This bill proposes to amend section 38-848 of the Arizona Revised Statutes, specifically updating the regulations regarding the ownership of voting stock by the public safety personnel retirement system. Currently, the law states that the system cannot own more than five percent of the voting stock of any one corporation, with an exception for membership interests in limited liability companies.

The proposed change would insert the term "publicly traded" before "corporation," thereby clarifying that the five percent ownership limitation applies specifically to publicly traded corporations. This amendment aims to refine the existing statute without altering the overall structure or intent of the law, as the rest of the current language remains unchanged.

Statutes affected:
Introduced Version: 38-848