In addition to the investment authority in section 35-313, the state treasurer may invest and reinvest monies of the state land funds established in sections 37-521 through 37-525 in equity securities pursuant to section 35-314, except that not more than sixty per cent of the monies in each of the funds may be invested in equity securities at any time. The percentage of investment shall be calculated at cost.
A.R.S. § 35-314.01
Permanent state land fund monies; investment
Official source: Arizona State Legislature. Reproduced from public-domain Arizona statutes; confirm against the official source for the current text. Not legal advice.