2005 Idaho Code - 68-404A — BANKS AND TRUST COMPANIES -- INVESTMENT IN MUTUAL FUNDS

                                  TITLE  68
                            TRUSTS AND FIDUCIARIES
                                  CHAPTER 4
                              LEGAL INVESTMENTS
    68-404A.  BANKS AND TRUST COMPANIES -- INVESTMENT IN MUTUAL FUNDS. (1) In
addition to other investments authorized by law for the investment of funds
held by a fiduciary, or by the instrument governing the fiduciary
relationship, and notwithstanding any other provision of law, a bank or trust
company acting as a fiduciary, agent or otherwise may, in the exercise of its
investment discretion or at the direction of another person authorized to
direct the investment of funds held by the bank or trust company as a
fiduciary, invest and reinvest in the securities of an open-end or closed-end
management investment company or investment trust registered under the federal
investment company act of 1940.
    (2)  The fact that the bank or trust company or an affiliate of the bank
or trust company provides services to the investment company or investment
trust as an investment advisor, custodian, transfer agent, registrar, sponsor,
distributor, manager or otherwise and is receiving reasonable remuneration for
those services, shall not preclude such bank or trust company from investing
or reinvesting in the securities of such investment company or investment
trust.