HRS §412:10-501
Rules for how credit unions must invest money
This section says a credit union must invest its money carefully and follow the law. The people in charge must act like a careful investor would, thinking about safety and income. The board of directors must write down the investment rules.
The statute, as written — General requirement for investments
(a) A credit union shall make investments that are consistent with prudent investment practices and in compliance with all applicable federal and state law. (b) The board of directors of a credit union and any other person charged with the responsibility of investing the credit union's assets shall exercise such reasonable diligence, discretion, judgment, and intelligence as would be expected of a prudent investor. Among other things, they shall not engage in speculative or unsound investments, and they shall at all times consider the probable safety as well as the probable income of the capital being invested. (c) The board of directors shall establish written investment policies.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.