Rule 23-103-4.13 - Mutual Fund SharesA. General. 1. A mutual fund is a company whose primary business is buying and selling securities and other investments.2. Types of mutual funds include growth funds, income funds, balance funds, municipal bonds, money market funds, load funds, no load funds.B. Treatment1. Shares in a mutual fund represent ownership in the investments held by the fund and their value is a countable resource.2. Such investments may be pooled assets (such as stocks or bonds, managed by an investment company). In this event, a mutual fund share represents ownership interest in this pool as opposed to a specific stock.23 Miss. Code. R. 103-4.13
Social Security Act §1902 (r) (2); 42 CFR §435.601(b) (Rev 1994).