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 […]
Section 383-C:9-901 – Appointment of Conservator.
383-C:9-901 Appointment of Conservator. – If the commissioner determines that the business of any trust company is being conducted in an unsafe or unsound manner, then the commissioner may appoint a conservator for the trust company under RSA 396 who shall immediately take charge of the operation of the trust company for the purpose […]
Section 383-C:6-601 – Directors.
383-C:6-601 Directors. – (a) The board of directors of a trust company shall be composed of at least 5 directors. 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 the trust company’s safety and soundness. (b) Every […]
Section 383-C:6-602 – Board Meetings.
383-C:6-602 Board Meetings. – A trust company’s board of directors shall meet on a regular basis no less than once each calendar quarter or with greater frequency as the board determines is necessary or as the commissioner requires in consideration of the trust company’s safety and soundness. Source. 2015, 272:16, eff. Oct. 1, 2015.
Section 383-C:6-603 – Officers.
383-C:6-603 Officers. – (a) In the case of a trust company organized as a corporation, the trust company shall have a president, a treasurer, and a secretary and may appoint one or more other officers. (b) In the case of a trust company organized as a limited liability company, the trust company shall have […]
Section 383-C:6-604 – Removal of Directors or Officers by Commissioner.
383-C:6-604 Removal of Directors or Officers by Commissioner. – In addition to the grounds for removal set forth in RSA 383-A:9-902, the commissioner may also remove a director or officer of a trust company if, in the opinion of the commissioner, the director or officer does not possess the experience, ability, standing, competence, trustworthiness, […]
Section 383-C:7-701 – Offices Generally.
383-C:7-701 Offices Generally. – 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. Source. 2015, 272:16, eff. Oct. 1, 2015.
Section 383-C:7-702 – Opening or Relocation of Trust Office.
383-C:7-702 Opening or Relocation of Trust Office. – 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 […]
Section 383-C:7-703 – Trust Office Closure.
383-C:7-703 Trust Office Closure. – 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. Source. 2015, 272:16, eff. Oct. 1, 2015.