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:10-1001 – Authority to Dissolve.

    383-C:10-1001 Authority to Dissolve. – A trust company may voluntarily dissolve in the manner provided in this article. Upon dissolution under this section, a trust company shall surrender its trust company charter to the commissioner and shall not have authority to transact business as a state bank or to engage in trust business in […]

Section 383-C:10-1002 – Voluntary Dissolution by Liquidation.

    383-C:10-1002 Voluntary Dissolution by Liquidation. – A trust company that voluntarily dissolves by means of liquidation shall comply with the procedures for a voluntary dissolution set forth in the applicable the Organizational Acts, but any filing required by applicable law to be submitted to the secretary of state instead shall be submitted to the […]

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:10-1005 – Commissioner Determination.

    383-C:10-1005 Commissioner Determination. – After receipt of an application for dissolution under RSA 383-C:10-1004, the commissioner shall make a determination under RSA 383-A:6-604. Source. 2015, 272:16, eff. Oct. 1, 2015. 2017, 209:19, eff. Sept. 8, 2017.

Section 383-C:10-1006 – Completion of Plan of Dissolution.

    383-C:10-1006 Completion of Plan of Dissolution. – (a) Upon issuance of the commissioner’s decision approving a trust company’s application for dissolution, the trust company may dissolve in accordance with the terms of its application for dissolution and plan for dissolution. (b) Upon completion of all actions required under the plan for dissolution and compliance […]

Section 383-C:10-1007 – Procedure; Effect; Recording Fee.

    383-C:10-1007 Procedure; Effect; Recording Fee. – After the commissioner issues a certificate of dissolution under RSA 383-C:10-1006, the applicant shall file with the secretary of state the certificate of dissolution and shall pay to the secretary of state any filing a fee required by the applicable Organizations Act. In the case of a reorganization, […]

Section 383-C:11-1101 – Engagement in Trust Business.

    383-C:11-1101 Engagement in Trust Business. – (a) A foreign trust company may engage in trust business in this state. (b) A foreign trust company that engages in trust business in this state is subject to RSA 383-A and this chapter. Source. 2015, 272:16, eff. Oct. 1, 2015.

Section 383-C:11-1102 – Trust Office.

    383-C:11-1102 Trust Office. – (a) Before opening or relocating a trust office within this state, a foreign trust company shall submit notice to the commissioner describing the opening or relocation under RSA 383-A:6-602. A foreign trust company may only proceed with the opening or relocation of a trust office if permitted to do so […]

Section 383-C:11-1103 – Examination.

    383-C:11-1103 Examination. – (a) The commissioner may examine a foreign trust company’s trust offices either on-site or off-site for purposes of confirming the foreign trust company’s safety and soundness, including its compliance with applicable laws. (b) The commissioner may enter into a cooperative or information-sharing agreement with any regulatory authority having jurisdiction with respect […]

Section 383-C:11-1104 – Filings With the Secretary of State.

    383-C:11-1104 Filings With the Secretary of State. – (a) A foreign trust company shall file with the commissioner (i) a true and complete copy of each document that the foreign trust company submits for filing with this state’s secretary of state, and (ii) a copy of any notice or other document that the foreign […]

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:13-1301 – Reports and Other Filings.

    383-C:13-1301 Reports and Other Filings. – (a) A trust company shall file with the commissioner reports of condition as required under RSA 383-A:5-510 and copies of other documents as required under RSA 383-A:5-511. (b) A trust company shall, at the same time it files the annual report of condition pursuant to RSA 383-A:5-510, report […]

Section 383-C:14-1401 – Regular Examination.

    383-C:14-1401 Regular Examination. – I. Subject to RSA 383-C:14-1402, the commissioner shall examine the condition and management of a trust company every 18 months, or more often when necessary in his or her judgment. II. For trust companies that qualify under paragraph III, the commissioner may alternate every 18 months between conducting an examination […]