383-E:13-1308 Participation in Central System. – The corporate credit union may enter into agreements for the purpose of participation in any state or federal central liquidity facility or central financial system for credit unions, and for the purpose of aiding credit unions in establishing concentrated lines of credit with other financial entities, and may […]
383-E:13-1309 Right of Set-Off; Security Interest. – The corporate credit union shall have a right of immediate set-off against the balances of the share and deposit accounts of each member for any amounts due from the member to the corporate credit union. (a) The corporate credit union shall have a lien on all share […]
383-E:13-1310 Meetings. – The board of directors of a corporate credit union shall meet at least every 90 days in person or by means of telephone, as provided in the bylaws. The annual meeting of the members of the corporate credit union shall be held at such time as is prescribed in the bylaws. […]
383-E:13-1311 Fees. – The operating fees established by the commissioner under RSA 383:11 shall make allowances for the special purposes and operations of a corporate credit union. Source. 2015, 272:16, eff. Oct. 1, 2015.
383-E:13-1312 Reserves. – A corporate credit union shall be exempt from the regular reserve requirements of RSA 383-E:8-801 but shall be required to establish and maintain an equity reserve to meet losses, in accordance with rules adopted by the commissioner, under RSA 541-A. Source. 2015, 272:16. 2016, 230:6, eff. Aug. 8, 2016.
383-E:13-1313 Exemptions. – The corporate credit union shall be exempt from the securities laws of New Hampshire. Source. 2015, 272:16, eff. Oct. 1, 2015.
383-E: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 apply: (1) " Branch office " means a place or location, other than its main office, at which a credit union receives the money of […]
383-E:3-301 Agreement; Bylaws. – Seven or more persons, resident in this state, who have associated themselves by an agreement in writing with the intention of organizing a corporation for the purpose of accumulating and investing the savings of its members and making loans to members for provident purposes, may apply to the commissioner under […]
383-E:3-302 Name. – A corporation organized under this chapter shall be known as a credit union, and its corporate name shall include the 2 words "credit union." Other distinguishing words may be used by permission of the commissioner. Source. 2015, 272:16, eff. Oct. 1, 2015.
383-E:3-303 Limitation on Use of Words "Credit Union." – Except associations heretofore incorporated, no person shall use a name or title containing the words "credit union" or any derivation thereof or be represented in the person’s advertising or otherwise, as conducting business as a credit union, except a credit union organized under the provisions […]
383-E:3-304 Application. – (a) The organizer of a credit union 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. Such information shall include: the name of the credit union; the address of […]
383-E:3-305 Investigative Powers. – For the purpose of any investigation or examination under this chapter, the commissioner shall have the power to subpoena witnesses and administer oaths in any adjudicative proceedings, and to compel, by subpoena duces tecum, the production of all books, records, files, and other documents and materials relevant to his or […]
383-E:3-306 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 […]
383-E:3-307 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, the commissioner shall grant a charter to the credit union by issuing a notice of approval of the organization of the credit union, subject to such […]
383-E:3-308 Charter Rights; Liability. – Following the approval of the application by the commissioner and the filing of the bylaws with the secretary of state, the organizer of a credit union shall hold the rights to the charter. The organizer and all persons purporting to act for the credit union shall be jointly and […]
383-E:3-309 Completion of Organization. – The organizer shall submit evidence to the commissioner that it has adopted bylaws, elected, or caused to be elected, the directors and officers required by its organizational documents and satisfied all other requirements of the charter. Source. 2015, 272:16, eff. Oct. 1, 2015.
383-E:3-310 Authorizing Commencement of Operations. – Upon receipt of the information described in RSA 383-E:3-309, the commissioner shall cause an examination to be made. If the commissioner determines that all requirements of the approval have been satisfied, the commissioner shall issue a certificate authorizing the credit union to commence operations. The cost of such […]
383-E:3-311 Amendment of Bylaws. – The board of directors of a credit union may, by majority vote, amend the bylaws if the credit union files an application describing the proposed amendment under RSA 383-A:6-601 and it is permitted to do so by the commissioner based on the considerations set forth in RSA 383-E:3-301, as […]
383-E:3-312 Material Change in Operating Conditions. – If a board of directors of a credit union proposes to make a material change in the strategic plan, funding plan or other factors considered by the commissioner in granting a charter to the credit union within 5 years of its receipt of a certificate to engage […]
383-E:4-401 Deposits; Loans. – A credit union may receive the money of its members on deposit and in payment of shares, upon such terms and in such amounts as its board of directors may prescribe. It may make loans to its members on such terms and upon such security, real or personal, as its […]
