Section 38.1140k - Investment in global securities; prohibited conduct(1) Notwithstanding a percentage of total assets limitation for an investment provided in any other section of this act, an investment fiduciary who is the state treasurer or the investment fiduciary of a system that has assets of $2,000,000,000.00 or more may invest not more than 30% of a system's assets in global securities. An investment fiduciary of a system that has assets of less than $2,000,000,000.00 and who is not the state treasurer may invest not more than 20% of a system's assets in global securities. Except as otherwise provided in this act, an investment fiduciary shall not do any of the following:(a) Invest in more than 5% of the outstanding global securities of any 1 issuer.(b) Invest more than 5% of a system's assets in the global securities of any 1 issuer.(2) Investments in global securities under this section shall be made only by investment fiduciaries described in section 13(11) who have demonstrated expertise in investments of that type.Amended by 2012, Act 347,s 14, eff. 3/28/2013.Add. 1996, Act 485, Imd. Eff. 12/27/1996.