Section 0180-10-1-.07 - LIMITATIONS ON DOLLAR PRICE REPURCHASE AGREEMENTS(1) A dollar price repurchase agreement is hereby defined as a sale of a security coupled with a simultaneous agreement to purchase another security in the future by use of a forward placement contract. Accordingly, a credit union may enter into such an agreement only if:(a) gains and losses on the sale of securities sold are recognized on the settlement date of the initial sale;(b) the limitations cited in Rules 0180-10-1-.02 and 0180-10-1-.03 for purchasing a security under a cash forward agreement are met.Tenn. Comp. R. & Regs. 0180-10-1-.07
Original rule filed September 11, 1980; effective October 27, 1980.Authority: T.C.A. §§ 45-4-1001 and 45-4-501(3).