SENATE BILL NO. 113
AN ACT TO AMEND TITLE 12 OF THE DELAWARE CODE RELATING TO INVESTMENTS OF FIDUCIARIES.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE :
Amend Title 12 of the Delaware Code by adding a new subsection (h) to §3302 to read as follows:
“(h) Except in the case of United States government obligations, which are treated in subsection (g) above, the authority to invest in specified types of investments includes authorization to invest in any open-end or closed-end management investment company or investment trust registered under the Investment Company Act of 1940 (54 Stat. 847, 15 U.S.C. § 80A-1 et seq.), or in any common or collective trust fund established and maintained by a corporate fiduciary, if the portfolio of the investment company or investment trust, or of the common or collective trust fund, consists substantially of the specified types of investments and is otherwise in conformity with the laws of the State.”
Approved June 30, 2003