New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT
Part 22 - Common Trust Funds
Section 22.3 - Limitation on participations
Universal Citation: 3 NY Comp Codes Rules and Regs ยง 22.3
Current through Register Vol. 46, No. 12, March 20, 2024
No account shall participate, or increase its participation, in a common trust fund if by doing so the total investment of that account in such fund would exceed 10 percent of the market value of the fund. For the purpose of this limitation, if two or more accounts are created by the same person or persons and at least one half of the income or principal of each account is payable or applicable to the use of the same person or persons, such accounts shall be considered as one.
Disclaimer: These regulations may not be the most recent version. New York 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.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
