Kan. Admin. Regs. § 122-3-3

Current through Register Vol. 44, No. 2, January 9, 2025

Section 122-3-3 - Investment instruments; requirements

(a) Except as otherwise authorized by statutes applicable to a specific fund that is created by statute or by bond documents, investments of state moneys shall be limited to those instruments permitted under K.S.A. 1995 Supp. 75-4209, and amendments thereto.

(b) Repurchase agreements may be made in accordance with K.S.A. 1995 Supp. 75-4209(a)(2)(B) and amendments thereto. Reverse repurchase agreements may be made in accordance with K.S.A. 1995 Supp. 75-4212a, and amendments thereto.

(c) Such repurchase and reverse repurchase agreements may be made only with Kansas banks and dealers that have entered into fully executed master repurchase agreements on file with the board.

(d) Except as otherwise authorized by the board, the market value of the securities underlying any repurchase agreement shall be maintained with a market value of at least 102% of the amount of the repurchase agreement. If the market value of the securities falls below 102% of the amount of the repurchase agreement, additional securities shall be required to attain full security unless otherwise authorized by the board.

Kan. Admin. Regs. § 122-3-3

Authorized by and implementing K.S.A. 1995 Supp. 75-4232, as amended by L. 1996, Ch. 254, Sec. 26; effective, T-122-7-27-95, July 27, 1995; effective Nov. 17, 1995; amended Jan. 24, 1997.