383-A:3-316 Amendment of Organizational Instrument. – (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 forth in RSA 383-A:3-305(d), […]
383-A:3-317 Procedure for Filing Amended Organizational Instrument; Effect. – 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 […]
383-A:3-318 Material Change in Operating Conditions. – 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 5 years of its receipt of a certificate to engage […]
383-A:3-319 Rules of Construction; Procedural Requirements Regarding Filings. – (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) Except as […]
383-A:3-320 Names Relating to State Banks. – 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 […]
383-A:4-401 Capital, Fidelity Bond, and Insurance Requirements. – 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 requirements of […]
383-A:4-402 Capital Maintenance. – 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 […]
383-A:4-403 Capital Debentures. – 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 issue the capital debentures […]
383-A:4-404 Redemption of Shares. – 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 that the redemption will not […]
383-A:4-405 Fidelity Bond. – (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 person not […]
383-A:4-406 Errors and Omissions Liability Insurance. – (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 […]
383-A:5-501 Management and Operations. – 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 related to filings […]
383-A:5-502 Board of Directors. – 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 the records […]
383-A:5-503 Notice of Election. – 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. Source. 2015, […]
383-A:5-504 Officers. – 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 shall hold office subject […]
383-A:5-505 Responsibilities of Directors and Officers of State Banks. – (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 […]
383-A:5-506 Committees. – (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 more directors, officers, and […]
383-A:5-507 Meetings; Records. – (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 […]
383-A:5-508 Action Without Meeting. – 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 the action. Source. […]
383-A:5-509 Annual Audits; Reports. – (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 […]
