Connecticut § 7-362 Investment of fund.

Connecticut Statutes

§ 7-362 — Investment of fund.

Connecticut § 7-362

Title 7Municipalities

Ch. 108Municipal Reserve Fund

This text of Connecticut § 7-362 (Investment of fund.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 7-362 (2026).

Text

The budget-making authority may, from time to time, direct the treasurer to invest, such portion of such fund as in its opinion is advisable, provided:

(1)Not more than thirty-one per cent of the total amount invested shall be invested in equity securities; and (2) not less than fifty per cent of the total amount invested shall be invested in the stock or bonds or interest-bearing notes or obligations of the United States, or those for which the faith of the United States is pledged to provide for the payment of the principal and interest, including the bonds of the District of Columbia.

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The budget-making authority may, from time to time, direct the treasurer to invest, such portion of such fund as in its opinion is advisable, provided: (1) Not more than thirty-one per cent of the total amount invested shall be invested in equity securities; and (2) not less than fifty per cent of the total amount invested shall be invested in the stock or bonds or interest-bearing notes or obligations of the United States, or those for which the faith of the United States is pledged to provide for the payment of the principal and interest, including the bonds of the District of Columbia.

Legislative History

(1949 Rev., S. 795; P.A. 93-46, S. 2.) History: P.A. 93-46 amended section to clarify the portion of reserve funds which a municipality may invest in equity securities.