legal list state(redirected from Legal List States)
Legal List State
A state in the United States that allows insurance companies and pensions only to invest from among a list of approved funds and other investment vehicles. The funds are low risk and have low volatility and are designed to protect policyholders and pensioners.
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legal list state
A state with laws that restrict investment of certain funds only to securities included in a legal list.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.