Connecticut § 36a-353 (Formerly Sec. 36-9w). Investments in certain investment companies or investment trusts.

Connecticut Statutes

§ 36a-353 — (Formerly Sec. 36-9w). Investments in certain investment companies or investment trusts.

Connecticut § 36a-353

Title 36aThe Banking Law of Connecticut

Ch. 665bFiduciary Powers

This text of Connecticut § 36a-353 ((Formerly Sec. 36-9w). Investments in certain investment companies or investment trusts.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 36a-353 (2026).

Text

In the absence of any express provisions to the contrary, whenever any general statute, special act, regulation, trust indenture, will or other instrument governing the investment powers of trustees directs, requires, authorizes or permits investment in United States government obligations, a trustee may invest in and hold such obligations, either directly or in the form of interests in an investment company or investment trust registered under the Investment Company Act of 1940, (15 USC, Section 80a-1 et seq.) as from time to time amended, the portfolio of which is limited to United States government obligations and to repurchase agreements fully collateralized by any such obligations, and which is rated within the top two rating categories of any nationally recognized rating service. See

Free access — add to your briefcase to read the full text and ask questions with AI

In the absence of any express provisions to the contrary, whenever any general statute, special act, regulation, trust indenture, will or other instrument governing the investment powers of trustees directs, requires, authorizes or permits investment in United States government obligations, a trustee may invest in and hold such obligations, either directly or in the form of interests in an investment company or investment trust registered under the Investment Company Act of 1940, (15 USC, Section 80a-1 et seq.) as from time to time amended, the portfolio of which is limited to United States government obligations and to repurchase agreements fully collateralized by any such obligations, and which is rated within the top two rating categories of any nationally recognized rating service. See Sec. 36a-275 re investments in debt securities.

Legislative History

(P.A. 85-215; P.A. 94-190, S. 2.) History: P.A. 94-190 changed the permitted investment from a federally registered money market fund to a federally registered and top-rated investment company or investment trust the portfolio of which is limited to U.S. government obligations and fully collateralized repurchase agreements; Sec. 36-9w transferred to Sec. 36a-353 in 1995.