2013 Rhode Island General Laws
Title 19 - Financial institutions
Chapter 19-3.1 - Trust Powers
Section 19-3.1-2.1 - Permitted investments.
§ 19-3.1-2.1 Permitted investments. – In the absence of any express provisions to the contrary, whenever any general statute, special act, regulation, trust indenture, will, or other instrument governing the investment powers of trustees directs, requires, authorizes, or permits investment in United States government obligations, a trustee may invest in and hold these obligations, either directly or in the form of interests in an investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. § 80a-1 et seq., the portfolio of which is limited to United States government obligations and to repurchase agreements fully collateralized by these obligations, and which is rated in the top rating category of any nationally recognized rating services.
History of Section.
(P.L. 1995, ch. 268, § 1.)
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