Mo. Code Regs. tit. 20 § 1100-2.120
Current through Register Vol. 49, No. 19, October 1, 2024
Section 20 CSR 1100-2.120 - Credit Union Investments: Savings and Loan Associations and Savings BanksPURPOSE: This rule establishes the requirements a credit union must meet when investing in federal and state-chartered savings and loan associations and saving banks (see section 370.075(4), RSMo for statutory provisions).
(1) With the statutory limitation of twenty-five percent (25%) of a credit union's capital, surplus and reserve funds, credit unions may invest in accounts of federally insured savings and loan associations and savings banks. Attention is called to the fact that where the investment in any one (1) savings and loan association or savings bank exceeds one hundred thousand dollars ($100,000), all funds in excess of one hundred thousand dollars ($100,000) are uninsured funds. Subsidiary ledgers shall be maintained to detail multiple investment transactions. AUTHORITY: section 370.100, RSMo 1994.* This rule originally filed as 4 CSR 100-2.120. Original rule filed Sept. 14, 1972, effective Sept. 24, 1972. Amended: Filed Dec. 15, 1975, effective Dec. 25, 1975. Amended: Filed June 8, 1976, effective Sept. 11 , 1976. Amended: Filed Aug. 13, 1980, effective Jan. 30, 1981. Amended: Filed May 4, 1987, effective July 23, 1987. Amended: Filed Oct. 12, 1988, effective Feb. 11 , 1989. Amended: Filed Nov. 20, 1997, effective June 30, 1998. Moved to 20 CSR 1100-2.120, effective Aug. 28, 2006. *Original authority: 370.100, RSMo 1939, amended 1945, 1945, 1949, 1959, 1967, 1972.