reglab/housing_qa huggingface dataset:
NH Rev Stat § 383-D:4-404 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:4-404 - Former Key Employee.

    383-D:4-404 Former Key Employee. –||(a) After an individual becomes a former key employee, that individual does not qualify as a former key employee with respect to any new trust, investment, or other service, except as otherwise provided in subsection (b).||(b) An individual is a former key employee only to the extent of (i) trust, investment, or other services that the family trust company was providing to that individual (or an eligible trust of which the individual or the individual's spouse was a settlor) immediately before the individual became a former key employee and (ii) any trust, investment, or other service in connection with any additional investments that, with respect to an investment that the family trust company advises or manages, the individual (or an eligible trust of which the individual or the individual's spouse was a settlor) was contractually obligated to make before the individual became a former key employee.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:4-405 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:4-405 - Eligible Trust.

    383-D:4-405 Eligible Trust. –||A trust is not an eligible trust if the commissioner determines that the trust was formed or is administered for the primary purpose of evading the limitations of this chapter.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:4-406 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:4-406 - Family Entity.

    383-D:4-406 Family Entity. –||An entity is not a family client if the commissioner determines that the entity was organized or is operated for the primary purpose of evading the limitations of this chapter.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:4-407 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:4-407 - Family Charitable Organization.

    383-D:4-407 Family Charitable Organization. –||A charitable organization is not a family client if the commissioner determines that it was organized or is operated for the primary purpose of evading the limitations of this chapter.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:5-501 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:5-501 - General.

    383-D:5-501 General. –||Except as otherwise provided in this chapter, a family trust company shall be organized in accordance with RSA 383-A.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:5-501A (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:5-501A - Type of Entity.

    383-D:5-501A Type of Entity. –||(a) A family trust company may be organized as:||(1) A corporation under the Corporation Act;||(2) A limited liability company under the LLC Act; or||(3) A foundation under RSA 564-F.||(b) RSA 383-A:3-303(a) shall not apply to family trust companies.|||Source. 2017, 257:41, eff. Oct. 1, 2017.|
NH Rev Stat § 383-D:5-502 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:5-502 - Application.

    383-D:5-502 Application. –||In addition to any other information that the application may or must contain under RSA 383-A:3-305, the application shall include (i) the designated relative's name and date of birth and (ii) any request for exemption under RSA 383-D:7-702. For purposes of determining family members, the application may include an election to use the alternate method described in RSA 383-D:4-402(b). Unless the application includes that election or the family trust company elects the alternate method in accordance with RSA 383-D:10-1003, the method described in RSA 383-D:4-402(a) shall apply.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:5-503 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:5-503 - Review of Application.

    383-D:5-503 Review of Application. –||(a) In considering whether to approve or deny an application for a family trust company charter, the commissioner shall consider the trust company's safety and soundness in accordance with RSA 383-D:3-302.||(b) During the course of his or her review of an application, the commissioner may propose that the organizer amend or supplement the application for purposes of ensuring that the family trust company meets the requirements of a family trust company under this chapter, RSA 383-A, and RSA 383-C and ensuring the family trust company's safety and soundness. The organizer may amend or supplement the application in accordance with the commissioner's proposal.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:5-504 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:5-504 - Exemptions From Public Notice and Hearing.

    383-D:5-504 Exemptions From Public Notice and Hearing. –||(a) The organizer of a family trust company is exempt from publishing any notice of their application for a family trust company charter. RSA 383-A:3-305(b)(2) shall not apply to the organizer of a family trust company.||(b) The commissioner shall not order a hearing in connection with any application for a family trust company charter. RSA 383-A:3-307 shall not apply to the organizer of a family trust company.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:5-505 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:5-505 - Action on Application.

    383-D:5-505 Action on Application. –||Upon the completion of his or her review of the application, the commissioner shall issue a notice of decision and a charter in accordance with RSA 383-A:3-308(a) or a notice of denial in accordance with RSA 383-A:3-308(b). If the commissioner approves the application, then, in addition to the information that the notice must include under RSA 383-A:3-308(a), the notice of decision shall include a statement specifying each exemption granted or denied.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:5-506 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:5-506 - Conversion Into a Trust Company.

    383-D:5-506 Conversion Into a Trust Company. –||A family trust company may apply to convert to a trust company that is authorized to transact business with the general public by filing an application for a trust company charter in accordance with article 3 of RSA 383-A. RSA 383-A and RSA 383-C shall govern the application, and this chapter shall not apply to the application. The conversion shall be effective upon the issuance of a certificate authority granting the entity the authority to transact trust business, including transacting business with the general public. Upon the conversion's effective date, the entity shall cease to be a family trust company, and any exemptions granted under this chapter shall terminate.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:6-601 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:6-601 - General.

    383-D:6-601 General. –||A family trust company shall maintain the required capital under RSA 383-D:6-602, a fidelity bond under RSA 383-A:4-405, and an errors and omissions liability insurance policy under RSA 383-A:4-406. For purposes of determining the appropriate amounts of required capital, fidelity bond coverage, and errors and omissions liability insurance coverage, the commissioner shall consider the family trust company's safety and soundness and shall give primary consideration to the liability insurance coverage, which provides the primary protections for a family trust company's family clients. In addition to the requirements in RSA 383-A:4-405 and RSA 383-A:4-406, any insurance deductible shall be reasonable and shall not jeopardize the safe and sound operation of the family trust company. RSA 383-C:5-501 shall not apply to family trust companies.|||Source. 2015, 272:16, eff. Oct. 1, 2015. 2019, 169:15, eff. Sept. 8, 2019.|
NH Rev Stat § 383-D:6-602 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:6-602 - Required Capital.

    383-D:6-602 Required Capital. –||(a) The minimum required capital of a family trust company is $200,000. The commissioner may require a family trust company to maintain additional capital. From time to time, the commissioner may reduce or increase the amount of additional capital that a family trust company is required to maintain.||(b) After it obtains the authority to exercise trust powers, a family trust company shall maintain an amount of capital that equals or exceeds the required capital.||(c) A family trust company shall not make any distribution to the extent that, upon making the distribution, the family trust company's total capital would be less than the required capital.||(d) For purposes of subsection (c), "distribution" means a direct or indirect transfer of money or other property (except an equity interest in the family trust company) to or for the benefit of family trust company's equity owners in respect of any of equity interests in the family trust company.||(e) RSA 383-C:5-502(a) and (b) shall not apply to family trust companies.|||Source. 2015, 272:16, eff. Oct. 1, 2015. 2017, 257:42, eff. Sept. 16, 2017.|
NH Rev Stat § 383-D:6-603 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:6-603 - Liquidation Pledge.

    383-D:6-603 Liquidation Pledge. –||A family trust company is exempt from RSA 383-C:5-503.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:7-701 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:7-701 - Powers.

    383-D:7-701 Powers. –||A family trust company shall have the powers granted to a trust company under RSA 383-C, excluding the power to transact business with the general public. A family trust company shall not transact business with the general public.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:7-702 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:7-702 - Grant of Exemptions.

    383-D:7-702 Grant of Exemptions. –||(a) Subject to subsection (b), the commissioner may exempt a family trust company from any one or more requirements of RSA 383-A, RSA 383-C, and this chapter.||(b) The commissioner shall not have the power to exempt a family trust company from any of the following requirements:||(1) the qualifications of a family trust company under RSA 383-D:3-301;||(2) the requirements for organization under article 5 of this chapter;||(3) the requirement to maintain capital that equals or exceeds the minimum required capital under RSA 383-D:6-602;||(4) the requirement to maintain an errors and omissions liability insurance policy under RSA 383-A:4-406; and||(5) the prohibition against accepting deposits under RSA 383-C:3-302.||(c) In the application under RSA 383-D:5-502, a family trust company's organizer may request one or more exemptions. After obtaining its certificate of authority to exercise trust powers, a family trust company may request one or more exemptions by filing with the commissioner an application for exemption.||(d) The commissioner may grant or deny, in whole or in part, any requested exemption, and the commissioner may impose one or more reasonable conditions or limitations on any exemption that the commissioner grants.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:7-703 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:7-703 - Modification or Revocation of Exemptions.

    383-D:7-703 Modification or Revocation of Exemptions. –||The commissioner may modify or revoke any exemption granted to a family trust company under RSA 383-D:7-702 if (i) the commissioner determines that, based upon the safety and soundness of the family trust company or any action that the family trust company has taken or proposes to take, modification or revocation is necessary or advisable or (ii) the family trust company fails to comply with this chapter or any other applicable laws. A modification of an exemption includes the imposition of one or more reasonable conditions or limitations on that exemption.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:7-704 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:7-704 - Effects of Transacting Business with the General Public.

    383-D:7-704 Effects of Transacting Business with the General Public. –||(a) Any action by a family trust company in its capacity as a trustee or other fiduciary shall not be void or voidable solely by reason of the entity transacting business with the general public.||(b) To the extent that a family trust company transacts business with the general public, each of its directors and executive officers shall be personally, jointly, and severally liable for all liabilities created by transacting business with the general public, including any breach of a fiduciary duty to a member of the general public.||(c) The directors' and officers' liability under subsection (b) is in addition to any civil or criminal penalties imposed by this title or other applicable law.||(d) This section shall not limit the commissioner's enforcement powers under this title or any other applicable law, including the power to order restitution for a violation of this title and other applicable laws and each of the other powers under RSA 383:10-d.|||Source. 2017, 257:43, eff. July 18, 2017.|
NH Rev Stat § 383-D:8-801 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:8-801 - Board of Directors.

    383-D:8-801 Board of Directors. –||(a) A family trust company shall have a board of directors, and that board of directors must have not less than three members. 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 family trust company's safety and soundness. RSA 383-C:6-601(a) shall not apply to family trust companies.||(b) Subject to any limitations set forth in its organizational documents, this chapter, and RSA 383-C, all of the family trust company's powers shall be exercised by or under the authority of the family trust company's board of directors.|||Source. 2015, 272:16, eff. Oct. 1, 2015. 2021, 194:19, eff. Oct. 9, 2021.|
NH Rev Stat § 383-D:8-802 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:8-802 - Standard of Care.

    383-D:8-802 Standard of Care. –||(a) Except as provided in subsections (b) and (c), RSA 383-A:5-505 applies to a director or officer of a family trust company.||(b) A director or officer of a family trust company shall not be personally liable to any person to the extent that, in the performance of his or her duties, the director or officer acts in good faith. In connection with any matter involving a trust, a director or officer acts in good faith to the extent that he or she acts in reasonable reliance on the terms of the trust, a nonjudicial settlement agreement under RSA 564-B:1-111, or a court order.||(c) A family trust company may indemnify a director or officer against any liability, except to the extent that a court determines that the director or officer failed to act in good faith.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:9-901 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:9-901 - Trust Offices.

    383-D:9-901 Trust Offices. –||In accordance with RSA 383-C:7-701 through RSA 383-C:7-703, a family trust company may open, close, or relocate any trust office at which it exercises trust powers or otherwise transacts business.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:10-1001 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:10-1001 - Reports and Certification.

    383-D:10-1001 Reports and Certification. –||(a) In addition to filing an annual report in accordance with RSA 383-A:5-510(a), a family trust company shall file with the commissioner an annual certification certifying that the family trust company is in compliance with:||(1) the provisions of this chapter; and||(2) the conditions and limitations of all exemptions granted by the commissioner under RSA 383-D:7-702.||(b) In its annual certification, a family trust company may change its designated relative in accordance with RSA 383-D:10-1002.||(c) A family trust company's annual certification is due on the same day as its annual report.||(d) A family trust company shall file quarterly reports in accordance with RSA 383-A:5-510, and it shall file copies of other documents as required under RSA 383-A:5-511.||(e) A family trust company shall, at the same time it files the annual report of condition pursuant to RSA 383-A:5-510, report to the commissioner the work address and other contact information where each executive officer of the family trust company conducts trust business and the residential address of all directors, which information shall be kept confidential by commissioner pursuant to RSA 383:10-b.||(f) A family trust company shall have a continuing obligation to update the information reported pursuant to subsection (e) within 30 days of any change.||(g) A family trust company failing to report the information required pursuant to subsections (e) and (f) within the prescribed time period shall pay to the commissioner a penalty of $50 for each day such a report is overdue.|||Source. 2015, 272:16, eff. Oct. 1, 2015. 2017, 209:4, eff. Sept. 8, 2017; 257:44, eff. Sept. 8, 2017 at 12:01 a.m. 2019, 169:16, eff. Sept. 8, 2019.|
NH Rev Stat § 383-D:10-1002 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:10-1002 - Change of Designated Relative.

    383-D:10-1002 Change of Designated Relative. –||(a) A family trust company may change its designated relative by filing with the commissioner notice in which the family trust company designates a new designated relative.||(b) Except with the commissioner's prior approval, a family trust company cannot change its designated relative more than once every 10 years after the issuance of its certificate of authority.||(c) Except with the commissioner's prior approval, the change of a family trust company's designated relative is effective on January 1 of the year after in which the family trust company files its notice with the commissioner.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:10-1003 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:10-1003 - Change of Method of Determining Family Members.

    383-D:10-1003 Change of Method of Determining Family Members. –||(a) For purposes of determining family members, a family trust company may elect to use the method described in RSA 383-D:4-402(a) or the alternate method described in RSA 383-D:4-402(b). The family trust company may change its election by filing with the commissioner a notice of the change.||(b) Except with the commissioner's prior approval, a family trust company cannot change its election more than once every 10 years after the issuance of its certificate of authority.||(c) Except with the commissioner's prior approval, the new method is effective on January 1 of the year after which the family trust company files its notice with the commissioner.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:10-1004 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:10-1004 - Exemption From Public Hearings.

    383-D:10-1004 Exemption From Public Hearings. –||In connection with any matter subject to the procedural rules under article 6 of RSA 383-A, the commissioner shall not order a public hearing. To the extent that RSA 383-A:6-604 authorizes the commissioner to hold a public hearing, RSA 383-A:6-604 shall not apply to a family trust company.|||Source. 2015, 272:16, eff. Oct. 1, 2015.|
NH Rev Stat § 383-D:10-1005 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:10-1005 - Exemption from Annual Audits.

    383-D:10-1005 Exemption from Annual Audits. –||(a) A family trust company may apply for an exemption from RSA 383-A:5-509 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 to grant to the family trust company an exemption from RSA 383-A:5-509.||(c) In determining whether to grant an exemption from RSA 383-A:5-509, the commissioner shall consider whether:||(1) The family trust company can maintain its safety and soundness without a financial audit;||(2) The cost of a financial audit would be an undue financial burden on the family trust company; and||(3) The family trust company has established and will maintain procedures that will ensure that its financial statements are accurate and complete.||(d) The commissioner may revoke an exemption granted under this section if he or she determines that a financial audit is necessary to ensure that:||(1) The family trust company maintains its safety and soundness; or||(2) The family trust company's financial statements are accurate and complete.|||Source. 2017, 257:45, eff. Sept. 16, 2017.|
NH Rev Stat § 383-D:11-1101 (2021)
2021 New Hampshire Revised Statutes|Title XXXV - Banks and Banking; Loan Associations; Credit Unions|Title 383-D - Family Trust Company Act|Section 383-D:11-1101 - Examination.

    383-D:11-1101 Examination. –||(a) The commissioner shall examine a family trust company every 36 months, or more often when necessary in his or her judgment.||(b) RSA 383-C:14-1401 and RSA 383-C:14-1402 shall not apply to a family trust company.|||Source. 2015, 272:16, eff. Oct. 1, 2015. 2017, 209:2, eff. Sept. 8, 2017; 257:46, eff. Sept. 8, 2017 at 12:01 a.m. 2021, 51:7, eff. July 24, 2021.|