12.34 - LINKED INVESTMENTS -- LIMITATIONS -- RULES -- MATURITY AND RENEWAL OF CERTIFICATES.
12.34 LINKED INVESTMENTS -- LIMITATIONS -- RULES --
MATURITY AND RENEWAL OF CERTIFICATES.
1. The treasurer of state may invest up to the lesser of one
hundred eight million dollars or twenty-five percent of the balance
of the state pooled money fund in certificates of deposit in eligible
lending institutions as provided in section 12.32, this section, and
sections 12.35 through 12.43. One-half of the moneys invested
pursuant to this section shall be made available under the program
implemented pursuant to section 12.43 to increase the availability of
lower cost moneys for purposes of injecting needed capital into small
businesses which are fifty-one percent or more owned, operated, and
actively managed by one or more women, minority persons, or persons
with disabilities. "Disability" means the same as defined in
section 15.102, subsection 7. A "minority person" means the same
as defined in section 15.102, subsection 7. The treasurer shall
invest the remaining one-half of the moneys invested pursuant to this
section to support any other eligible applicant as provided in
section 12.43.
2. The treasurer of state shall adopt rules pursuant to chapter
17A to administer section 12.32, this section, and sections 12.35
through 12.43.
3. A certificate of deposit that is issued to the treasurer of
state by an eligible lending institution on or after July 1, 2006,
may be renewed at the option of the treasurer on an annual basis for
a total term not to exceed five years. All participants with
certificates of deposit issued prior to July 1, 2006, are subject,
for renewal certificates of deposit, to the requirements and terms
applicable to the certificates of deposit issued prior to July 1,
2006. Section History: Recent Form
86 Acts, ch 1096, § 4; 89 Acts, ch 234, § 4; 96 Acts, ch 1058, §
2, 3, 9, 10, 12; 97 Acts, ch 195, §4, 10; 99 Acts, ch 177, § 2, 7, 9;
2001 Acts, ch 24, §2; 2006 Acts, ch 1165, §3
Referred to in §12.31, 12.32, 12.35, 12.36