                                 CODE OF VIRGINIA

INVESTMENT OF FUNDS BY STATE TREASURER IN OBLIGATIONS OF FOREIGN SOVEREIGN
GOVERNMENTS (§ 2.2-4512)

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&#8217;s Investors Service, Inc.; (ii) at least AAA by Standard and
Poor&#8217;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: 1988, c. 461, § 2.1-328.11; 2001, c. 844; 2020, c. 333.