SECTION .0900 ‑ INVESTMENTS

 

04 NCAC 16D .0901          SECURITIES

An association may invest in any security that has been

rated at least BAA or equivalent by a nationally recognized rating service.  In

no case may investments in BAA or equivalent securities exceed in the aggregate

twenty five percent of net worth without the written permission of the Commissioner

of Banks.  Any such decision to allow the bank to transcend the stated limits

are the standards of what would constitute a safe and sound banking practice

for that bank at that time.

 

History Note:        Authority G.S. 54B-55; 54B-193; 54C-53;

54C-141;

Eff. October 1, 1987;

Amended Eff. December 1, 2011; July 1, 1990.