1301:9-3-13 Approval of investments.  

  • Text Box: ACTION: Final Text Box: DATE: 03/14/2016 8:45 AM

     

     

     

    1301:9-3-13                 Approval of investments.

     

     

     

    (A)   Except as provided in divisions (A)(1) to (A)(68) of section 1761.13 of the Revised Code, a credit union share guaranty corporation shall not invest or deposit its funds in any manner or make any investment in any company, related or unrelated, without obtaining the prior written approval of the superintendent of credit unions.

     

    (B)  As used in paragraph (A) of this rule:

     

    (1)      "Company" means any corporation, partnership, association, joint stock company or unincorporated organization.

     

    (2)   "Investment" means any equity interest, including, general partnership interests, limited partnership interests in which liability is limited to the amount of the investment, and any bonds, notes, debentures or other evidence of indebtedness of any company.

     

    (3)    "Related" means the business or activities of the company are similar to the business and activities of the credit union share guaranty corporation with respect to business, trade, products or services.

     

    (4)   "Unrelated" means the business or activities of the company are not similar to the business and activities of the credit union share guaranty corporation with respect to business, trade, products or services.

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    1301:9-3-13

     

     

     

     

    Effective:

     

     

     

     

     

     

    03/24/2016

    2

    Five Year Review (FYR) Dates:

     

    01/08/2016 and 03/24/2021

     

     

    CERTIFIED ELECTRONICALLY

     

     

     

    Certification

     

     

     

     

    03/14/2016

     

     

     

    Date

     

     

     

     

    Promulgated Under:

     

    119.03

     

     

    Statutory Authority:

    1761.04

     

     

    Rule Amplifies:

    Prior Effective Dates:

    1761.13

    None

     

     

Document Information

Effective Date:
3/24/2016
File Date:
2016-03-14
Last Day in Effect:
2016-03-24
Five Year Review:
Yes
Rule File:
1301$9-3-13_PH_FF_A_RU_20160314_0845.pdf
Related Chapter/Rule NO.: (1)
Ill. Adm. Code 1301:9-3-13. Approval of investments