383-C:14-1402 Exemption from Regular Examination. – (a) A trust company may apply for an exemption from one regular examination under RSA 383-C:14-1401 by filing with the commissioner an application for exemption. (b) In accordance with RSA 383-A:6-604, the commissioner shall make a determination as to whether the trust company qualifies for a conditional exemption […]
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 […]
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 […]
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.
383-C:3-303 No Bond. – Unless required by the order of a court with proper jurisdiction, no trust company authorized to act as trustee or executor in this state shall be required to give bond to secure performance of the trust company’s duties as trustee or executor. Source. 2015, 272:16, eff. Oct. 1, 2015.
383-C:3-304 Nominees. – Any trust company while acting in a fiduciary or custodial capacity, either alone or jointly with a person or persons, may cause any stock or other securities to be registered and held in the name of a nominee without mention of the fiduciary or custodial relationship. Source. 2015, 272:16, eff. Oct. […]
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 […]
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.
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 […]
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 […]
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 […]
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; […]
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 […]
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 […]
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 […]
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 […]
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 […]
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.
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 […]
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, […]
