reglab/housing_qa huggingface dataset:
20 PA Cons Stat § 7304 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7304 - Obligations of Federal organizations

§ 7304. Obligations of Federal organizations. Obligations of the following organizations constituted under the laws of the United States shall be authorized investments:  (1) National Housing Administration.--Obligations issued pursuant to any housing act of the United States heretofore or hereafter enacted, but only if fully and unconditionally guaranteed as to principal and interest by the United States.  (2) Federal land banks.--Obligations of any Federal land bank and consolidated obligations, being the joint and several obligations of all Federal land banks, issued pursuant to the act of Congress of July 17, 1916 (39 Stat. 380), and its amendments and supplements heretofore or hereafter enacted.  (3) Federal home loan banks.--Obligations of any Federal home loan bank and consolidated obligations, being the joint and several obligations of all Federal home loan banks, issued pursuant to the act of Congress of July 22, 1932 (47 Stat. 725), and its amendments and supplements heretofore or hereafter enacted.  (4) Federal intermediate credit banks.--Consolidated obligations, being the joint and several obligations of all Federal intermediate credit banks, issued pursuant to the act of Congress of March 4, 1923 (42 Stat. 1456), and its amendments and supplements heretofore or hereafter enacted.  (5) Federal National Mortgage Association.--Obligations of the Federal National Mortgage Association issued pursuant to the act of Congress of August 2, 1954 (68 Stat. 612), and its amendments and supplements.  (6) Banks for cooperatives.--Obligations of the Central Bank for Cooperatives and consolidated obligations of the Central Bank for Cooperatives, and the regional banks for cooperatives issued pursuant to the provisions of the act of Congress of June 16, 1933, known as the "Farm Credit Act of 1933" (48 Stat. 257), and its amendments and supplements heretofore or hereafter enacted.  (7) Tennessee Valley Authority.--Obligations issued, assumed or guaranteed by the Tennessee Valley Authority.
20 PA Cons Stat § 7306 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7306 - Obligations of governmental organizations existing pursuant to the laws of Pennsylvania, other states and the District of Columbia

§ 7306. Obligations of governmental organizations existing pursuant to the laws of Pennsylvania, other states and the District of Columbia. Obligations of any authority, commission or similar governmental organization existing pursuant to the laws of this Commonwealth or the laws of any other state or of the District of Columbia shall be authorized investments if purchased or retained in the exercise of that degree of judgment and care, under circumstances then prevailing, which men of prudence, discretion and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income to be derived therefrom as well as the probable safety of their capital. The authorization to make and retain investments pursuant to this section shall be in addition to, and independent of, authorizations to make investments pursuant to other provisions of this chapter and requirements applicable under other provisions of this chapter shall not affect investments also authorized by this section.   (Dec. 10, 1974, P.L.867, No.293, eff. imd.)
20 PA Cons Stat § 7307 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7307 - Corporate bonds

 § 7307. Corporate bonds. (a) In general.--Any interest-bearing obligation, including bonds, notes, debentures, and car-trust certificates, issued, guaranteed, or assumed by, a corporation organized under the laws of the United States, of any commonwealth or state thereof, or of the District of Columbia, shall be an authorized investment if purchased or retained in the exercise of that degree of judgment and care, under the circumstances then prevailing, which men of prudence, discretion and intelligence exercise in the management of their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds, considering the probable income to be derived therefrom as well as the probable safety of their capital.  (b) Definition.--As used in this section "corporation" shall include a voluntary association, a joint-stock association or company, a business trust, a Massachusetts trust, a common-law trust, a municipal or quasi-municipal corporation by whatever name called, and any other organization organized and existing for any lawful purpose and which, like a corporation, continues to exist notwithstanding changes in the personnel of its members or participants, and conducts its affairs through a committee, a board, or some other group acting in a representative capacity.
20 PA Cons Stat § 7309 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7309 - Fractional interests

 § 7309. Fractional interests. (a) Mortgages.--A fractional interest in an obligation naming a fiduciary as the obligee, secured by one or more mortgages, shall be an authorized investment for an estate of which the fiduciary is sole fiduciary or co-fiduciary, if the whole of the obligation would be an authorized investment under the provisions of section 7308 (relating to mortgages). Appraisement of the real estate subject to the lien of such mortgage or mortgages need not be made concurrently with the acquisition of such fractional interest, if:  (1) it is a fractional interest in a mortgage referred to in section 7308(1) or (2); or (2) an appraisement has been made within three years immediately preceding the acquisition, in accordance with the requirements of section 7308(4), and if a person qualified at the time of the acquisition to serve as an appraiser of the real estate shall certify, in a writing to be preserved among the fiduciary's records, that at the date of the acquisition the unpaid principal amount of the obligation does not exceed four-fifths of the fair value of the real estate.  (b) Government obligations.--A fractional interest in a governmental obligation, the whole of which would be an authorized investment under section 7303, whether it be in bearer form or names the fiduciary as the obligee, shall be an authorized investment for an estate of which the fiduciary is sole fiduciary or co-fiduciary.
20 PA Cons Stat § 7310 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7310 - Stocks

§ 7310. Stocks. (a) Preferred and common stock.--Preferred and common stock of any corporation organized under the laws of the United States or of any commonwealth or state thereof, or of the District of Columbia, shall be an authorized investment if purchased or retained in the exercise of that degree of judgment and care, under the circumstances then prevailing, which men of prudence, discretion and intelligence exercise in the management of their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds, considering the probable income to be derived therefrom as well as the probable safety of their capital.  "Corporation" as used in this subsection shall include an investment company (as hereinafter defined), a voluntary association, a joint-stock association or company, a business trust, a Massachusetts trust, a common-law trust, and any other organization organized and existing for any lawful purpose and which, like a corporation, continues to exist notwithstanding changes in the personnel of its members or participants, and conducts its affairs through a committee, a board, or some other group acting in a representative capacity.  "Investment company" as used in this subsection shall mean a corporation (as defined in this subsection) which is registered as an investment company under the Federal Investment Company Act of 1940, as from time to time amended, and which has no preferred stock, bonds, loans or any other outstanding securities having preference or priority as to assets or earnings over its common stock and which shall have net assets of not less than $10,000,000 at the date of purchase.  "Common stock" as used in this subsection shall include the stock certificates, certificates of beneficial interests or trust participation certificates issued by any corporation or unincorporated association included under the definition of "corporation" in this subsection.  (b) Savings accounts insured by Federal savings and loan insurance corporation.--Savings accounts of any savings association incorporated under the laws of the Commonwealth, or of any Federal savings and loan association incorporated under the laws of the United States shall be an authorized investment if the withdrawal or repurchase value thereof is insured by the Federal savings and loan insurance corporation pursuant to the act of Congress of June 27, 1934 (48 Stat. 1255), and its supplements and amendments heretofore or hereafter enacted.
20 PA Cons Stat § 7310.1 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7310.1 - Further investment authority

§ 7310.1. Further investment authority. Unless a contrary intent is clearly expressed in the instrument, the authority to invest in specified types of investments will include authorization to invest in the stock of any investment company as defined in this chapter, or in any common or collective trust fund established and maintained by a corporate fiduciary, or by any affiliate of a corporate fiduciary within the meaning of section 1504 of the Internal Revenue Code of 1954 (68A Stat. 3, 26 U.S.C. § 1504), or any successor provision, if the portfolio of the investment company or of the common or collective trust fund consists of such specified types of investments and is otherwise in conformity with the laws of the Commonwealth and of the United States.   (July 14, 1988, P.L.553, No.99, eff. imd.)   1988 Amendment. Act 99 added section 7310.1.
20 PA Cons Stat § 7311 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7311 - Real estate

§ 7311. Real estate. Real estate located in Pennsylvania, other than ground rents, shall be an authorized investment if the court, upon petition, aided if necessary by the report of a master, and being of the opinion that the investment will be for the advantage of the estate and that no change will be made in the course of succession by the investment, shall direct such investment.
20 PA Cons Stat § 7312 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7312 - Ground rent

§ 7312. Ground rent. A ground rent secured upon unencumbered improved real estate located within the Commonwealth shall be an authorized investment if the reserved annual rent, capitalized at the rate of 5% per annum, shall not exceed four-fifth of the fair value of the real estate out of which it issues, determined by appraisal, as in the case of mortgages.
20 PA Cons Stat § 7313 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7313 - Interest-bearing deposit

§ 7313. Interest-bearing deposit. An interest-bearing deposit in any bank, bank and trust company, savings bank, or national banking association, located within the Commonwealth, shall be an authorized investment if:  (1) the maturity date or the permissible date of withdrawal does not exceed one year from the date of the deposit or any renewal thereof; and  (2) such deposits do not exceed the amount which is fully insured by the Federal Deposit Insurance Corporation, pursuant to the act of Congress of June 16, 1933 (48 Stat. 168), and its supplements and amendments, heretofore or hereafter enacted.
20 PA Cons Stat § 7314 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7314 - Common trust fund and mortgage investment fund

§ 7314. Common trust fund and mortgage investment fund. Any corporate fiduciary and its co-fiduciary, if any, may invest in: (1) Common trust fund.--A common trust fund containing only investments authorized for fiduciaries, established and maintained by the corporate fiduciary or by any affiliate of the corporate fiduciary within the meaning of section 1504 of the Internal Revenue Code and otherwise in conformity with the laws of the Commonwealth and of the United States; and  (2) Mortgage investment fund.--A mortgage investment fund containing only mortgages and other investments authorized for fiduciaries, established and maintained by the corporate fiduciary in conformity with the laws of the Commonwealth and of the United States.  (Oct. 12, 1984, P.L.929, No.182, eff. imd.)   1984 Amendment. Act 182 amended par. (1).
20 PA Cons Stat § 7314.1 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7314.1 - Mutual funds

§ 7314.1. Mutual funds. Notwithstanding that a bank or trust company or an affiliate provides services to the investment company or investment trust, including that of an investment advisor, custodian, transfer agent, registrar, sponsor, distributor or manager, and receives reasonable compensation for those services and notwithstanding any other provision of law, a bank or trust company acting as a fiduciary, agent or otherwise may invest and reinvest in the securities of an investment company registered under the Investment Company Act of 1940 (54 Stat. 789, 15 U.S.C. § 80a-1 et seq.) if the portfolio of the investment company or investment trust consists substantially of investments not prohibited by the governing instrument. With respect to any funds invested, the basis upon which compensation is calculated, expressed as a percentage of asset value or otherwise, shall be disclosed by prospectus, account statement or otherwise to all persons to whom statements of the account are rendered.  (Dec. 16, 1992, P.L.1163, No.152, eff. imd.; July 7, 2006, P.L.625, No.98, eff. imd.)
20 PA Cons Stat § 7315 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7315 - Retention of investments

§ 7315. Retention of investments. A fiduciary, if he exercises the same care and prudence as he would in the case of an authorized investment, may retain without liability for resulting loss:  (1) any asset received in kind, even though it is not an authorized investment; (2) any asset purchased in reliance upon a construction, by the court, of the instrument or a provision contained therein even though the court in a subsequent proceeding adopts a contrary construction thereof; and  (3) shares of stock or other securities (and securities received as distributions in respect thereof) of a holding company subject to the Federal Bank Holding Company Act of 1956, as amended, received upon conversion of, or in exchange for, shares of stock or other securities of a bank or a holding company subject to the Federal Bank Holding Company Act of 1956, as amended, which the fiduciary was directed or authorized to retain, in the instrument establishing the trust or otherwise.  (June 12, 1973, P.L.62, No.25, eff. imd.; Oct. 12, 1984, P.L.929, No.182, eff. imd.)   1984 Amendment. Act 182 amended par. (3).
20 PA Cons Stat § 7315.1 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7315.1 - Retention of cash; temporary investments

§ 7315.1. Retention of cash; temporary investments. (a) Uninvested cash.--A fiduciary may hold cash uninvested:  (1) which he reasonably expects to: (i) distribute to beneficiaries as income on a quarterly or more frequent basis; (ii) use for payment of debts, taxes, expenses of administration or reinvestment within the next 90 days; or  (2) when the amount available for investment does not justify the administrative burden of making the investment determined in the light of the facilities available to the fiduciary.  A corporate fiduciary may deposit uninvested funds in its own commercial department. (b) Temporary investments.--A fiduciary may make temporary investment of funds which he is entitled to hold uninvested or which he wishes to hold in liquid form in short-term interest-bearing obligations or deposits, or other short-term liquid investments, selected in each case in compliance with the standards of section 7302(b) (relating to authorized investments; in general), but without regard to any investment restrictions imposed by the governing instrument and may make a reasonable charge, in addition to all other compensation to which he is entitled, for services rendered in making the temporary investment.  (Oct. 12, 1984, P.L.929, No.182, eff. imd.; Dec. 16, 1992, P.L.1163, No.152, eff. imd.)    1992 Amendment. Act 152 amended subsec. (b). See section 27(b) of Act 152 in the appendix to this title for special provisions relating to applicability.  1984 Amendment. Act 182 added section 7315.1.
20 PA Cons Stat § 7316 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7316 - Life insurance, building and loan shares, and similar assets

§ 7316. Life insurance, building and loan shares, and similar assets. A fiduciary receiving in kind a contract of life insurance, stock in a building and loan association, or any similar asset providing for periodic payments, may retain it and continue to make the periodic payments and otherwise comply with the provisions thereof without liability for resulting loss so long as he, in the exercise of due care and prudence, shall consider advisable under the circumstances.
20 PA Cons Stat § 7317 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7317 - Investments which become unauthorized

§ 7317. Investments which become unauthorized. A fiduciary may retain without liability for resulting loss any investment which was authorized when received or made although such investment no longer qualifies as an authorized investment, provided he exercises due care and prudence in the disposition or retention of any such nonlegal investment.
20 PA Cons Stat § 7318 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7318 - Court direction

§ 7318. Court direction. A fiduciary appointed by the court and not acting under a trust instrument, in addition to or in place of the investments authorized by this chapter, may make and retain without liability for resulting loss, such investments as the court, upon petition of the fiduciary or of any party in interest, and after such notice as it shall direct, aided by the report of a master if necessary, shall authorize or direct, subject only to such conditions and limitations as shall be fixed by the court in the decree authorizing or directing the investment.
20 PA Cons Stat § 7319 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 73 - Municipalities Investments|Section 7319 - Directions of testator or settlor

 § 7319. Directions of testator or settlor. (a) General rule.--The testator or settlor in the instrument establishing a trust may prescribe the powers, duties and liabilities of the fiduciary regarding the investment or noninvestment of principal and income and the acquisition, by purchase or otherwise, retention, and disposition, by sale or otherwise, of any property which, at any time or by reason of any circumstance, shall come into his control; and whenever any such provision shall conflict with this chapter, such provision shall control notwithstanding this chapter, unless the court having jurisdiction over the trust shall otherwise decree pursuant to subsection (b) of this section. In the absence, however, of an express restriction to the contrary in the trust instrument, the fiduciary may invest in any investment authorized by this chapter.  (b) Exception.--Where the instrument establishing a trust contains a restriction on the fiduciary's power of investment and the court having jurisdiction over the trust finds that adherence to the restriction is impractical or that the existing or reasonably foreseeable economic conditions are so far different from those prevailing at the creation of the trust that adherence to the restriction might deprive the respective beneficiaries of income and principal of the full benefits the testator or settlor intended them to enjoy, the court may release the fiduciary from the restriction to such extent and on such conditions, if any, as the court may deem appropriate.   (Dec. 10, 1974, P.L.867, No.293, eff. imd.)   1974 Amendment. Act 293 amended subsec. (b).
20 PA Cons Stat § 7501 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 75 - Limitations on Exercise of Trustee Powers and Powers of Beneficiaries to Appoint Trustees|Section 7501 - Legislative intent

§ 7501. Legislative intent. This chapter is enacted to codify, clarify and confirm certain existing common law principles of fiduciary and trust law relating to conflicts of interest on the part of trustees.
20 PA Cons Stat § 7502 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES|Chapter 75 - Limitations on Exercise of Trustee Powers and Powers of Beneficiaries to Appoint Trustees|Section 7502 - Definitions

§ 7502. Definitions. The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise:  "Interested party." Each trustee then serving and each person having an interest in income or principal whom it would be necessary to join as a party in a proceeding for the judicial settlement of a trustee's account. The term "interested party" does not include a person who has not attained majority or is otherwise incapacitated unless a court has appointed a guardian for the person for some purpose other than acting under section 7503 (relating to application of chapter) or an agent has been appointed under a durable power of attorney that is sufficient to grant authority to act under section 7503.