RSA 383-E:4-406 Bank Stock.
Title: XXXV - BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
Chapter: 383-E - CREDIT UNION ACT
The following described securities are legal investments:
(a) The securities of any bank or bank holding company incorporated in the United States, provided that:
(1) Such bank or bank holding company shall have a total capital and surplus of at least $50,000,000.
(2) The capital and surplus shall represent not less than 4 percent of the total assets in at least 4 of the 5 years immediately preceding investment.
(3) Net earnings shall have averaged not less than 4/10 of one percent of average total assets over the same 5 years immediately preceding investment.
(4) The total loans to total deposits shall not be greater than 80 percent.
(b) The securities of any bank or trust company, or the special deposits of any investor-owned savings bank incorp