R333-7-1. Authority, Scope, and Purpose

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(1) This rule is issued pursuant to Subsection 7-1-301(8)(b)(i) and Section 7-3-3.2.

(2) This rule permits a state-chartered bank to purchase for its own account shares of open-end investment companies subject to certain restrictions.

(3) This rule expands the eligible classes and types of investments for state-chartered banks and gives them rights, privileges and powers granted to national banks.

                    
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