§412:10-502 Permitted investments. (a) To the extent specified herein, a credit union may invest its own assets in:
(b) A credit union may invest its own assets in bonds, securities, or similar obligations issued by this State or any county of this State, through an appropriate agency or instrumentality.
(c) To the extent specified herein, a credit union may invest its own assets in bonds or similar obligations issued by any state of the United States other than this State, the District of Columbia, or any territory or possession of the United States, by municipal governments of such states, territories or possessions, or by any foreign country or political subdivision of such country; provided, that:
(d) To the extent specified, a credit union may invest its own assets in credit union service organizations pursuant to section 412:10-202.
(e) To the extent specified herein, a credit union may invest its own assets in securities that are rated within the four highest grades by a nationally-recognized rating service and which represent ownership of one or more promissory notes, certificates of interest, or participation in such notes, or which are secured by one or more promissory notes, certificates of interest, or participation in such notes, which notes:
The term "securities" in this subsection shall have the same meaning as given in chapter 485A.
(f) To the extent specified herein, a credit union may invest its own assets in mortgage related securities that:
(g) To the extent specified herein, a credit union may purchase, hold, convey, sell or lease real or personal property as follows:
Except as otherwise authorized in this section any tangible personal property coming into the possession of any credit union pursuant to paragraph (3) shall be disposed of as soon as practicable and shall not, without the written consent of the commissioner, be considered a part of the assets of the credit union after the expiration of two years from the date of acquisition.
Except as otherwise authorized in this section any real property acquired by a credit union pursuant to paragraph (3) shall be sold or exchanged for other real property by the credit union within five years after title thereto has vested in it by purchase or otherwise, or within such further time as may be granted by the commissioner.
Any credit union acquiring any real property in any manner other than provided by this section shall immediately, upon receiving notice from the commissioner, charge the same to profit and loss, or otherwise remove the same from assets, and when any loss impairs the capital of the credit union the impairment shall be made good in the manner provided in this chapter. [L 1993, c 350, pt of §1; am L 1997, c 258, §19; am L 2001, c 170, §13; am L 2006, c 229, §8; am L 2009, c 107, §7; am L 2017, c 12, §1]