1. (1) A dollar price repurchase agreement is hereby defined as a sale of a security coupled with a simultaneous agreement to purchase another security in the future by use of a forward placement contract. Accordingly, a credit union may enter into such an agreement only if:

   1. (a) gains and losses on the sale of securities sold are recognized on the settlement date of the initial sale;
   2. (b) the limitations cited in Rules 0180-10-1-.02 and 0180-10-1-.03 for purchasing a security under a cash forward agreement are met.

Authority: T.C.A. §§ 45-4-1001 and 45-4-501(3). Administrative History: Original rule filed September 11, 1980; effective October 27, 1980.