Virginia § 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 foreign sovereign governments

Virginia § 2.2-4512

JurisdictionVirginia

Title 2.2Administration of Government

Subtitle IIAdministration of State Government

Ch. 45Investment of Public Funds Act

Part BTransaction of Public Business

This text of Virginia § 2.2-4512 (Investment of funds by State Treasurer in obligations of foreign sovereign governments) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 2.2-4512 (2026).

Text

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.

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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.