2010 Pennsylvania Code
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Chapter 73 - Municipalities Investments
7314.1 - Mutual funds.

     § 7314.1.  Mutual funds.
        Notwithstanding that a bank or trust company or an affiliate
     provides services to the investment company or investment trust,
     including that of an investment advisor, custodian, transfer
     agent, registrar, sponsor, distributor or manager, and receives
     reasonable compensation for those services and notwithstanding
     any other provision of law, a bank or trust company acting as a
     fiduciary, agent or otherwise may invest and reinvest in the
     securities of an investment company registered under the
     Investment Company Act of 1940 (54 Stat. 789, 15 U.S.C. § 80a-1
     et seq.) if the portfolio of the investment company or
     investment trust consists substantially of investments not
     prohibited by the governing instrument. With respect to any
     funds invested, the basis upon which compensation is calculated,
     expressed as a percentage of asset value or otherwise, shall be
     disclosed by prospectus, account statement or otherwise to all
     persons to whom statements of the account are rendered.
     (Dec. 16, 1992, P.L.1163, No.152, eff. imd.;2 July 7, 2006,
     P.L.625, No.98, eff. imd.)