None of the securities or obligations described in T.C.A. § 45-3-601 shall be eligible for investment unless rated in one of the four highest investment grades by one of the following rating services:

1. (1) Moody’s
2. (2) Standard & Poors
3. (3) Fitch AND LOAN ASSOCIATIONS

Authority: T.C.A. §§45-3-402 and 45-3-601(c). Administrative History: Original rule certified June 10, 1974. Repeal and new rule filed June 30, 1980; effective September 15, 1980. Transferred from the Department of Commerce and Insurance by Executive Order Number 38; effective February 11, 1983.