N.Y. Banking Law 551 – Investment powers
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§ 551. Investment powers. A mutual trust investment company may invest in such investments as the company may select in its discretion.
Terms Used In N.Y. Banking Law 551
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The amount of stock of any corporation which may be held by any mutual trust investment company shall not exceed five per centum of the number of shares of stock of such corporation outstanding at the time of investment by such mutual trust investment company.