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

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

Notwithstanding any provision of law to the contrary, the State Treasurer mayinvest unexpended or excess moneys in any fund or account over which he hascustody and control, other than sinking funds, in fully hedged debtobligations of sovereign governments and companies that are fully guaranteedby such sovereign governments, with a rating of at least AAA by Moody'sInvestors 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 availablefor investment may be invested in the manner described in this section.

(1988, c. 461, § 2.1-328.11; 2001, c. 844.)