HB 1152 Summary

• Amends 62 O.S. 2011, Section 89.2 to authorize the State Treasurer to invest Constitutional Reserve Fund monies in preferred shares, common shares, and corporate bonds in addition to existing authorized investments.

• Preferred shares limited to 20% of available funds with no more than 1/4 of that limit in any single company; shares cannot convert to common shares and have no voting rights.

• Common shares limited to 5% of available funds and cannot exceed 2% of any company's equity; no more than 1/4 of the 5% limit in any single company.

• Corporate bonds limited to 10% of available funds with maturity between 365 and 1,826 days, minimum rating of A2/A or better, and no more than 3/4 of the 10% limit in any single corporate obligation.

• Effective July 1, 2015 with emergency declaration for immediate enactment.