§412:5-306  Deposits made by banks.  A
bank may deposit any of its funds with (1) a federal reserve bank or a federal
home loan bank in any amount, or (2) another depository institution, provided
that the net deposits in any one depository institution does not exceed
twenty-five per cent of the bank's capital and surplus, unless otherwise
permitted by federal law.  In this section, "net deposits in any one
depository institution" means the sum of (1) balances, other than demand
balances, due from the institution and (2) demand balances due from the
institution, less any demand balances due to that institution if that office of
the institution in which the deposit is made is located in the United States.
[L 1993, c 350, pt of §1]