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Rule Title: CORPORATE BONDS
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Department: ADMINISTRATION
Chapter: BANKING AND FINANCIAL INSTITUTIONS
Subchapter: Approved Investments
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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2.59.1604    CORPORATE BONDS

(1) Banks may invest up to 20% of their capital and surplus, per issuer, in corporate bonds.

(2) These bonds must be investment grade, i.e., rated in one of the four highest grades by a recognized national investment rating organization. Other rating services may be used if the gradations are equivalent to those above, and the rating services are identified by the bank's investment policy. Corporate bonds should be reviewed as necessary to assure the bank's board of directors that bond quality has not fallen below investment grade.

History: 32-1-433, MCA; IMP, 32-1-424, 32-1-433, MCA; NEW, 2002 MAR p. 166, Eff. 2/1/02; AMD, 2010 MAR p. 214, Eff. 1/29/10.


 

 
MAR Notices Effective From Effective To History Notes
2-59-424 1/29/2010 Current History: 32-1-433, MCA; IMP, 32-1-424, 32-1-433, MCA; NEW, 2002 MAR p. 166, Eff. 2/1/02; AMD, 2010 MAR p. 214, Eff. 1/29/10.
2/1/2002 1/29/2010 History: Sec. 32-1-433, MCA; IMP, Sec. 32-1-424, 32-1-433, MCA; NEW, 2002 MAR p. 166, Eff. 2/1/02.
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