Section 387:18 Prudent Investments. - New Hampshire Statutes

Not exceeding 7 1/2 percent of the time and savings deposits of a savings bank or banking and trust company may be invested, subject to the limitations expressed in RSA 387:3, in securities which are not authorized investments under RSA 387:6 through 387:16 but which are prudent investments for such a bank to make, provided: (a) the bank making such investment shall have capital funds equal to 5 percent or more of its deposits, or equal to such lesser percentage of its deposits as the commissioner approves; and (b) the securities being purchased under the authorization of this section do not, when added to all other securities then owned by the bank, the purchase of which would not then be authorized by the other sections of this chapter, exceed 7 1/2 percent of its deposits.

Source. 1953, 195:1, par. 18. RSA 387:18. 1955, 214:12. 1963, 326:7. 1969, 411:3. 1975, 87:11. 1977, 317:2. 1979, 300:17. 1983, 369:8, eff. Aug. 20, 1983.