Utah Admin. Code R333-7-3 - Investment by a State-Chartered Bank in Shares of Open-End Investment Companies
(1) A state
chartered bank may purchase and hold shares of an open-end investment company
which are purchased or sold at par without limitation if the portfolio of the
company consists wholly of obligations of, or obligations which are fully
guaranteed as to principal and interest by the United States or this
state.
(2) A state-chartered bank
may invest an amount not to exceed 15% of the bank's total capital in any one
money market fund with a Standard and Poor's Money Market Fund Rating of
AAAm.
Notes
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