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

There is hereby established a commission to study the creation of regulatory frameworks for stable tokens, tokenized real-world assets (RWAs), and blockchain-based trusts in New Hampshire. I. The commission shall study and make recommendations regarding the following: (a) The cur…

The governor, with the advice and consent of the council, may remove either the bank commissioner or a deputy bank commissioner at any time as provided for in RSA 4:1.

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.

Consistent with a business plan and capital plan approved by the commissioner and for so long as it is authorized to transact business in this state and holds a valid charter as a trust company, a trust company shall have power: (a) To execute all the powers and possess all the p…

A family trust company shall provide trust, investment, and other services only to family clients. A family trust company's organizational documents shall prohibit the family trust company from transacting business with the general public.

(a) A depository bank is authorized to solicit, receive, or accept deposits; to make loans; to engage in a trust business in the same manner as a trust company is permitted under RSA 383-C; and, in connection all of the foregoing, to provide services, offer products, and engage i…

Seven or more persons, resident in this state, who have associated themselves by an agreement in writing with the intention of organizing a corporation for the purpose of accumulating and investing the savings of its members and making loans to members for provident purposes, may…

A corporation organized under this chapter shall be known as a credit union, and its corporate name shall include the 2 words "credit union." Other distinguishing words may be used by permission of the commissioner.

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) For purposes of determining the safety or soundness of a family trust company or any act that a family trust company has taken or proposes to take, the following shall apply: (1) Subject to subsection (b), the commissioner shall consider the factors described in RSA 383-C:4-4…

A trust company shall not have the power to accept deposits, and a trust company's organizational instrument shall include a statement that the trust company does not have the power to accept deposits.

(a) A depository bank shall have a board of not less than 5 directors, of which a majority shall be residents of New Hampshire or a state that borders New Hampshire. (b) The board of directors of a depository bank shall meet on a regular basis as often as necessary but not less t…

Unless required by the order of a court with proper jurisdiction, no trust company authorized to act as trustee or executor in this state shall be required to give bond to secure performance of the trust company's duties as trustee or executor.

(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 …

Except associations heretofore incorporated, no person shall use a name or title containing the words "credit union" or any derivation thereof or be represented in the person's advertising or otherwise, as conducting business as a credit union, except a credit union organized und…

(a)(1) A depository bank shall at all times maintain a reserve in an amount that is not less than the minimum reserve required by the Federal Reserve System. (2) A depository bank may invest the balance of its banking assets (excluding assets held in a fiduciary capacity) in the …

(a) The organizer of a credit union 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. Such information shall include: the …

Any trust company while acting in a fiduciary or custodial capacity, either alone or jointly with a person or persons, may cause any stock or other securities to be registered and held in the name of a nominee without mention of the fiduciary or custodial relationship.

(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…

Any trust company while acting in a fiduciary capacity, or as an agent or custodian or any fiduciary acting for itself, is authorized to deposit or arrange for the deposit of securities with a bank or other regulated financial-service entity. At all time, the records of any trust…

(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 this chapter, the commissioner shall have the power to subpoena witnesses and administer oaths in any adjudicative proceedings, and to compel, by subpoena duces tecum, the production of all books, records, files, and other…

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…

No person shall be granted a charter to transact business as a trust company if the commissioner determines that the applicant for a charter will not conduct the proposed trust business by the applicant in a safe and sound manner.

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…

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, the commissioner shall grant a charter to the credit union by issuing a notice of approval of the organization of the credit union, s…

A trust company's board of directors shall adopt a business plan that specifies (i) the trust business and other business in which the trust company will engage, (ii) the trust company's management and operation structures, including information technology, (iii) the trust compan…

Following the approval of the application by the commissioner and the filing of the bylaws with the secretary of state, the organizer of a credit union shall hold the rights to the charter. The organizer and all persons purporting to act for the credit union shall be jointly and …

(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…

A trust company's board of directors shall adopt a capital plan that specifies (i) the amount of the trust company's capital, (ii) including its required capital, the quality, liquidity, and sources of the trust company's capital, (iii) the proposed investment of the trust compan…

No trust company shall engage in trust business that is materially different from, or inconsistent with, the business plan or capital plan approved by the commissioner. A trust company may effect a material amendment to the trust company's business plan or capital plan under RSA …

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…

The organizer shall submit evidence to the commissioner that it has adopted bylaws, elected, or caused to be elected, the directors and officers required by its organizational documents and satisfied all other requirements of the charter.

Upon receipt of the information described in RSA 383-E:3-309, the commissioner shall cause an examination to be made. If the commissioner determines that all requirements of the approval have been satisfied, the commissioner shall issue a certificate authorizing the credit union …

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 board of directors of a credit union may, by majority vote, amend the bylaws if the credit union files an application describing the proposed amendment under RSA 383-A:6-601 and it is permitted to do so by the commissioner based on the considerations set forth in RSA 383-E:3-…

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…

If a board of directors of a credit union proposes to make a material change in the strategic plan, funding plan or other factors considered by the commissioner in granting a charter to the credit union within 5 years of its receipt of a certificate to engage in business under RS…

(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…