KRS 286.6-585: Investments.

Funds not used in loans to members may be invested:

(1) In securities, obligations, or other instruments of or issued by or fully guaranteed as

to principal and interest by the United States of America or any agency thereof or in

any trust or trusts established for investing directly or collectively in the same;

(2) In obligations of any state of the United States, the District of Columbia, the

Commonwealth of Puerto Rico, and the several territories organized by Congress,

or any political subdivision thereof;

(3) In certificates of deposit or passbook -type accounts issued by a state or national

bank, mutual savings bank, or savings and loan association;

(4) (a) In loans, not to exceed twenty -five percent (25%) of capital at the lending

credit union, to; or

(b) In shares or deposits, not to exceed twenty percent (20%) of the capital of the

investing credit union, of other credit unions, central credit unions, corporate

credit unions, or a central liquidity facility established under state or federal

law;

(5) In shares, stocks, loans, or other obligations of any or ganization, corporation, or

association, provided the membership or ownership, as the case may be, of the

organization, corporation, or association is primarily confined or restricted to credit

unions, or organizations of credit unions, and provided furthe r the purpose for

which it is organized is to strengthen or advance the development of credit unions

or credit union organizations;

(6) In shares of a cooperative society organized under the laws of this state or of the

laws of the United States in the total amount not exceeding ten percent (10%) of the

shares, deposits, and surplus of the credit union;

(7) In stocks and bonds of corporations organized in any state of the United States, the

District of Columbia, the Commonwealth of Puerto Rico and the sever al territories

organized by Congress to an aggregate maximum of five percent (5%) of members'

shares in stocks and an aggregate maximum of five percent (5%) of members'

shares in bonds, provided that investments shall be limited to stocks or bonds which

appear on a list approved by the commissioner and published quarterly or annually,

the list to include not less than thirty (30) corporations.