§412:10-501  General requirement forinvestments.  (a)  A credit union shall make investments that areconsistent with prudent investment practices and in compliance with allapplicable federal and state law.

(b)  The board of directors of a credit unionand any other person charged with the responsibility of investing the creditunion's assets shall exercise such reasonable diligence, discretion, judgment,and intelligence as would be expected of a prudent investor.  Among otherthings, they shall not engage in speculative or unsound investments, and theyshall at all times consider the probable safety as well as the probable incomeof the capital being invested.

(c)  The board of directors shall establishwritten investment policies. [L 1993, c 350, pt of §1]