§412:6-307  Deposits made by savings banks. A savings bank may deposit any of its funds with (1) a federal reserve bankor a federal home loan bank in any amount, or (2) another depositoryinstitution, provided that the net deposits in any one depository institutiondoes not exceed twenty-five per cent of the savings bank's capital and surplus,unless otherwise permitted by federal law.  In this section "net depositsin any one depository institution" means the sum of (1) balances, otherthan demand balances, due from the institution and (2) demand balances due fromthe institution, less any demand balances due to that institution if thatoffice of the institution in which the deposit is made is located in the UnitedStates. [L 1993, c 350, pt of §1]