RSA 31:25 Custody; Investment.
Title: III - TOWNS, CITIES, VILLAGE DISTRICTS, AND UNINCORPORATED PLACES
Chapter: 31 - POWERS AND DUTIES OF TOWNS
The trustees shall have the custody of all trust funds held by their town. Any person who directly or indirectly receives any such trust funds for deposit or for investment in securities of any kind shall, prior to acceptance of such funds, make available at the time of such deposit or investment an option to have such funds secured by collateral having value at least equal to the amount of such funds. Such collateral shall be segregated for the exclusive benefit of the town depositing or investing such funds. Only securities defined by the bank commissioner, as provided by rules adopted pursuant to RSA 383-B:3-301(e), shall be eligible to be pledged as collateral. The funds shall be invested only in deposits in federally insured banks authorized to accept deposits under RSA 6:8, I and I-