Section 45-18-005 - REVIEW AND DOCUMENTATION005.01 The bank's formal investment policy, as adopted and approved by its Board of Directors ("Board"), must specifically provide for the investments addressed by this Rule.005.02 Specific prior approval of the bank's Board is required for the initial investment in specific investment companies. Such approval must be noted in the official Board minutes.005.03 Procedures, standards, and controls for managing such investments shall be implemented prior to the investment being made. Such procedures, standards, and controls shall be in written form and approved by the Board.005.04 A copy of the prospectus for each such investment shall be maintained in the bank's records for a period of one year after the investment is no longer held in the bank's own portfolio.005.05 The bank shall conduct a review at least quarterly of its holdings of investment company shares to ensure that such investments are in accordance with its investment policy and statutory and regulatory requirements. Such review must be noted in the official Board minutes.45 Neb. Admin. Code, ch. 18, § 005
Adopted effective 11/25/2023