Collective Investment Funds

Other Collective Investments – 9.18(c) Funds

12 CFR 9.18(c) authorizes other collective investments for national banks in addition to those authorized under 9.18(a). The OCC recognizes other specific arrangements by which a national bank may collectively invest assets that it holds as a fiduciary, so long as applicable law does not prohibit those arrangements. Bank counsel should ensure that any such collective investment meets the required exemptions from applicable federal securities laws. These narrowly defined collective arrangements, which are described below, are not subject to the provisions of 12 CFR 9.18(b) detailed in appendix B.

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