2010 Pennsylvania Code
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Chapter 73 - Municipalities Investments
7315.1 - Retention of cash; temporary investments.

     § 7315.1.  Retention of cash; temporary investments.
        (a)  Uninvested cash.--A fiduciary may hold cash uninvested:
            (1)  which he reasonably expects to:
                (i)  distribute to beneficiaries as income on a
            quarterly or more frequent basis;
                (ii)  use for payment of debts, taxes, expenses of
            administration or reinvestment within the next 90 days;
            or
            (2)  when the amount available for investment does not
        justify the administrative burden of making the investment
        determined in the light of the facilities available to the
        fiduciary.
     A corporate fiduciary may deposit uninvested funds in its own
     commercial department.
        (b)  Temporary investments.--A fiduciary may make temporary
     investment of funds which he is entitled to hold uninvested or
     which he wishes to hold in liquid form in short-term interest-
     bearing obligations or deposits, or other short-term liquid
     investments, selected in each case in compliance with the
     standards of section 7302(b) (relating to authorized
     investments; in general), but without regard to any investment
     restrictions imposed by the governing instrument and may make a
     reasonable charge, in addition to all other compensation to
     which he is entitled, for services rendered in making the
     temporary investment.
     (Oct. 12, 1984, P.L.929, No.182, eff. imd.; Dec. 16, 1992,
     P.L.1163, No.152, eff. imd.)

        1992 Amendment.  Act 152 amended subsec. (b). See section
     27(b) of Act 152 in the appendix to this title for special
     provisions relating to applicability.
        1984 Amendment.  Act 182 added section 7315.1. Section 15 of
     Act 182 provided that section 7315.1 shall apply to trusts and
     the estates of decedents, whether the trust was created or the
     decedent died before, on or after the effective date of Act 182,
     as well as to funds presently held by the clerks.