{"data":{"id":"us-ak/as-37.23.030","jurisdiction":"us-ak","citation":"AS 37.23.030","heading":"Collateralization.","body":"Investment in certificates of deposit under AS 37.23.020(6) and the entire amount of principal and interest payable upon maturity of the certificates must be collateralized by a combination of securities that are marked to market at least monthly and have maturity dates that do not exceed five years. Only the following securities may serve as collateral:\n(1) obligations of the United States with a maturity date of five years or less after the date of the pool's investment transaction, and with a market value of at least 102 percent;\n(2) securities in United States agencies or instrumentalities that are actively traded, other than mortgage pass-through securities, with a maturity date of\n(A) one year or less after the date of the pool's investment transaction, and with a market value of at least 103 percent;\n(B) more than one year and less than five years after the date of the pool's investment transaction, and with a market value of at least 107 percent;\n(3) mortgage pass-through securities issued by the Government National Mortgage Association with a market value of at least 120 percent;\n(4) obligations of the state or its political subdivisions secured by the full faith, credit, and taxing power of the state or its political subdivisions, rated A or higher by at least one of the nationally recognized rating services, with a maturity date of\n(A) one year or less after the date of the pool's investment transaction, and with a market value of at least 102 percent;\n(B) more than one and less than five years after the date of the pool's investment transaction, and with a market value of at least 107 percent.","path":["Title 37. Public Finance.","Chapter 23. Investment Pools for Public Entities."],"source_url":"https://www.akleg.gov/basis/statutes.asp#37.23.030","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:18:56Z","sha256":"a0585b296502aa66f1a5e20c9d3f466d64437b6be163755b72d9f4010d1cabaa","source_id":"us-ak","stale":false,"prev":"us-ak/as-37.23.020","next":"us-ak/as-37.23.035"},"notice":"GroundRules: Original legal text. Not legal advice."}