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<br />GENERAL GOVERNMENT <br />Ch. 1256 <br /> <br />~ 2256.014. Authorized Investments: Mutual Funds <br /> <br />S 2256.014 <br /> <br />(J) A no-load money market mutual fund is an authorized investment under <br />tr.is subch~pter if the mutual fund: <br /> <br />(1) is rezistered with and rerulated bv the Securities and Exchan~e Com- <br />- w _ _ <br /> <br />mISSIOn; <br /> <br />(2) provides the investing entity with a prospectus and other inIormation <br />n:quired by the Securities Exchange Act of 1934 (15 D.S.C. Se'ction iSa et <br />seq.) or the Investment Company Act of 1940 (15 D.S.C. Section 80a-1 et <br />se~.); <br /> <br />(3) has a dollar-weighted average stated maturity of 90 days or fewer; ana <br />-..... .,. <br /> <br /> <br />(4) includes in its investment objectives the maintenance of a stabie net <br />asset v2.1ue of S 1 for each share. <br /> <br />(b) In addition to a no-load money market mutual fund pemlined as ;:m <br />3.l1lhoriz~d investment in Subsection (a), a no-load mutual fund is an authorized <br />investment under this subchapter if the murnal fund: <br /> <br />(1) is registered with the Securities and Exchange Co~rnission; <br />... ... <br /> <br /> <br />(2) has an average weighted maturity of less than two vem; <br />. -- w .,. ttI <br /> <br /> <br />(3) is invested exclusively in obligations approved by this subchapter; <br />( 4) is continuously rated as to investment Qualirv bv at least one nationallv <br />. .. .,. . <br /> <br />reco~!lized investment rating firm of not less than A.A..A or its equivalent; anci <br /> <br />(5) confol1ns to the requirementS set fonh in Sections 2256.016(b) and (c) <br />rdc.ting to t~e eligibility of invesnne:1t pools to receive and invest fu..11ds of <br />investing entities. <br /> <br />(c) An entirv is not authorized bv this section to: <br />. . <br /> <br /> <br />(1) invest in the aggregate more than 80 percent of its mom.hly average <br />fJnd bal:lnce, excluding bond proceeds and reserves and other funds held for <br />debt service, in money market mutual funds described in Subsection (a) or <br />mutual funds described in Subsection (b), either separately or collectively; <br /> <br />(2) invest in the aggregate more than 15 percent of its monthly average <br />fund balance. excluding bond proceeds and reserves and other funds held for <br />d~bt service, in murnal funds described in Subsection (b); <br /> <br />(3) invest :lny ponion of bond proceeds, reserves and funds held for debt <br />se:-vice, in mutual funds described in Subsection (b); or <br /> <br />(4) bvest its funds or funds under its conrrol. including bond proceeds and <br />rc:)~rves and other funds held for debt service, in anyone mutual fund <br />dt:::)crib~d in Subsection (a) or (b) in an amount that exceeds 10 percent of the <br />toW :lSsets of the mutual fund. <br /> <br />,f <br /> <br />Amcncl~d b\' Acts 1995, i4th Le~.. ch. 402. S 1. eff. S~~t. 1. 1995: Acts 199i. i5th L~~.. <br />ch.I~21.~'7.df.S~?t.1.199i.- . - _......~.. <br /> <br />?...~ <br />"'",:,~., r'~ ""'-',""l' .....,~~, rr., ~1" \".., ,.,,~ <br /> <br />, T <br /> <br />, ........".......--."'.... ,".'M .'.M......._.... . <br />