Investment of funds

(1) A credit union may invest or deposit its fundsfunds. (a) in any credit union, financial institution licensed under the Domestic Banks and Financial Institutions Act or an insurance company registered under the Insurance Act CAP. 263. CAP. 251. (b) in the shares or on the security of any cooperative or other credit union with limited liability; (c) in any securities issued or guaranteed by the Government of Belize; (d) in any stock, debentures, debenture stock funds or securities approved by the Government of Belize; Credit Unions Act 41 (e) in a Government Savings Bank. (2) The funds referred to in sub-section (1), shall be surplus funds remaining after the needs of members have been satisfied and income received from such investments shall form part of the general revenue of the credit union.