-3406. Investment of health care stabilization fund moneys. - Kansas Statutes

40-3406

Chapter 40.--INSURANCE Article 34.--HEALTH CARE PROVIDER INSURANCE

      40-3406.   Investment of health care stabilizationfund moneys.After consultation with the board ofgovernors the director of investments may invest and reinvest moneys in thefund in accordance with investment policies established by the pooledmoney investment board under K.S.A. 75-4232, and amendments thereto, in thefollowing:

      (a)   Direct obligations of, or obligations that are insured as to principaland interest by, the United States of America or any agency thereof andobligations and securities of the United States sponsored enterprises whichunder federal law may be accepted as security for public funds, includinginvestments in mortgage-backed securities;

      (b)   repurchase agreements with a Kansas bank or primary governmentsecurities dealer which reports to the market reports division of the federalreserve bank of New York for direct obligations of, or obligations that areinsured as to principal and interest by, the United States government or anyagency thereof and obligations and securities of United States governmentsponsored enterprises which under federal law may be accepted as security forpublic funds;

      (c)   commercial paper that does not exceed 270 days to maturity and which hasreceived one of the two highest commercial paper credit ratings by anationally recognized investment rating firm;

      (d)   interest-bearing time deposits in any commercial bank located in Kansas;

      (e)   the municipal investment pool fund, under K.S.A. 12-1677a, andamendments thereto; or

      (f)   corporate bonds that are rated in one of the two highest credit ratingcategories by a nationally recognized investment rating firm.

      History:   L. 1976, ch. 231, § 6; L. 1987, ch. 295, § 4; L.1989, ch. 48, § 85;L. 1996, ch. 254, § 9;L. 2005, ch. 205, § 2; July 1.