Shares of stocks, common and/or preferred, of corporations created by or existing under the laws of the United States or any state, district or territory thereof and shares of stocks, common and/or preferred, and convertible securities of non-United States companies; provided: 1. Be listed on a national stock exchange; or
2. Be traded in the over-the-counter market;
- The maximum investments in stocks shall not exceed eighty percent (80%) of the total book value of the total investment fund of the system;
- The stock of such corporation shall:
- The outstanding shares of such corporation shall have a total market value of not less than Fifty Million Dollars ($50,000,000.00);
- The amount of investment in any one (1) corporation shall not exceed three percent (3%) of the book value of the assets of the system;
- The shares of any one (1) corporation owned by the system shall not exceed five percent (5%) of that corporation's outstanding stock.
The board maytake requisite action utilizing foreign currency as an investment vehicle, or to effectuate or hedge transactions for shares of stocks and convertible securities of non-United States companies through foreign or domestic banks, including the purchase and sale, transfer, exchange, or otherwise disposal of, and generally deal in foreignexchange through the use of foreign currency, interbank forward contracts, futures contracts, options contracts, swaps and other related derivativeinstruments, notwithstanding any other provisions of this article to the contrary;