1. 1. Applicable law In addition to the loans a credit union is authorized to make pursuant to chapter 85, a credit union may invest its funds in accordance with the provisions of this chapter.

   [PL 1975, c. 500, §1 (NEW).]

2. 2. Director approval required Investments pursuant to this chapter shall only be made with the approval of the board of directors or executive committee of the credit union.

   [PL 1975, c. 500, §1 (NEW).]

3. 3. Written investment policy A credit union's board of directors shall establish a written investment policy, which must be reviewed and ratified at least annually, that addresses at a minimum the following:

   1. A. Investment quality parameters;

      [PL 2003, c. 322, §39 (NEW).]

   2. B. Investment mix and diversification;

      [PL 2003, c. 322, §39 (NEW).]

   3. C. Investment maturities; and

      [PL 2003, c. 322, §39 (NEW).]

   4. D. Delegation of authority to officers and committees responsible for administering the portfolio.

      [PL 2003, c. 322, §39 (NEW).]

   [PL 2003, c. 322, §39 (NEW).]

PL 1975, c. 500, §1 (NEW). PL 2003, c. 322, §39 (AMD).