A. The board of directors has charge of the investment of credit union monies, except that the board may designate an investment committee or investment officer to make investments on its behalf, under written policies established by the board.

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Terms Used In Arizona Laws 6-576

  • Credit union: means a cooperative nonprofit association that is incorporated under this chapter for the purposes of encouraging thrift among its members and creating a source of credit and other financial services at fair and reasonable cost. See Arizona Laws 6-501

B. The board of directors shall designate a depository or depositories for the monies of the credit union.

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