3 CRR-NY 36.1NY-CRR
3 CRR-NY 36.1
3 CRR-NY 36.1
36.1 Authorization.
Subject to the requirements of section 36.2 of this Part, a bank or trust company may invest in the shares of investment companies (henceforth referred to as a “fund” or “funds”), provided that the portfolio of the fund consists solely of investments in stocks and obligations in which banks or trust companies are permitted to invest directly. Investment companies include open-end and closed-end investment companies and unit investment trusts as those terms are used in the Investment Company Act of 1940 (title 15 United States Code,* section 80a-1 et seq.).
Footnotes
*
For information regarding the United States Code (USC or U.S.C.), the Code of Federal Regulations (CFR) and the Federal Register, see Supervisory Policy G 1.
3 CRR-NY 36.1
Current through January 31, 2023
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