04 NCAC 16D .0901. SECURITIES

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An association may invest in any security that has been rated at least BAA or equivalent by a nationally recognized rating service. In no case may investments in BAA or equivalent securities exceed in the aggregate twenty five percent of net worth without the written permission of the Commissioner of Banks. Any such decision to allow the bank to transcend the stated limits are the standards of what would constitute a safe and sound banking practice for that bank at that time.

History Note: Authority G.S. 54B-55; 54B-193; 54C-53; 54C-141;

Eff. October 1, 1987;

Amended Eff. December 1, 2011; July 1, 1990.

                    
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