in chapter 161. Before making a deposit, the Treasurer of State |
must consider the rating of the banking institution, trust company, |
state or federal savings and loan association or mutual savings |
bank on its most recent assessment conducted pursuant to the |
federal Community Reinvestment Act, 12 United States Code, Section |
2901. The Treasurer of State may transfer funds into and out of |
the respective funds in the cash pool as circumstances may require |
to meet current obligations and shall request the State Controller |
to effect such transfers by journal entry as set forth in section |
131-B. When there is excess money in the State Treasury that is |
not needed to meet current obligations, the Treasurer of State may |
invest, with the concurrence of the State Controller or the |
Commissioner of Administrative and Financial Services and with the |
consent of the Governor, those amounts in bonds, notes, |
certificates of indebtedness or other obligations of the United |
States and its agencies and instrumentalities that mature not more |
than 36 months from the date of investment or in repurchase |
agreements that mature within the succeeding 12 months that are |
secured by obligations of the United States and its agencies and |
instrumentalities, prime commercial paper, tax-exempt obligations |
and corporate bonds rated "AAA" that mature not more than 36 months |
from the date of investment, banker's acceptances or so-called "no- |
load" shares of any investment company registered under the federal |
Investment Company Act of 1940, as amended, that complies with Rule |
2a-7 guidelines and maintains a constant share price. The |
Treasurer of State may participate in the securities loan market by |
loaning state-owned bonds, notes or certificates of indebtedness of |
the |