[§489D-8]  Permissible investments
and statutory trust.  (a)  A licensee, at all times, shall possess
permissible investments having an aggregate market value, calculated in
accordance with generally accepted accounting principles, of not less than the
aggregate amount of all outstanding payment instruments issued or sold by the
licensee in the United States.  This requirement may be waived by the
commissioner if the dollar volume of a licensee's outstanding payment
instruments does not exceed the bond or other security devices posted by the
licensee pursuant to section 489D-7.



(b)  Permissible investments, even if
commingled with other assets of the licensee, shall be held in trust for the
benefit of the purchasers and holders of the licensee's outstanding payment
instruments in the event of the bankruptcy of the licensee. [L 2006, c 153, pt
of §1]