3.__Written investment policy.__A credit union's board of directors shall establish a written investment policy, which must be reviewed and ratified at least annually, that addresses at a minimum the following:

A.__Investment quality parameters;

B.__Investment mix and diversification;

C.__Investment maturities; and

D.__Delegation of authority to officers and committees responsible for administering the portfolio.

Sec. 40. 9-B MRSA §862, sub-§1, as amended by PL 1985, c. 533, §1, is further amended to read:

1. Deposits in insured institutions. Deposits or share accounts in any financial institution, or shares in a credit union, provided that as long as deposits or shares in such the financial institution or credit union are insured by the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation or the National Credit Union Administration;

Sec. 41. 9-B MRSA §871, as amended by PL 1979, c. 429, §14, is repealed.

Sec. 42. 9-B MRSA §§871-A and 871-B are enacted to read:

§871-A.__Dissolution

1.__Voluntary dissolution.__This subsection governs the voluntary dissolution of a credit union.

A.__A recommendation may be made that a credit union be dissolved and voluntarily liquidated by majority vote of either the entire membership of the credit union entitled to vote or the board of directors of the credit union.__Within 10 days after recommendation, the credit union shall notify the superintendent, the federal agency that insures the credit union accounts and the credit union members in writing of the recommendation and the reasons for dissolution.__If the entire membership votes to dissolve and voluntarily liquidate the credit union, then no additional votes of the entire membership need be taken.__If the board of directors of the credit union votes to dissolve and voluntarily liquidate the credit union, then a special