Connecticut § 7-362 - Investment of fund.
Full text of Connecticut Connecticut General Statutes § 7-362 — Investment of fund., with citation guidance and answers to common questions.
§ 7-362. Investment of fund.
Sec. 7-362. Investment of fund. The budget-making authority may, from time to time, direct the treasurer to invest, such portion of such fund as in its opinion is advisable, provided: (1) Not more than thirty-one per cent of the total amount invested shall be invested in equity securities; and (2) not less than fifty per cent of the total amount invested shall be invested in the stock or bonds or interest-bearing notes or obligations of the United States, or those for which the faith of the United States is pledged to provide for the payment of the principal and interest, including the bonds of the District of Columbia.
(1949 Rev., S. 795; P.A. 93-46, S. 2.)
History: P.A. 93-46 amended section to clarify the portion of reserve funds which a municipality may invest in equity securities.
Source: official Connecticut text · Last verified 2026-08-27
Frequently Asked Questions About Connecticut § 7-362
What does Connecticut General Statutes § 7-362 cover?
Section 7-362 ("Investment of fund.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 7-362?
A common citation format is "Connecticut General Statutes § 7-362" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 7-362 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Connecticut.