NC H511

Expands acceptable depository institutions for holding escrow deposits, security deposits, and advance rental payments from insured banks and savings institutions to include any federally insured depository institution lawfully doing business in North Carolina.

Authorizes credit unions to invest capital, deposits, and reserve funds in higher education bonds that pledge the faith, credit, and taxing power of the State under G.S. 116D-2.

Allows credit union directors and committee members to be reimbursed for necessary and reasonable expenses incidental to official business, including payment of expenses for one guest.

Effective upon becoming law on June 19, 2015.