412:10-503 Deposits made by credit unions. A credit union may deposit any of its funds in a deposit or share account with another depository institution; provided that the other depository institution has been designated a depository by the board of directors of the credit union and the accounts of the depository institutions are insured by the Federal Deposit Insurance Corporation, National Credit Union Share Insurance Fund or a successor agency. [L 1993, c 350, pt of 1]


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