Credit Union Investment Authority Act

Section 107(7) of the Federal Credit Union Act (12 U.S.C. 1757) is amended by striking general obligations of the issuer) and inserting general obligations of the issuer); (L) in the marketable obligations, bonds, notes, or other instruments of indebtedness of any agency, association, or company whose membership or ownership is not restricted to Federal credit unions and the members of credit unions or organizations of credit unions and that is not designed primarily to serve or otherwise assist credit union operations, except that no credit union may invest more than 10 per centum of its paid-in unimpaired capital and surplus in the obligations of any one issuer.