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2002 SESSION
HB 592 Investment of Public Funds Act; corporate notes.
Introduced by: John S. Reid | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Investment of Public Funds Act; corporate notes. Allows state agencies or institutions of the Commonwealth having an internal or external public funds manager with professional investment management capabilities to invest in corporate notes with a duration of more than five years. The corporate notes are still required to have a rating of at least A by two rating agencies, one of which shall be either Moody's Investors Service, Inc., or Standard and Poors, Inc.
SUMMARY AS INTRODUCED:
Investment of Public Funds Act; corporate notes. Allows state agencies or institutions of the Commonwealth having an internal or external public funds manager with professional investment management capabilities to invest in corporate notes with a duration of more than five years. The corporate notes are still required to have a rating of at least A by two rating agencies, one of which shall be either Moody's Investors Service, Inc., or Standard and Poors, Inc.