TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: OFFICE OF BANKS AND REAL ESTATE
PART 399 STANDARDS FOR OPERATION AND CONDUCT OF AFFAIRS OF CORPORATE FIDUCIARIES
SECTION 399.120 INVESTMENTS


 

Section 399.120  Investments

 

For purposes of determining the adequacy of capital, surplus and reserves, a trust company, when purchasing, selling and holding investments for its own accounts, shall be subject to the same limitations and conditions with respect to such investments as are permitted for state banks by the Banking Act.  The Commissioner shall disallow any investments that are not so permitted from the calculation of adequate capital, surplus and reserves.