808 KAR 1:110.
Investment of bank funds.
RELATES TO: KRS 286.3-100(7)
KRS 286.1-011, 286.1-020
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