A.R.S. § 35-314.01: Permanent state land fund monies; investment

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.