5587 - Determination of interests.

     § 5587.  Determination of interests.        A nonprofit corporation shall invest the assets of a trust or     fund in a common trust fund authorized by this subchapter by     adding such assets thereto, and by apportioning a participation     therein to such trust or fund in the proportion that the assets     of the trust or fund added thereto bears to the aggregate value     of all the assets of such common trust fund at the time of such     investment, including in such assets the assets of the trust or     fund so added. The withdrawal of a participation from such     common trust fund shall be on a basis of its proportionate     interest in the aggregate value of all the assets of such common     trust fund at the time of such withdrawal. The participating     interest of any trust or fund in such common trust fund may from     time to time be withdrawn, in whole or in part, by the     corporation. Upon such withdrawals the corporation may make     distribution in cash, or ratably in kind, or partly in cash and     partly in kind. Participations in such common trust funds shall     not be sold by the corporation to any other corporation or     person, but this sentence shall not prevent a corporate trustee     designated under section 5585 (relating to establishment or use     of common trust funds authorized) from investing the assets of     such a common trust fund in any collective investment fund     established and maintained by it in accordance with law and to     which the assets comprising such a common trust fund are     eligible contributions.     (Dec. 21, 1988, P.L.1444, No.177, eff. Oct. 1, 1989)