§ 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 maturity of no more than five years that have received at least two of the following ratings: (i) at least Aaa by Moody’s Investors Service, Inc.; (ii) at least AAA by Standard and Poor’s; or (iii) at least AAA by Fitch Ratings, Inc. Not more than 10 percent of the total funds of the Commonwealth available for investment may be invested in the manner described in this section.
History
This law was first created in 1988. The record of its establishment is cataloged in chapter 461 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1988 “Acts” aren’t available online. It has been modified 2 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 2001, chapter 844; in 2020, chapter 333.
1988, c. 461, § 2.1-328.11; 2001, c. 844; 2020, c. 333.