A list of prime investments selected by various states, into which certain institutions and fiduciaries may invest their funds.
A selection of eligible companies and investments, determined by local state governments, for institutions such as insurance companies and pension plans.
A list of investments selected by various states in which certain institutions and fiduciaries, such as insurance companies and banks, may invest. Legal lists are often restricted to high quality securities meeting certain specifications. (See: Prudent Man Rule)
A list of securities published annually by some state banking and/or insurance departments that indicates items deemed suitable for investment by certain fiduciaries within their departments' jurisdictions.
A list of legal investments that are selected by various states in which institutions and fiduciaries, such as insurance companies and banks, may invest. The list is usually comprised of high quality debt and equity securities. Instead of a legal list, some states apply the Prudent Man Rule--the security has to be one that a reasonable man would invest in. In either case, both are used to protect the money that individuals place with fiduciaries and institutions. See: Fiduciary, Legal Investment; Prudent Man Rule; Risk