Mont. Admin. R. 2.59.418 - INVESTMENT RULE - CORPORATE BONDS
(1) A credit union
may invest up to 20 percent of its net worth , per issuer, in corporate
bonds.
(2) These bonds must be
investment grade, i.e., rated in one of the four highest grades by a recognized
national investment rating organization.
(3) Other rating services may be used if the
gradations are equivalent to those above, and the rating services are
identified by the credit union's investment policy.
(4) Corporate bonds must be reviewed as
necessary to assure the credit union's board of directors that bond quality has
not fallen below investment grade.
Notes
AUTH: 32-3-701, MCA; IMP: 32-3-701, MCA
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