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§412:9-410 - Deposits made by depository financial services loan companies.

     §412:9-410  Deposits made by depository financial services loan companies.  A depository financial services loan company may deposit any of its funds with:

     (1)  A Federal Reserve Bank or a Federal Home Loan Bank in any amount; or

     (2)  Another depository institution; provided that the deposits in any one depository institution do not exceed twenty-five per cent of the depository financial services loan company's capital and surplus, unless otherwise permitted by federal law. [L 1993, c 350, pt of §1; am L 1994, c 107, §17]

 

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