Section 383-A:1-101 – Short Title.
383-A:1-101 Short Title. – This chapter shall be known and cited as the "Bank and Credit Union Act." Source. 2015, 272:16, eff. Oct. 1, 2015.
Section 383-A:1-102 – Scope.
383-A:1-102 Scope. – Articles 1, 2, 4, 5, 6, and 7 of this chapter apply to state banks and credit unions, except as otherwise expressly provided. Article 3 of this chapter applies only to state banks. In addition, depository banks are governed by RSA 383-B, trust companies are governed by RSA 383-C, family trust […]
Section 383-A:1-103 – Reservation of Power to Amend or Repeal.
383-A: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-A:1-104 – Commissioner.
383-A: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-A:2-201 – Definitions.
383-A:2-201 Definitions. – (a) For purposes of RSA 383, RSA 383-A, RSA 383-B, RSA 383-C, RSA 383-D, and RSA 383-E, the following definitions shall apply: (1) " Affiliate " shall have the same meaning as in 12 U.S.C. section 371c(b)(1), as amended from time to time. (2) " Association member " means a person […]
Section 383-A:3-301 – Organization of Banks.
383-A:3-301 Organization of Banks. – This article shall govern the organization of state banks. The commissioner may adopt rules relating to the forms and procedures related to the organization of state banks, amendment of their charters and the use of names under this article. Source. 2015, 272:16, eff. Oct. 1, 2015.
Section 383-A:3-302 – Organizer.
383-A:3-302 Organizer. – In the case of a state bank to be incorporated as a corporation, the organizer shall be the person or persons who will be the incorporator or incorporators of the corporation for purposes of the Corporation Act. In the case of a state bank to be organized as a limited liability […]
Section 383-A:3-303 – Type of Entity; Conversion.
383-A:3-303 Type of Entity; Conversion. – (a) A state bank may be organized as a corporation under the Corporation Act or as a limited liability company under the LLC Act. A depository bank organized as a corporation may elect benefit corporation status in accordance with the New Hampshire Benefit Corporation Act. (b) A state […]
Section 383-A:3-304 – Organizational Instrument; Name.
383-A:3-304 Organizational Instrument; Name. – (a) The organizational instrument shall comply with the requirements of the Corporation Act if the state bank is organized as a corporation or the LLC Act if the state bank is organized as a limited liability company. In addition to the information required by the applicable Organizations Act, the […]
Section 383-A:3-305 – Application.
383-A:3-305 Application. – (a) The organizer of a state bank shall apply for a charter by filing an application under RSA 383-A:6-602. The commissioner shall prescribe the form of the application. The form shall specify information required to process the application for the type of state bank to be organized. The information shall include: […]
Section 383-A:3-306 – Investigative Powers.
383-A:3-306 Investigative Powers. – For the purpose of any investigation or examination under RSA 383-A, RSA 383-B, RSA 383-C, and RSA 383-D, the commissioner shall have the power to subpoena witnesses and administer oaths in any adjudicative proceedings and the power to compel, by subpoena duces tecum, the production of all books, records, files, […]
Section 383-A:3-307 – Hearing.
383-A:3-307 Hearing. – The commissioner may order within his or her discretion a public hearing on the application. The commissioner may approve or deny the application with or without a public hearing. Any required public hearing shall be held at the time and place fixed by the commissioner and a notice of the hearing […]
Section 383-A:3-308 – Action on Application.
383-A:3-308 Action on Application. – (a) If the commissioner determines that the application meets all of the requirements of this chapter and other applicable federal and state laws, then the commissioner shall grant a charter to the state bank by (i) issuing a notice of approval of the organization of the state bank, subject […]
Section 383-A:3-309 – Record of Organizational Instrument.
383-A:3-309 Record of Organizational Instrument. – Within 90 days after the grant of the charter, the organizer shall file with the secretary of state the executed organizational instrument bearing the commissioner’s endorsement. The secretary of state, upon payment of a fee equal to the fee charged by the secretary of state to business corporations […]
Section 383-A:3-310 – Certificate of Organization.
383-A:3-310 Certificate of Organization. – Upon filing a state bank’s charter under RSA 383-A:3-309, the secretary shall issue a certificate of organization in the following form: STATE OF NEW HAMPSHIRE Be it known, that whereas (the name or names of the organizer of the state bank) (has or have) the intention of forming a […]
Section 383-A:3-311 – Certificate or Record as Evidence.
383-A:3-311 Certificate or Record as Evidence. – Upon filing a state bank’s charter under RSA 383-A:3-309, the secretary of state shall also cause a record of the certificate of organization to be made, and the certificate, or a record or a certified copy of the certificate, shall be conclusive evidence of the existence of […]
Section 383-A:3-312 – When Organized; Beginning Business.
383-A:3-312 When Organized; Beginning Business. – The existence of the state bank shall begin upon the filing of the organizational instrument with the secretary of state. Any state bank organized under this chapter shall complete its organization and obtain a certificate to engage in business under RSA 383-A:3-315 within 2 years from the date […]
Section 383-A:3-313 – Charter Rights; Liability.
383-A:3-313 Charter Rights; Liability. – (a) Following the approval of the application by the commissioner and the filing of the organizational instrument with the secretary of state, the organizer of a state bank shall hold the rights to the charter. (b) The organizer and all persons purporting to act as or on behalf of […]
Section 383-A:3-314 – Completion of Organization.
383-A:3-314 Completion of Organization. – The organizer shall submit evidence to the commissioner that it has (i) adopted bylaws if a corporation or an operating agreement if an LLC, (ii) elected or caused to be elected, the directors and officers required by its organizational documents, and (iii) satisfied all other requirements of the charter. […]
Section 383-A:3-315 – Authorizing Business.
383-A:3-315 Authorizing Business. – Upon receipt of the information described in RSA 383-A:3-314, the commissioner shall cause an examination to be made. If the commissioner determines that all requirements of the approval have been satisfied, then the commissioner shall issue a certificate authorizing the state bank to begin the transaction of business. The cost […]