Section 130.241  Definition of the Term "Institutional Investor" under Sections 4C and 4D of the Act

The term institutional investor shall include, but not be limited to:

a)         investment companies, universities, and other organizations whose primary purpose is to invest its own assets or those held in trust by it for others;

b)         trust accounts and individual or group retirement accounts in which a bank, trust company, insurance company or savings and loan institution acts in a fiduciary capacity; and

c)         foundations and endowment funds exempt from taxation under the Internal Revenue Code, a principal business function of which is to invest funds to produce income in order to carry out the purpose of the foundation or fund.