§412:7-307  Deposits made by savings
and loan associations.  A savings and loan association 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
savings and loan association'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]