Utah Administrative Code
Topic - Money Management Council
Title R628 - Administration
Rule R628-10 - Rating Requirements to Be a Permitted Depository
Section R628-10-5 - Restrictions on Concentration of Deposits in Any One Permitted Depository Institution
Current through Bulletin 2024-06, March 15, 2024
The maximum amount of any public treasurers portfolio which can be invested in any one Permitted depository institution shall be as follows:
(1) Portfolios of $10,000,000 or less may not invest more than 10% of the total portfolio with a single issuer.
(2) Portfolios greater than $10,000,000 but less than $20,000,000 may not invest more than $1,000,000 in a single issuer.
(3) Portfolios of $20,000,000 or more may not invest more than 5% of the total portfolio with a single issuer.
The amount or percentages used in determining the amount of Permitted deposits a treasurer may purchase, shall be determined by the book value of the portfolio at the time of purchase.
