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;
Eff. October 1, 1987;
Amended Eff. December 1, 2011; July 1, 1990.