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

The commissioner shall not receive any extra compensation for his services.

The compensation of any agents, counsel, employees and assistants, and all expenses of supervision and liquidation, shall be fixed by the commissioner, subject to the approval of the court, and on notice to such institution, and upon the certificate of the commissioner, shall be …

The commissioner shall cause to be published weekly for 3 consecutive months, in such newspapers as he may direct, a notice calling on all persons who may have claims against such institution to present the same to the commissioner and to make legal proof thereof at a place and t…

If the commissioner doubts the justice and validity of any claim he may reject the same and serve notice of such rejection upon the claimant either by mail or in person. An affidavit of service of such notice, which shall be prima facie evidence thereof, shall be filed with the c…

An action upon the claim so rejected shall not be entertained unless brought within 6 months after such service.

Claims presented after the expiration of the time specified in the notice to creditors shall be entitled to share in the distribution only to the extent of the assets in the hands of the commissioner equitably applicable thereto.

Upon the expiration of the time fixed for the presentation of claims, the commissioner shall make in duplicate a full and complete list of the claims presented, including and specifying such claims as have been rejected by him. One of the said lists shall be filed in the office o…

Thereafter the commissioner shall make and file in said offices, at least 15 days before every application to the court for leave to declare a dividend, a supplementary list of the claims presented since the last preceding list was filed, including and specifying such claims as h…

At any time after the expiration of the date fixed for the presentation of claims, upon application of the commissioner, the court may authorize: I. Any person who holds a perfected security interest or a mortgage lien in assets of the insolvent or closed New Hampshire depository…

The court may issue an injunction prohibiting, as far as may be thought necessary, the transaction of any business of said institution and the commissioner shall cause the same to be served. Any justice of the superior court, upon petition and notice to the commissioner, may diss…

In the absence of an express written agreement to the contrary, any person paying to the depositor of a bank closed or in liquidation under this chapter or in any manner, a part or the whole of his deposit therein shall be subrogated to the rights of such depositor to receive div…

Objections to any claim not rejected by the commissioner may be made by any person interested by filing a copy of such objections with the commissioner, who shall present the same to the court at the time of the next application for permission to declare a dividend. The court to …

Whenever any institution of whose property and business the commissioner takes possession as aforesaid deems itself aggrieved thereby, it may at any time within 10 days thereafter apply to the court to discontinue further proceedings; and the court, after notice to the commission…

Whenever it appears to the commissioner advisable, or upon the petition of the trustees or directors of the institution, he may, with the approval of a justice of the superior court, reduce pro rata the deposit account of each depositor therein, whenever the value of its assets i…

If the bank shall realize from the assets a greater sum than was so fixed upon the court shall order such excess to be equitably divided among the depositors whose accounts have been reduced, but to the extent of such reduction only.

If any institution whose deposit accounts have been reduced under the provisions of this chapter shall afterward receive new deposits it shall keep its accounts, and in all respects conduct its business relating to such new deposits, as if it were a separate institution, distinct…

Notwithstanding any provision of RSA 395:27, 28 or 29 to the contrary, any deposit account in any institution, the deposits of which are insured by the Federal Deposit Insurance Corporation, or any other agency or instrumentality of the United States of America, may not be reduce…

Such institutions may, with the consent of the commissioner, resume business upon such conditions as the commissioner may approve.

Payments of dividends under RSA 395:19 and any other proceeds of the property of a closed or insolvent New Hampshire depository institution shall be distributed according to the decree of the court in the following priority: I. The payment of the costs and expenses of the liquida…

The commissioner shall incorporate in his annual report a statement showing the condition of any institution in his possession.

Records and papers preserved in the office of the bank commissioner and concerned with the liquidation of a bank, as provided for in this chapter, may be destroyed at the end of 10 years after such liquidation proceedings have been completed.

Whenever it appears to the commissioner that any institution to which this chapter applies reflects negative equity capital, as determined by the most recent report of examination conducted by the banking department or a federal deposit insuring agency, the commissioner may repre…

Upon taking possession of the property and business of any institution to which this chapter applies, the commissioner shall have authority to collect money due the institution and to do such other acts as are necessary to conserve its assets and business. He shall collect all de…

The commissioner shall make an inventory of the assets of the institution in duplicate, one to be filed in the office of the commissioner, and one in the office of the clerk of the superior court for the county in which the principal office of the institution is located.

The commissioner shall give notice of the fact that he has taken possession of the property and business of the institution to any and all banks, trust companies, associations and individuals holding or having possession of any assets of such institution.

No bank, trust company, association or individual, knowing that the commissioner has taken such possession, or having been notified thereof as aforesaid, shall have a lien or charge for any payment, advance or clearance thereafter made, or liability thereafter incurred, against a…

For the purpose of executing and performing the powers and duties hereby conferred upon him, the commissioner may, in the name of any such institution, prosecute and defend any legal proceedings, and may in the name of the institution execute, acknowledge and deliver any instrume…