N.Y. Banking Law Section 551
Investment powers

A mutual trust investment company may invest in such investments as the company may select in its discretion. The amount of stock of any corporation which may be held by any mutual trust investment company shall not exceed five per centum of the number of shares of stock of such corporation outstanding at the time of investment by such mutual trust investment company.

Source: Section 551 — Investment powers, https://www.­nysenate.­gov/legislation/laws/BNK/551 (updated Sep. 22, 2014; accessed Jan. 4, 2025).

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Accessed:
Jan. 4, 2025

Last modified:
Sep. 22, 2014

§ 551’s source at nysenate​.gov

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