Sec. 3-31a. Authorized investments.
Sec. 3-31a. Authorized investments. The Treasurer is authorized to invest or reinvest the civil list funds and all other funds under the Treasurer's control in United States
government obligations, United States agency obligations, shares or interests in an investment company or investment trust registered under the Investment Company Act
of 1940, whose portfolio is limited to obligations of the United States, its agencies or
instrumentalities, or repurchase agreements fully collateralized by such obligations,
United States postal service obligations, certificates of deposit, commercial paper, savings accounts and bank acceptances. The Treasurer may also invest or reinvest such
funds exclusive of civil list funds in the sale or acquisition of securities or obligations
which the Treasurer is authorized to sell or acquire for purposes of any combined investment fund established pursuant to section 3-31b, subject to repurchase agreements in
the manner in which such agreements are negotiated in sales of such securities or obligations in the marketplace, provided the Treasurer shall not enter into such an agreement
with any securities dealer or bank acting as a securities dealer unless such dealer or bank
is included in the list of primary dealers, effective at the time of such agreement, as
prepared by the Federal Reserve Bank of New York. The Treasurer is authorized to
invest all or any part of any sinking fund in any bonds in which savings banks may
legally invest, provided that the provisions of subsection (n) of section 36-96 shall not
be applicable to any investment in such bonds, and provided such bonds mature prior
to the maturity of such bonds of the state which are outstanding.
(1971, P.A. 623, S. 1; P.A. 78-236, S. 1, 20; P.A. 79-233, S. 5; P.A. 80-483, S. 8, 186; P.A. 86-29, S. 2, 3; P.A. 92-12,
S. 108; P.A. 94-7, S. 4.)
History: P.A. 78-236 deleted reference to powers under section being additional to investment authority granted under
Secs. 3-28 to 3-31 and added provision empowering treasurer to invest sinking fund moneys in bonds in which savings
banks may legally invest; P.A. 79-233 specified that Sec. 36-96(14b) is inapplicable to investments in bonds; P.A. 80-483
corrected faulty reference to Subsec. "14b" of Sec. 39-96; P.A. 86-29 added provision that treasurer may use repurchase
agreements when investing state funds in any securities the treasurer is authorized to use for combined investment funds
under Sec. 3-31b, provided such agreements may only be entered into with dealers or banks included in the list of primary
dealers prepared by the Federal Reserve Bank of New York; P.A. 92-12 made a technical change; P.A. 94-7 amended
section to allow the treasurer to invest or reinvest funds in certain shares or interests in an investment company or investment
trust registered under the Investment Company Act of 1940.
Cited. 41 CS 90.