HOUSE DOCKET, NO. 3859        FILED ON: 1/16/2009

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 4483

The Commonwealth of Massachusetts

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In the Year Two Thousand Nine

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An Act relative to the investment powers of the Massachusetts Credit Union Share Insurance Corporation..

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

Section 1(12) of Chapter 294 of the Acts of 1961,  as most recently amended by St.2004, c. 168, Section 7, is hereby amended by  deleting the last sentence of part (12) (p) and inserting in place thereof the following:

The limitations imposed by this paragraph shall not apply to an aggregate investment of not in excess of the applicable federal deposit insurance limit in a deposit of a banking corporation, the deposits of which banking corporation are insured by the Federal Deposit Insurance Corporation.