§412:10-501  General requirement for
investments.  (a)  A credit union shall make investments that are
consistent with prudent investment practices and in compliance with all
applicable federal and state law.



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



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