<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".06" citation="COMAR 25.03.04.06" title_num="25" subtitle_num="03" chapter_num="04" heading="Exception for Emergencies and Catastrophic Events.">
  <text>The State Treasurer may make investment decisions inconsistent with this chapter if:</text>
  <paragraph num="A.">
    <text>Either:</text>
    <paragraph num="(1)">
      <text>The Governor of the State of Maryland has declared a state of emergency in accordance with Public Safety Article, §14-107, Annotated Code of Maryland; or</text>
    </paragraph>
    <paragraph num="(2)">
      <text>A catastrophic event occurs that the State Treasurer determines could dramatically shift credit ratings on any of the assets in the portfolio; and</text>
    </paragraph>
  </paragraph>
  <paragraph num="B.">
    <text>The State Treasurer determines the investment decisions are in the best interest of the State.</text>
  </paragraph>
</regulation>