20 NCAC 01G .0108. LOANS BETWEEN INVESTMENT FUNDS

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(a) Loans are permitted between investment funds provided that the lending fund is authorized to be a participant in the receiving fund.

(b) Loans shall be liquidated no later than the last day of the calendar month in which originally made.

(c) Interest shall be paid by the receiving fund to the lending fund in an amount equivalent to the amount of interest which would have been earned by a like amount for a like period if the money had been invested by the lending fund in the Short‑Term Fixed Income Investment Fund.

History Note: Filed as an Emergency Regulation Eff. July 1, 1979, for a

Period of 120 Days to Expire on October 29, 1979;

Statutory Authority G.S. 147‑69.3;

Made Permanent Eff. October 29, 1979.

                    
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