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:3-305 – Depositing Securities.
383-C:3-305 Depositing Securities. – 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 company shall […]
Section 383-C:3-306 – Denial of Charter.
383-C:3-306 Denial of Charter. – 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. Source. 2015, 272:16, eff. Oct. 1, 2015.
Section 383-C:3-307 – Trust Company Business Plan; Amendments to Business Plan.
383-C:3-307 Trust Company Business Plan; Amendments to Business Plan. – 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 company’s disaster recovery […]
Section 383-C:3-308 – Trust Company Capital Plan and Amendments to Capital Plan.
383-C:3-308 Trust Company Capital Plan and Amendments to Capital Plan. – 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 […]
Section 383-C:3-309 – Change to Approved Business Plan or Capital Plan.
383-C:3-309 Change to Approved Business Plan or Capital Plan. – 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 […]
Section 383-C:4-401 – Safety and Soundness.
383-C:4-401 Safety and Soundness. – For purposes of determining the safety or soundness of a trust company or any act that a trust company has taken or proposes to take, the commissioner shall consider the following factors: (a) The nature and type of fiduciary activities that the trust company conducts or proposes to conduct; […]
Section 383-C:4-402 – Consideration of Safety and Soundness of Trust Companies.
383-C:4-402 Consideration of Safety and Soundness of Trust Companies. – The commissioner shall consider the safety and soundness of a trust company and may make findings relative to a trust company’s safety and soundness: (i) when considering any application or notice submitted by a trust company or by any person proposing to be chartered […]