AZ SB1216

Amends Arizona Revised Statutes section 35-324 regarding the State Treasurer's investment authority for trust funds.

Changes language to allow the treasurer to invest trust funds in securities "allowed" for public monies investment rather than those "permitted."

Updates terminology throughout the statute, replacing archaic language such as "which" with "that" and "the above mentioned" with "these."

Removes provisions authorizing the loaning of permanent endowment fund securities to the financial or dealer community and the sale of permanent endowment securities below par value with reinvestment requirements.