Permitted Investments [Income Tax] Law and Legal Definition
According to 26 USCS § 860G [Title 26. Internal Revenue Code; Subtitle A. Income Taxes; Chapter 1. Normal Taxes and Surtaxes; Subchapter M. Regulated Investment Companies and Real Estate Investment Trusts; Part IV. Real Estate Mortgage Investment Conduits], permitted investments means “any--
(A) cash flow investment,
(B) qualified reserve asset, or
(C) foreclosure property.”
