S-29.02 - Trust Companies and Savings Companies Act

Full text
65. An authorized trust company must adopt an investment policy approved by its board of directors.
The investment policy must, in particular,
(1)  provide for the matching of the respective maturities of the company’s investments with the company’s liabilities;
(2)  provide for the appropriate diversification of those investments; and
(3)  include a description of the types of investments and other financial transactions it authorizes and the limits applicable to them.
The company must send its investment policy to the Authority at the Authority’s request.
2018, c. 232018, c. 23, s. 395.
In force: 2019-06-13
65. An authorized trust company must adopt an investment policy approved by its board of directors.
The investment policy must, in particular,
(1)  provide for the matching of the respective maturities of the company’s investments with the company’s liabilities;
(2)  provide for the appropriate diversification of those investments; and
(3)  include a description of the types of investments and other financial transactions it authorizes and the limits applicable to them.
The company must send its investment policy to the Authority at the Authority’s request.
2018, c. 232018, c. 23, s. 395.