General Investment Limitations

No investment shall be made if, after such investment, the Fund would own:

(a)any combination of obligations of any one political subdivision, corporation or other single issuing entity in excess of ten percent (10%) of Fund assets at cost. This limitation shall not apply to general obligations of the United States, investments authorized under § 8150, or general obligations of Guam.

(b)any combination of investment instruments as covered by § 8151, Subsection

(b)of § 8154, Subsection

(b)of § 8156, and Subsection

(b)of § 8157 in excess of Fifty Percent (50%) of Fund assets at cost.

(c)Obligations or other investments issued or guaranteed by Guam in excess of ten percent (10%) of Fund assets at cost; provided, however, that this limitation shall not apply to such obligations or other investments that are unconditionally guaranteed as to principal and interest by, or supported by lease assignment from, another entity whose principal business is outside of Guam, and whose obligations are authorized investments under §§ 8143 through 8159, inclusive. CH. 8 RETIREMENT OF PUBLIC EMPLOYEES