ARSD 20:06:31:04.07. Investment limitations

An investment made pursuant to §§ 20:06:31:04.04 to 20:06:31:04.06, inclusive, shall be subject to the following additional limitations: (1) An investment in or loan upon the obligations of an institution other than an institution that issues mortgage-related securities may not exceed five percent of the assets of the trust; (2) An investment in any one mortgage-related security may not exceed five percent of the assets of the trust; (3) The aggregate total investment in mortgage-related securities may not exceed twenty-five percent of the assets of the trust; and (4) Preferred or guaranteed shares issued or guaranteed by a solvent U.S. institution are permissible investments if all of the institution's obligations are eligible as investments under subdivisions 20:06:31:04.05(1) and 20:06:31:04.05(3), but may not exceed two percent of the assets of the trust.