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

(a) A depositor at a mutual bank shall have an undivided inchoate interest in the net worth of the mutual bank in proportion to the amount of the person's funds in the account or accounts divided by the aggregate amount of all funds of persons on deposit in time, savings, and dem…

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.

Except as may be limited or otherwise required by applicable federal or state laws, and subject to its management duties as provided in RSA 383-B:6-604, the board of directors of a mutual bank or mutual holding company through its subsidiary bank or subsidiary banks may declare a…

(a) Any credit union may pay to each of the members of the board of directors, credit committee, and supervisory committee for his or her services as a member of the board or committee a sum that may, from time to time, be fixed by the members at an annual meeting. No officers, d…

(a) Any mutual bank or mutual holding company may convert to stock form in the same manner as prescribed for a federal savings bank or a federal mutual holding company under federal law. However, no conversion under this subsection shall be permitted that includes as part of the …

The commissioner's final determination under RSA 383-A:6-604 may be appealed under RSA 541.

A mutual bank may reorganize as a mutual holding company owning a subsidiary bank under a plan of reorganization, by taking or causing to be taken the following actions: (a) The mutual bank shall organize a wholly-owned subsidiary bank in accordance with the procedures of RSA 383…

[Paragraph (a) effective until October 1, 2026; see also paragraph (a) set out below.] (a) The commissioner shall charge a filing fee to each person for services rendered by the department in reviewing a notice or application. Sums collected under this section shall be payable to…

As an alternative to the procedure set forth in RSA 383-B:6-609, a mutual bank may reorganize into a mutual holding company structure under a plan of reorganization, by taking or causing to be taken the following actions: (a) The mutual bank shall organize a mutual holding compan…

The plan of reorganization shall be approved by the board of directors of the mutual bank by resolution adopted by a vote of 2/3 of the full board. The plan of reorganization shall then be submitted for adoption at a special meeting of the corporators of the mutual savings bank o…

A mutual bank that has adopted a plan of reorganization in accordance with RSA 383-B:6-611 shall apply to the commissioner for approval under RSA 383-A:6-602. The depository bank may complete the reorganization if it is permitted to do so by the commissioner under RSA 383-A:6-604…

A mutual bank that has obtained approval from the commissioner to complete the reorganization shall give its depositors written notice of the reorganization at least 30 days prior to the effective date of the reorganization. The notice shall include a brief description of the pla…

With the approval of the commissioner, the plan of reorganization of a mutual bank may provide for the retention of assets at, or transfer of assets to, the mutual holding company, provided the retention will not cause the subsidiary bank to fail to meet any applicable net worth …

(a) The commissioner may permit any newly created, wholly-owned subsidiary bank of a mutual holding company under RSA 383-B:6-609 to represent that it is a continuation of the operations of the mutual bank which was its organizer, provided such representation does not violate RSA…

(a) A mutual holding company organized under this article shall not be a capital stock corporation, shall not be subject to RSA 292, nor shall it be subject to RSA 293-A, except as is otherwise expressly provided in RSA 383-A with respect to banks. The net earnings and net worth …

The procedures for the organization of a subsidiary bank shall be as prescribed in RSA 383-A, except that: (a) The reorganizing mutual bank or mutual holding company may serve as the organizer of the subsidiary bank being formed and as the applicant seeking approval of its incorp…

The commissioner may require such reports from, and make such examinations of, each mutual holding company as he or she deems necessary to determine the true condition of the subsidiaries and affiliates thereof over which he or she has general supervision, the ability of the subs…

I. The annual salary of the commissioner, and that of the deputy commissioner, shall be that prescribed by RSA 94:1-4. The commissioner may appoint examiners and such assistants as may be necessary, within the limits of the appropriations therefor and the rules of the state perso…

A trust company may operate out of one or more trust offices and other offices located within the state or in any other state or jurisdiction consistent with the trust company's business plan.

A family trust company shall have the powers granted to a trust company under RSA 383-C, excluding the power to transact business with the general public. A family trust company shall not transact business with the general public.

This article sets forth the requirements for branching of depository banks in this state.

(a) It shall be unlawful for any person to willfully and maliciously, or with an intent to deceive, make or transmit to another any false statement concerning the financial condition of any state bank or credit union, or to induce another to make such a statement. Any person conv…

The annual meetings of the corporation shall be held at such time and place as the bylaws prescribe, but must be held within 120 days after the close of the fiscal year.

Special meetings of members may be called by a majority of the directors, or of the supervisory committee, and shall be called by the clerk upon written application of 10 percent of the members entitled to vote.

(a) Without the prior authorization of a bank or credit union, no person shall: (1) Use the full or abbreviated name, trade name, service mark, or trademark of any bank or credit union in any written, electronic, or oral advertisement or solicitation for products and services; (2…

No depository bank shall transact any part of its usual business of banking at any branch office except as follows: (a) Subject to RSA 383-B:7-702(b), a depository bank may establish one or more branch offices or acquire branch offices from any depository bank, national bank, fed…

(a) Subject to subsection (b), the commissioner may exempt a family trust company from any one or more requirements of RSA 383-A, RSA 383-C, and this chapter. (b) The commissioner shall not have the power to exempt a family trust company from any of the following requirements: (1…

Before opening or relocating a trust office, a trust company that has been transacting business for more than 3 years shall submit a notice to establish a trust office under RSA 383-A:6-602. During the first 3 years of transacting business, a company shall submit an application t…

No member shall be entitled to have more than one vote.

The commissioner may modify or revoke any exemption granted to a family trust company under RSA 383-D:7-702 if (i) the commissioner determines that, based upon the safety and soundness of the family trust company or any action that the family trust company has taken or proposes t…

In addition to the commissioner's authority under RSA 383-A:9, the insurance commissioner may issue a cease and desist order, as provided in RSA 400-A:10, against any person which engages in any act or conduct in violation of RSA 383-A:7-702 involving a state bank or credit union…

At least 10 days before closing a trust office, a trust company shall provide notice of the closure to the commissioner under RSA 383-A:6-602 and may proceed to close the trust office after filing the notice without further action by the commissioner.

(a) A depository bank may close a branch office upon the affirmative vote of a majority of its board of directors, but the closing shall not occur until the depository bank has filed notice of the branch office closing with the commissioner under RSA 383-A:6-602. The depository b…

The commissioner may enter into agreements with any regulatory authority having jurisdiction to examine out-of-state trust offices of trust companies. For those examinations, the cost shall be the same as that provided in RSA 383:11.

Any person that engages in any act or conduct in violation of this article shall be subject to the jurisdiction of this state. Nothing in RSA 383-A:7-702 or RSA 383-A:7-703 shall limit the authority of the New Hampshire secretary of state to enforce the laws under his or her juri…

At an annual or special meeting the members may review the acts of the credit committee or of the board of directors, and may reverse any decision of the committee or directors by a 75 percent vote of its members present and entitled to vote; provided, that the 75 percent vote co…

(a) Any action by a family trust company in its capacity as a trustee or other fiduciary shall not be void or voidable solely by reason of the entity transacting business with the general public. (b) To the extent that a family trust company transacts business with the general pu…

A depository bank and foreign bank that is authorized to make loans may engage in the business of loan production. A loan production office is any place of business located within this state at which the bank engages solely in activities relating to loan production. A loan produc…

(a) A depository bank may own and operate automated teller machines in any location within or without the state. An automated teller machine is not a branch. A depository bank is not required to file a notice or application with the commissioner to establish, own or operate an au…

In the event of the death or the resignation or removal from office of any member of the board of directors, or of the supervisory committee, the board of directors shall fill the vacancy until the next annual meeting, at which the unexpired term shall be filled by vote of the me…

Nothing herein shall be construed to make unlawful the continued operation of any branch office lawfully existing on October 1, 2015.

I. The commissioner may delegate to deputies, assistants, examiners, or employees of the department the exercise or discharge in the commissioner's name of any power, duty, or function, whether ministerial, discretionary or of whatever character, vested in or imposed upon the com…

The commissioner shall be provided with an office in some suitable place in Concord.

(a) Before the effective date of any material, proposed change to the business plan or the capital plan of a trust company, the trust company shall file an application with the commissioner describing the material, proposed amendment to its business plan or capital plan as requir…

(a) A family trust company shall have a board of directors, and that board of directors must have not less than three members. A director need not be a resident of New Hampshire or a citizen of the United States, unless otherwise required by the commissioner in consideration of t…