N.Y. Comp. Codes R. & Regs. tit. 3 § 22.3
Current through Register Vol. 46, No. 45, November 2, 2024
No account shall participate, or increase its participation, in a common trust fund if by doing so the total investment of that account in such fund would exceed 10 percent of the market value of the fund. For the purpose of this limitation, if two or more accounts are created by the same person or persons and at least one half of the income or principal of each account is payable or applicable to the use of the same person or persons, such accounts shall be considered as one.
N.Y. Comp. Codes R. & Regs. Tit. 3 § 22.3