Mississippi Administrative Code
Title 23 - Division of Medicaid
Part 103 - Resources
Chapter 4 - Countable Resources
Rule 23-103-4.13 - Mutual Fund Shares
Universal Citation: MS Code of Rules 23-103-4.13
Current through September 24, 2024
A. General.
1. A mutual fund is a company whose primary
business is buying and selling securities and other investments.
2. Types of mutual funds include growth
funds, income funds, balance funds, municipal bonds, money market funds, load
funds, no load funds.
B. Treatment
1. Shares in a mutual fund represent
ownership in the investments held by the fund and their value is a countable
resource.
2. Such investments may
be pooled assets (such as stocks or bonds, managed by an investment company).
In this event, a mutual fund share represents ownership interest in this pool
as opposed to a specific stock.
Social Security Act §1902 (r) (2); 42 CFR §435.601(b) (Rev 1994).
Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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