Arizona § 35-324 Investment of trust funds

Arizona Statutes

§ 35-324 — Investment of trust funds

Arizona § 35-324

Title 35Arizona Revised Statutes

Ch. 2HANDLING OF PUBLIC FUNDS

Art. 2.Money Management

This text of Arizona § 35-324 (Investment of trust funds) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 35-324 (2026).

Text

The treasurer shall invest and reinvest monies of trust funds in:

1.Any securities allowed for the investment of public monies.

2.Fixed income securities of corporations organized and doing business in any state of the United States or the District of Columbia that carry one of the two highest ratings of Moody's investors service and Standard and Poor's rating service or their successors. If only one of these services rates the security, it must carry the highest rating of that service. If a rating change occurs after purchase, it is not mandatory to sell the security.

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The treasurer shall invest and reinvest monies of trust funds in:

1. Any securities allowed for the investment of public monies.

2. Fixed income securities of corporations organized and doing business in any state of the United States or the District of Columbia that carry one of the two highest ratings of Moody's investors service and Standard and Poor's rating service or their successors. If only one of these services rates the security, it must carry the highest rating of that service. If a rating change occurs after purchase, it is not mandatory to sell the security.