Section 383-C:5-501 – Required Capital, Fidelity Bond, Liability Insurance Generally.
383-C:5-501 Required Capital, Fidelity Bond, Liability Insurance Generally. – A trust company shall maintain the level of capital required under RSA 383-C:5-502, a fidelity bond under RSA 383-A:4-405, an errors and omissions liability insurance policy under RSA 383-A:4-406, and a liquidation pledge under RSA 383-C:5-503. The commissioner shall consider a trust company’s safety and […]
Section 383-C:5-502 – Required Capital.
383-C:5-502 Required Capital. – (a) The minimum required capital of a trust company is $500,000. The commissioner may require a trust company to maintain required capital in excess of the minimum required capital. (b) After a trust company is granted authority to transact business, a trust company shall maintain capital consistent with the trust […]
Section 383-C:5-503 – Liquidation Pledge.
383-C:5-503 Liquidation Pledge. – (a) To defray the costs of liquidation of a trust company by the commissioner under RSA 395, a trust company shall pledge to the commissioner cash or securities in accordance with this section. In the event of a liquidation of a trust company under RSA 395 and without regard to […]
Section 383-C:1-101 – Short Title.
383-C:1-101 Short Title. – This chapter shall be known and may be cited as the "Trust Company Act." Source. 2015, 272:16, eff. Oct. 1, 2015.
Section 383-C:1-102 – Scope.
383-C:1-102 Scope. – This chapter applies to trust companies, foreign trust companies, and qualified trust advisors. A trust company is a nondepository state bank that engages in trust business and that is chartered under this chapter or prior law. Except as otherwise provided in this chapter, RSA 383-A applies to trust companies, foreign trust […]
Section 383-C:1-103 – Reservation of Power to Amend or Repeal.
383-C:1-103 Reservation of Power to Amend or Repeal. – The general court has power to amend or repeal all or part of this chapter at any time, and all persons subject to this chapter are governed by the amendment or repeal. Source. 2015, 272:16, eff. Oct. 1, 2015.
Section 383-C:1-104 – Commissioner.
383-C:1-104 Commissioner. – The commissioner shall have the powers necessary or incidental to performing all of the commissioner’s duties under this chapter, including the power to adopt rules as provided in this chapter in accordance with RSA 541-A. All rules previously adopted by the commissioner relating to the subject matter of this chapter shall […]
Section 383-C:2-201 – Definitions.
383-C:2-201 Definitions. – (a) Each term defined under RSA 383-A shall have the same meaning for purposes of this chapter. (b) For purposes of this chapter, the following definitions shall also apply: (1) " Change of ownership of a trust company " means the acquisition through a single transaction or a series of related […]
Section 383-C:3-301 – Trust Business Generally.
383-C:3-301 Trust Business Generally. – Consistent with a business plan and capital plan approved by the commissioner and for so long as it is authorized to transact business in this state and holds a valid charter as a trust company, a trust company shall have power: (a) To execute all the powers and possess […]
Section 383-C:3-302 – No Acceptance of Deposits.
383-C:3-302 No Acceptance of Deposits. – A trust company shall not have the power to accept deposits, and a trust company’s organizational instrument shall include a statement that the trust company does not have the power to accept deposits. Source. 2015, 272:16, eff. Oct. 1, 2015.