374-C:19 Form of Investments. –
All utility bonds or other investments of moneys of the bank permitted or provided for under this chapter shall at all times be purchased and held in fully marketable form (subject to provisions for any registration in the name of the bank). All utility bonds at any time purchased, held or owned by the bank shall upon delivery to the bank be accompanied by all documentation customary in the utility bond market, including opinion of counsel, certification and guaranty as to signatures, and certification as to absence of litigation, and such other or further documentation as shall from time to time be required by the bank.
Source. 1979, 498:2. 1981, 315:16, eff. Aug. 16, 1981.