Discretionary control over investments.

13-03-22-08. Discretionary control over investments. A credit union must retain discretionary control over its purchase and sale of investments. A credit union has not delegated discretionary control to an investment adviser when the credit union reviews all recommendations from investment advisers and is required to authorize a recommended purchase or sale transaction before its execution. History: Effective January 1, 2007. General Authority: NDCC 6-01-04 Law Implemented: NDCC 6-06-06