808 KAR 1:110. Investment of bank funds

Link to law: http://www.lrc.ky.gov/kar/808/001/110.htm
Published: 2015

      808 KAR 1:110.

Investment of bank funds.

 

      RELATES TO: KRS 286.3-100(7)

      STATUTORY AUTHORITY:

KRS 286.1-011, 286.1-020

      NECESSITY, FUNCTION,

AND CONFORMITY: To allow state chartered banks to invest in a particular series

of a mutual fund. Many mutual funds are divided into series to save

administrative expense. The investment objectives of a particular series of a

mutual fund is as restrictive as those of a mutual fund that is not divided

into series, thereby making a particular series just as suitable of an

investment as a particular mutual fund.

 

      Section 1. A bank

may invest its funds in a particular series of a mutual fund if that series

meets the requirements of KRS 286.3-100(7). (16 Ky.R. 2810; eff. 7-19-90; TAm

eff. 4-21-2007.)
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