45 Neb. Admin. Code, ch. 18, § 005 - REVIEW AND DOCUMENTATION
005.01 The bank's
formal investment policy, as adopted and approved by its Board of Directors
("Board"), must specifically provide for the investments addressed by this
Rule.
005.02 Specific prior
approval of the bank's Board is required for the initial investment in specific
investment companies. Such approval must be noted in the official Board
minutes.
005.03 Procedures,
standards, and controls for managing such investments shall be implemented
prior to the investment being made. Such procedures, standards, and controls
shall be in written form and approved by the Board.
005.04 A copy of the prospectus for each such
investment shall be maintained in the bank's records for a period of one year
after the investment is no longer held in the bank's own portfolio.
005.05 The bank shall conduct a review at
least quarterly of its holdings of investment company shares to ensure that
such investments are in accordance with its investment policy and statutory and
regulatory requirements. Such review must be noted in the official Board
minutes.
Notes
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