2010 Pennsylvania Code
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Chapter 33 - Administration and Personal Representatives
3316 - Investment of funds.

     § 3316.  Investment of funds.
        Subject to his duty to liquidate the estate for prompt
     distribution and to the provisions of the will, if any, the
     personal representative may invest the funds of the estate but
     shall have no duty to do so. Any such investment, except as the
     court or the will may otherwise authorize or direct, shall be
     restricted to:
            (1)  obligations of the United States or the United
        States Treasury, of the Commonwealth, or of any political
        subdivision of the Commonwealth;
            (2)  an interest-bearing deposit in any bank, bank and
        trust company, savings bank or national banking association
        located within this Commonwealth if:
                (i)  the maturity date or the permissible date of
            withdrawal does not exceed one year from the date of the
            deposit or any renewal thereof; and
                (ii)  the deposits do not exceed the amount which is
            fully insured by the Federal Deposit Insurance
            Corporation pursuant to the Federal Deposit Insurance Act
            (64 Stat. 873, 12 U.S.C. §§ 264 and 1811 et seq.);
            (3)  savings accounts of any savings association
        incorporated under the laws of this Commonwealth, or of any
        Federal savings and loan association incorporated under the
        laws of the United States, if the withdrawal or repurchase
        value thereof is insured by the Federal Deposit Insurance
        Corporation pursuant to the Federal Deposit Insurance Act;
        and
            (4)  a money market mutual fund affiliated with a
        corporate personal representative.
     The personal representative may also make temporary investments
     as authorized by section 7207 (relating to retention of cash;
     temporary investments) without regard to any investment
     restrictions imposed by the will.
     (Dec. 16, 1992, P.L.1163, No.152, eff. imd.; June 25, 1999,
     P.L.212, No.28, eff. 6 months)

        1999 Amendment.  See section 6(a) of Act 28 in the appendix
     to this title for special provisions relating to applicability.
        1992 Amendment.  See section 27(b) of Act 152 in the appendix
     to this title for special provisions relating to applicability.