[An association library asks...]
A local bank that we have an account with has gone public. They sent information to invest in shares or stocks of the company. The opportunity to invest in our community was intriguing but we were not sure it would be legal since we are a non-profit. It would be affordable even as a small minimum amount and we had the funds to invest. We would not use money that was levied by taxes only unrestricted donations. Could we have invested in a bank, or a stock, share of a public company? We were not given much time so we are not investing at this point but would like to know for future reference. I contacted our investor that we have in other funds and they did not feel comfortable advising without legal input.
Thank you