Title XXXV, Banks and Banking; Loan Associations; Credit Unions

This article shall govern the organization of state banks. The commissioner may adopt rules relating to the forms and procedures related to the organization of state banks, amendment of their charters and the use of names under this article.

In the case of a state bank to be incorporated as a corporation, the organizer shall be the person or persons who will be the incorporator or incorporators of the corporation for purposes of the Corporation Act. In the case of a state bank to be organized as a limited liability c…

(a) A state bank may be organized as a corporation under the Corporation Act or as a limited liability company under the LLC Act. A depository bank organized as a corporation may elect benefit corporation status in accordance with the New Hampshire Benefit Corporation Act. (b) A …

(a) The organizational instrument shall comply with the requirements of the Corporation Act if the state bank is organized as a corporation or the LLC Act if the state bank is organized as a limited liability company. In addition to the information required by the applicable Orga…

(a) The organizer of a state bank shall apply for a charter by filing an application under RSA 383-A:6-602. The commissioner shall prescribe the form of the application. The form shall specify information required to process the application for the type of state bank to be organi…

For the purpose of any investigation or examination under RSA 383-A, RSA 383-B, RSA 383-C, and RSA 383-D, the commissioner shall have the power to subpoena witnesses and administer oaths in any adjudicative proceedings and the power to compel, by subpoena duces tecum, the product…

The commissioner may order within his or her discretion a public hearing on the application. The commissioner may approve or deny the application with or without a public hearing. Any required public hearing shall be held at the time and place fixed by the commissioner and a noti…

(a) If the commissioner determines that the application meets all of the requirements of this chapter and other applicable federal and state laws, then the commissioner shall grant a charter to the state bank by (i) issuing a notice of approval of the organization of the state ba…

Within 90 days after the grant of the charter, the organizer shall file with the secretary of state the executed organizational instrument bearing the commissioner's endorsement. The secretary of state, upon payment of a fee equal to the fee charged by the secretary of state to b…

Upon filing a state bank's charter under RSA 383-A:3-309, the secretary shall issue a certificate of organization in the following form: STATE OF NEW HAMPSHIRE Be it known, that whereas (the name or names of the organizer of the state bank) (has or have) the intention of forming …

Upon filing a state bank's charter under RSA 383-A:3-309, the secretary of state shall also cause a record of the certificate of organization to be made, and the certificate, or a record or a certified copy of the certificate, shall be conclusive evidence of the existence of the …

The existence of the state bank shall begin upon the filing of the organizational instrument with the secretary of state. Any state bank organized under this chapter shall complete its organization and obtain a certificate to engage in business under RSA 383-A:3-315 within 2 year…

(a) Following the approval of the application by the commissioner and the filing of the organizational instrument with the secretary of state, the organizer of a state bank shall hold the rights to the charter. (b) The organizer and all persons purporting to act as or on behalf o…

The organizer shall submit evidence to the commissioner that it has (i) adopted bylaws if a corporation or an operating agreement if an LLC, (ii) elected or caused to be elected, the directors and officers required by its organizational documents, and (iii) satisfied all other re…

Upon receipt of the information described in RSA 383-A:3-314, the commissioner shall cause an examination to be made. If the commissioner determines that all requirements of the approval have been satisfied, then the commissioner shall issue a certificate authorizing the state ba…

(a) Except as provided in subsection (b), a state bank that intends to amend its organizational instrument shall file with the commissioner an application to do so under RSA 383-A:6-602 and ask for approval of the amended organizational instrument based on the considerations set …

If the application for amendment of an organizational instrument of a state bank is approved by the commissioner, then the state bank shall file with the secretary of state the approved amendment, certified by the secretary of the state bank, with the approval of the commissioner…

If a board of directors of a depository bank proposes to make a material change in the business plan, capital plan, or other factors considered by the commissioner in granting a charter to the depository bank within 3 years of its receipt of a certificate to engage in business un…

(a) The applicable Organizations Act shall govern the internal affairs of state banks, except that, if there are any conflicts or inconsistencies under an Organizations Act with the provisions of the Banking Acts, the applicable provisions of the Banking Acts shall prevail. (b) E…

Any state bank that intends to use a name in the conduct of its business that differs from the name of the state bank shall be required to obtain the approval of the use of the name from the commissioner before registering the name with the secretary of state. The approval shall …

This article sets forth the capital, fidelity bond, and errors and omissions insurance requirements for state banks and credit unions. The commissioner shall have the power to adopt rules relating to the type and amount of capital, fidelity bond, and insurance to meet the require…

After it is organized, a state bank shall maintain a minimum level of capital required by the commissioner to operate in a safe and sound manner based upon his or her examination of the bank. The commissioner may require any state bank to increase its capital from time to time as…

For the purpose of strengthening its financial condition, subject to the approval of its board of directors, a state bank may receive contributions to its capital funds and in consideration for those funds may issue capital debentures to any person. The board of directors may not…

A state bank may redeem shares of its capital stock if (i) the redemption is conducted in accordance with the provisions of its organizational documents, (ii) the remaining capital exceeds the minimum capital required by this chapter, and (iii) the board of directors determines t…

(a) A state bank or credit union shall maintain a fidelity bond that provides protection against losses from (i) any dishonest or criminal act of any person, including any of its directors, officers, employees, and agents, and (ii) any act such as robbery, burglary, or forgery by…

(a) A state bank or credit union shall maintain a liability policy that insures against losses that any of its customers incurs by reason of the errors and omissions of the state bank or credit union or any of its directors, officers, employees, and agents. (b) Except as provided…

This article sets forth general provisions that apply to state banks and credit unions as specified and is supplemented by other provisions in the Banking Acts and the Credit Union Act. The commissioner shall have the power to adopt rules relating to the forms and procedures rela…

Each state bank and credit union shall have a board of directors elected or appointed in accordance with its organizational documents. No director shall serve on a board until he or she accepts his or her election or appointment in writing, which acceptance shall be maintained in…

Within 30 days after the acceptance by a director of a state bank or credit union of his or her election or appointment, the state bank or credit union shall notify the commissioner of the name and residence address of the director who was elected or appointed.

The board of directors of a state bank or credit union shall elect or appoint a president, a treasurer, a secretary, and the other officers as prescribed in its organizational documents. The officers shall be elected or appointed no less frequently than once every 3 years and sha…

(a) All of a state bank's powers shall be exercised by or under the authority of its board of directors, and the business and affairs of the state bank shall be managed by or under the direction, and subject to the oversight, of its board of directors, subject to any limitation s…

(a) Subject to its oversight and any limitation set forth in the organizational documents, the board of directors of a state bank may create one or more committees, delegate to each committee any powers and duties that the board of directors deems appropriate, and appoint one or …

(a) The board of directors of a state bank or credit union shall meet on a regular basis as often as necessary but not less than the minimum number of meetings required by applicable law. (b) Minutes of each meeting shall be kept, showing the names of the directors who are presen…

Unless the organizational documents of a state bank or credit union provide otherwise, any action to be taken at a meeting of the board of directors or committee may be taken without a meeting under and consistent with any provision of the applicable Organizations Act permitting …

(a) The board of directors of a state bank or credit union shall engage a certified public accountant, at least annually, to serve as its auditor and to perform an annual audit. Each state bank or credit union shall give notice to the commissioner of its engagement of an auditor …

(a) Each calendar year, each state bank or credit union shall balance its books at the close of business on the last business day in December and, within 30 calendar days thereafter, shall file with the commissioner an annual report. The annual report shall be signed by an author…

(a) A state bank or credit union shall provide the commissioner with a copy of all reports filed with any other regulatory authority at the time the report is filed. (b) A state bank or credit union shall file with the commissioner notice of the filing of reports required by the …

I. For the purposes of this section, the following words shall have the following meaning unless the context clearly indicates otherwise: (a) "Eligible adult" shall mean: (i) A person 65 years of age or older; or (ii) A person, 18 years of age or older, who is "vulnerable" as def…

(a) The purpose of this section is to maintain competitive equality between federally chartered and state-chartered institutions while providing for the safe and sound operation of state-chartered institutions. (b) Subject to any limitations set forth in the Depository Bank Act (…

This article applies to all persons who are (i) seeking to engage in an act or transaction under the Banking Acts or Credit Union Act that requires the prior review and approval by the commissioner, or (ii) required to provide notice to the commissioner under the Banking Acts or …

(a) A person seeking to engage in any act or transaction under the Banking Acts or the Credit Union Act, that requires the prior review of the commissioner shall submit a written application, as appropriate, with the commissioner. (b) A person required to provide notice to the co…

(a) The commissioner shall examine each application filed under RSA 383-A:6-602 to determine whether it complies with applicable filing requirements, including payment of any required fee. No later than 30 days after receipt of the filing by the commissioner, the application shal…

(a) Within 10 business days after receipt of a notice, the commissioner shall issue a written acknowledgment of receipt of the notice to the filer. (b) Within 60 days after the application is deemed substantially complete under RSA 383-A:6-603, the commissioner shall issue: (1) A…

At any time after any notice or application is determined to be substantially complete under RSA 383-A:6-603 and before the issuance of a final determination by the commissioner under RSA 383-A:6-604(b) or RSA 383-A:6-604(c), the commissioner may request the filer to provide addi…

If the time limits prescribed by this article conflict with specific time limits provided for by other provisions of RSA 383-A, RSA 383-B, RSA 383-C, RSA 383-D, or RSA 383-E, then the specific time limits provided for by the other provisions shall control.