§ 54-109.82. Investment of funds.
Article 14I.
Investments.
§ 54‑109.82. Investmentof funds.
The capital, deposits,undivided profits and reserve fund of the corporation may be invested only inany of the following ways:
(1) They may be lent tothe members of the corporation in accordance with the provisions of thisChapter.
(2) In capital shares,obligations, or preferred stock issues of any agency or association organizedeither as a stock company, mutual association, or membership corporation,provided the membership or stockholdings, as the case may be, of the agency orassociation are confined or restricted to credit unions or organizations ofcredit unions, or provided the purpose for which the agency or association isorganized or designed is to service or otherwise assist credit unionoperations.
(3) In obligations ofthe State of North Carolina or any subdivision thereof.
(4) In obligations ofthe United States, including bonds and securities upon which payment ofprincipal and interest is fully guaranteed by the United States.
(5) They may bedeposited to the credit of the corporation in savings institutions, creditunions, or State banks or trust companies incorporated under the laws of theState, or in national banks located in the State.
(6) In loans to othercredit unions in any amount not to exceed twenty‑five percent (25%) ofthe shares and unimpaired surplus of the lending credit union.
(7) In an aggregateamount not to exceed twenty‑five percent (25%) of the allocations to thereserve fund in any agency or association of the type described in subdivision(2) of this section provided the purposes of the agency or association aredesigned to assist in establishing and maintaining liquidity, solvency, andsecurity in credit union operations.
(8) In the NorthCarolina Savings Guaranty Corporation.
(9) In any form ofinvestment allowed by law to the State Treasurer under G.S. 147‑69.1.
(10) Debentures issued byan agency of the United States government.
(11) In the CollegeFoundation in any amount not to exceed ten percent (10%) of the shares andunimpaired surplus of the investing credit union.
(12) They may be depositedin any bank or savings institution insured by the federal government or any ofits agencies. (1915,c. 115, s. 18; 1917, c. 232, ss. 2, 3; C.S., s. 5219; 1925, c. 73, ss. 12, 13,14; 1935, c. 87; 1939, c. 400, s. 1; 1947, c. 781; 1965, c. 956, ss. 10, 11;1969, c. 69, s. 1; 1973, c. 199, s. 4; c. 1255, s. 1; 1975, c. 538, s. 1; 1977,c. 559, s. 7; 1979, c. 467, s. 23; c. 809, s. 2; 1991, c. 651, s. 4; 1991 (Reg.Sess., 1992), c. 1030, s. 51.11.)