Current through Register Vol. 60, No. 12, December 1, 2021
A CCO shall not
(a) Which at the time of
purchase or acquisition are not interest-bearing or dividend or income-paying,
or are in default in any respect; or
(b) From which the CCO is not entitled to
receive for its exclusive account and benefit the interest, dividends or
(1)(a) of this section shall not apply to property acquired under OAR
410-141-5115, OAR 410-141-5135 or OAR 410-141-5140 if the property is acquired
with the intent and expectation that it will be income-producing.
(3) A CCO shall not have any combination of
investments in or secured by the stocks, obligations, and property of one
person, corporation or political subdivision in excess of ten percent of the
CCO's assets, nor shall it invest more than ten percent of its assets in a
single parcel of real property or in any other single investment. This
subsection does not apply to investments in, or loans upon, the security of the
general obligations of a sovereign.
(4) A CCO shall not invest its funds in any
investment or security found by the Authority to be designed to evade any
prohibition of Applicable Law.
After a hearing, the Authority may by written order require the disposal of an
investment which the Authority finds to be made or retained in violation of
Applicable Law, or of an investment which the Authority, for good cause,
determines to be prejudicial to, or to impair the security of, the stockholders
or Members of the CCO.