20 NCAC 01G .0402          ELIGIBLE INVESTMENTS

(a)  All common and preferred stock purchased shall meet the qualifications for investment established by G.S. 147‑69.2(b)(6).  All convertible fixed income securities shall meet the qualifications established in G.S. 147‑69.2(b)(6)i.

(b)  The following securities are eligible for purchase by the investment fund:

(1)           common stock,

(2)           preferred stock,

(3)           securities convertible into common stock,

(4)           ownership units of the other investment fund, and

(5)           mutual fund shares as defined in G.S. 147‑69.2(b)(6)h.4.

(c)  The cash reserves of the investment fund may be temporarily invested in the Short‑Term Investment Fund or in securities eligible for purchase under G.S. 147‑69.1(c).

History Note:        Filed as an Emergency Regulation Eff. July 1, 1979, for a

Period of 120 Days to Expire on October 29, 1979;

Statutory Authority G.S. 147‑69.3;

Made Permanent Eff. October 29, 1979;

Amended Eff. October 1, 1987; July 1, 1987;

June 1, 1984; February 1, 1982.