§ 19-3.1-2.1 - Permitted investments. - Rhode Island Statutes

SECTION 19-3.1-2.1

   § 19-3.1-2.1  Permitted investments. –In the absence of any express provisions to the contrary, whenever any generalstatute, special act, regulation, trust indenture, will, or other instrumentgoverning the investment powers of trustees directs, requires, authorizes, orpermits investment in United States government obligations, a trustee mayinvest in and hold these obligations, either directly or in the form ofinterests in an investment company or investment trust registered under theInvestment Company Act of 1940, 15 U.S.C. § 80a-1 et seq., the portfolioof which is limited to United States government obligations and to repurchaseagreements fully collateralized by these obligations, and which is rated in thetop rating category of any nationally recognized rating services.