Section 23:16 Custody; Investments.
I. The trustees shall have the custody of all trust funds held by their county.
II. The funds shall be invested only by deposit in some savings bank or in the savings department of a national bank or trust company in this state, or in shares of any building and loan association or cooperative bank, incorporated and doing business under the laws of this state, or in the shares of any federal savings and loan association, located and doing business in this state, or in bonds, notes or other obligations of the United States government, or in state, county, town, city, school district, water and sewer district bonds and the notes of towns or cities in this state; and such stocks and bonds as are legal for investment by New Hampshire savings banks and when so invested, the trustees shall not be liable for the loss thereof; and in any common trust fund established by the New Hampshire Charitable Foundation in accordance with RSA 292:23. The trustees may retain investments as received from donors until the maturity thereof.
III. Deposits in banks shall be made in the name of the county which holds the same in trust, and it shall appear upon the book thereof that the same is a trust fund.
Source. 1983, 232:1; 1992, 24:2, I, eff. April 3, 1992.