Current through Register Vol. 60, No. 12, December 1, 2021
Funds of a CCO may be invested in stocks (including trust certificates) of
solvent corporations organized and carrying on a business under the laws of a
sovereign as follows:
(a) Preferred or
guaranteed stocks if the corporation is not in default or arrears as to any
preferred or guaranteed dividend and has continuously and regularly paid such
dividends during the preceding three years or has paid cash dividends for five
years on common stock.
stocks as provided in paragraph (c) of this subsection if:
(A) The obligations and preferred stock, if
any, of such corporation are eligible for investment under these rules;
The stock is registered on
a national securities exchange regulated under the Securities Exchange Act of
et seq., or if of a
type not commonly so registered is regularly traded on a broad national or
OAR 410-141-5165(1), not more than 25 percent of admitted assets may be in
common stocks that have not paid a cash dividend during each of the five years
preceding the date of acquisition.
(2) A CCO shall not invest so as to own or
control more than five percent of the voting power outstanding of a
corporation, nor shall it invest in the obligations or stocks of a corporation
if the CCO and its directors, trustees and officers own or control, or as a
result thereof shall own and control, in the aggregate more than 50 percent of
the voting power. This subsection does not apply to limit the amount of a CCO's
assets that may be invested in the voting securities of a depository
institution or any company that controls the depository institution.
Or. Admin. R.
58-2019, adopt filed 12/18/2019, effective
Statutory/Other Authority: ORS
414.635 & 414.651
Statutes/Other Implemented: ORS