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or a state-licensed branch of a foreign bank, except that for obligations with a maturity of one year or less,​ <br />the debt obligations of the issuing institution or its parent are rated in the top short-term rating category by​ <br />at least two nationally recognized statistical ratings organizations and for obligations with a maturity in​ <br />excess of one year, the senior debt obligations of the issuing institution or its parent are rated at least A or​ <br />its equivalent by at least two nationally recognized statistical ratings organizations. Investments in these​ <br />instruments shall not be subject to the collateralization requirements of section 118A.03.​ <br />History: 1996 c 399 art 1 s 8; 2014 c 292 s 5​ <br />118A.08 NO SUPERSEDING EFFECT.​ <br />Except as provided in Laws 1996, chapter 399, article 1, section 11, sections 118A.01 to 118A.06 shall​ <br />not supersede any general or special law relating to the deposit and investment of public funds.​ <br />History: 1996 c 399 art 1 s 9​ <br />Copyright © 2016 by the Revisor of Statutes, State of Minnesota. All Rights Reserved.​ <br />8​MINNESOTA STATUTES 2016​118A.07​