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

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.