New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT
Part 22 - Common Trust Funds
Section 22.8 - Limitations
Universal Citation: 3 NY Comp Codes Rules and Regs ยง 22.8
Current through Register Vol. 46, No. 12, March 20, 2024
No investment for a common trust fund shall be made in stocks, bonds or other obligations of any one person, firm or corporation if as a result of such investment the total amount invested in stocks, bonds or other obligations issued or guaranteed by such person, firm or corporation would aggregate in excess of 10 percent of the then market value of the fund, provided that this limitation shall not apply to investments in direct obligations of the United States or other obligations fully guaranteed by the United States as to principal and interest.
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