10 Pa. Code § 31a.11 - Collective investment
(a) Funds
held by an association as fiduciary may be held in one of the following:
(1) A common trust fund maintained by the
association exclusively for the collective investment and reinvestment of
moneys contributed thereto by the association in its capacity as trustee,
executor, administrator, guardian, or custodian under
20 Pa.C.S. §§
5301-5310 (relating to Pennsylvania Uniform
Transfers to Minors Act).
(2) A
fund consisting solely of assets of retirement, pension, profit sharing, stock
bonus or other trusts which are exempt from Federal income taxation under the
Internal Revenue Code .
(b) Collective investments of funds or other
property by an association under subsection (a) shall be administered in
accordance with Comptroller of the Currency Regulation 9.18,
12 CFR
9.18; however, any documents required to be
filed with the Comptroller of the Currency shall be filed with the
Department .
(c) As used in this
section, the term association shall include two or more associations which are
members of the same affiliated group with respect to any fund established under
this section of which any of such affiliated associations is trustee, or of
which two or more of such affiliated associations are co-trustees.
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