BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
CREDIT UNION ACT
Powers of Credit Unions
383-E:4-408 Other Legal Investments.
The following described securities are legal investments:
(a) Acceptances of member banks of the Federal Reserve System of the times and maturities made eligible for rediscount and purchased by Federal Reserve Banks.
(b) Advances of federal funds to banks which also qualify as cash depositories under RSA 383-B:3-301(k), provided that total advances of federal funds under this subsection shall not exceed 20 percent of the credit union's shares and deposits, and the total of such advances by a credit union to any one bank shall not exceed 10 percent of the bank's capital funds.
(c) The obligations issued or guaranteed by the International Bank for Reconstruction and Development provided that such obligations are payable in dollars in the United States, and that the principal office of the obligor is, at the time of making such investment, located within the United States.
Source. 2015, 272:16, eff. Oct. 1, 2015.