1301:1-3-12 Mutual funds.

The limitation on investment in the securities of a single issuer imposed in division (A) of section 1109.47 of the Revised Code, which, in accordance with division (B)(1) of the Revised Code, does not apply to a bank's direct investment in the securities enumerated in divisions (A)(1) to (6) of section 1109.32 of the Revised Code, shall also not apply to a bank's equity investment in an investment company or mutual fund the portfolio of which consists solely of securities enumerated in divisions (A)(1) to (6) of section 1109.32 of the Revised Code.

R.C. 119.032 review dates: 11/15/2006 and 11/15/2011

Promulgated Under: 119.03

Statutory Authority: 1121.03

Rule Amplifies: 1109.47

Prior Effective Dates: 2/18/02, 12/29/90