Section 383-C:11-1105 – Domestication.
383-C:11-1105 Domestication. – (a) With the commissioner’s prior approval, a foreign trust company organized as a corporation or a limited liability company may become a trust company through domestication in accordance with the applicable Organization Act and this section. (b) A foreign trust company that proposes to domesticate shall file with the commissioner an […]
Section 383-C:12-1201 – Definitions.
383-C:12-1201 Definitions. – For purposes of this article, the following definitions shall apply: (a) " Limited-scope discretionary power " means discretionary power with respect to a trust if: (i) the terms of the trust confer simultaneous, discretionary authority on two or more persons; (ii) the power represents only a portion of the full range […]
Section 383-C:12-1202 – Qualified Trust Advisor Powers.
383-C:12-1202 Qualified Trust Advisor Powers. – (a) A qualified trust advisor that acts as a trust advisor or trust protector in this state, either by acting in such capacity from an office in this state or by acting in such capacity for a trust administered in this state, is not a bank and shall […]
Section 383-C:10-1003 – Voluntary Dissolution by Reorganization.
383-C:10-1003 Voluntary Dissolution by Reorganization. – A trust company that voluntarily dissolves by means of a reorganization into an entity that is not authorized to engage in trust business shall be subject to the provisions of this article and the procedures for a reorganization into the type of entity as set forth in the […]
Section 383-C:10-1004 – Application for Dissolution.
383-C:10-1004 Application for Dissolution. – (a) Before a trust company may dissolve its charter under RSA 383-C:10-1002 or RSA 383-C:10-1003, the trust company shall file with the commissioner an application for dissolution. (b) The application shall include a comprehensive plan of dissolution setting forth the proposed disposition of all assets and liabilities in reasonable […]
Section 383-C:8-803 – Application for Change of Control of Trust Company.
383-C:8-803 Application for Change of Control of Trust Company. – (a) Before consummation of any proposed change of control of a trust company, the trust company, either alone or with the acquirer or acquirers of control, shall file an application with the commissioner describing the proposed change of control of the trust company as […]
Section 383-C:8-804 – Commissioner Determination.
383-C:8-804 Commissioner Determination. – After receipt of an application under RSA 383-C:8-801, RSA 383-C:8-802, or RSA 383-C:8-803 that is deemed substantially complete under RSA 383-A:6-603, the commissioner shall make a determination under RSA 383-A:6-604. Source. 2015, 272:16, eff. Oct. 1, 2015.
Section 383-C:8-805 – Disapproval.
383-C:8-805 Disapproval. – (a) If the proposed change would adversely affect the safety and soundness of the trust company, then the commissioner may make a decision under RSA 383-A:6-604 to disapprove a proposed change to a capital plan or business plan, a proposed change of ownership of a trust company, or a proposed change […]
Section 383-C:8-806 – Internal Reorganization Not a Change in Ownership or Change in Control.
383-C:8-806 Internal Reorganization Not a Change in Ownership or Change in Control. – The acquisition or transfer of the equity or indirect ownership of a trust company between entities under common control that are affiliated with the trust company, so that, after giving effect to the acquisition or transfer, the ultimate, indirect ownership of […]
Section 383-C:8-807 – Interim Trust Company.
383-C:8-807 Interim Trust Company. – If an interim entity is formed solely for the purpose of effecting a change in control of any trust company that is authorized to conduct trust business under a valid charter, the interim entity shall not be obligated to obtain a charter or authority to transact business as a […]