2010 Pennsylvania Code
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 55 - Corporate Powers, Duties and Safeguards
5586 - Restrictions on investments.

     § 5586.  Restrictions on investments.
        (a)  Legal investments.--If the trust instrument shall limit
     or restrict the investment of such assets to investments of the
     class authorized by law as legal investments, the corporation
     may invest and reinvest the assets of the trust or fund in any
     such common trust fund maintained by the corporation, provided
     the investments composing such fund consist solely of
     investments of the class authorized by the Fiduciaries
     Investment Act of 1949 to be held by fiduciaries.
        (b)  Other than legal investments.--If the trust instrument
     shall not limit or restrict the investment of such assets to
     investments of the class authorized by law as legal investments,
     the corporation may invest and reinvest the assets of the trust
     or fund in any such common trust fund maintained by the
     corporation, composed of such investments as in the honest
     exercise of the judgment of the directors or other body of the
     corporation they may, after investigation, determine to be safe
     and proper investments.

        References in Text.  The Fiduciaries Investment Act of 1949,
     referred to in section 5586, was repealed June 30, 1972,
     P.L.508, No.164, effective July 1, 1972. The subject matter is
     now contained in Chapter 73 of Title 20 (Decedents, Estates and
     Fiduciaries).