R628-10-5. Restrictions on Concentration of Deposits in Any One Permitted Depository Institution

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  The maximum amount of any public treasurers portfolio which can be invested in any one Permitted depository institution shall be as follows:

  (1) Portfolios of $10,000,000 or less may not invest more than 10% of the total portfolio with a single issuer.

  (2) Portfolios greater than $10,000,000 but less than $20,000,000 may not invest more than $1,000,000 in a single issuer.

  (3) Portfolios of $20,000,000 or more may not invest more than 5% of the total portfolio with a single issuer.

  The amount or percentages used in determining the amount of Permitted deposits a treasurer may purchase, shall be determined by the book value of the portfolio at the time of purchase.

                    
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