Sec. 15. An investment fiduciary may invest in investment companies registered under the
investment company act of 1940, 15 USC 80a-1 to 80a-64. The management company of the investment company shall have been in operation for
at least 5 years and shall have assets under management of more than $500,000,000.00. An investment company may be established as a limited partnership, corporation, limited
liability company, trust, or other organizational entity for which the liability of
an investor does not exceed the amount of the investment under the laws of the United
States or the applicable laws of the state, district, territory, or foreign country
under which the investment company was established. An investment in an investment company shall be considered an investment in the
underlying assets for all purposes under this act.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.