Types Of Permitted Accounts

01. Federally Insured. A producer will maintain fiduciary funds only in federally insured accounts. (7-1-24) 02. Investments. If funds held exceed the federally insured limits, then only the excess funds may be deposited into: (7-1-24) a. An investment account that invests only in United States government bonds, United States Treasury certificates or in federally guaranteed obligations; or (7-1-24) b. Money market mutual funds registered with the SEC which are rated AAA by Moody’s S&P. (7-1-24) 03. Designation. A fiduciary fund account is so designated on the records of the financial institution. The account has a separate account number, a separate check register and its own checks displaying “Trust Fund Account” or similar designation on the face of each check. (7-1-24) 04. Interest. The producer will maintain records of any interest accrued. (7-1-24) 05. Affiliated Fiduciary Fund Account. A producer may maintain fiduciary funds in the fiduciary fund account of an affiliated producer. Each producer retains responsibility for compliance. (7-1-24) 017. -- 018. (RESERVED)