reglab/statecodes huggingface dataset:
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 391 - Uniform Common Trust Fund Act › Section 391:5 - Short Title.

391:5 Short Title. –
This chapter may be cited as the Uniform Common Trust Fund Act.
Source.
1953, 109:1, par. 5, eff. Apr. 17, 1953.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 391 - Uniform Common Trust Fund Act › Section 391:6 - Severability.

391:6 Severability. –
If any provision of this chapter or the application thereof to any person or circumstances is held invalid, such invalidity shall not affect the other provisions or applications of the chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are declared to be severable.
Source.
1953, 109:1, par. 6, eff. Apr. 17, 1953.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 391 - Uniform Common Trust Fund Act › Section 391:7 - Repeal.

391:7 Repeal. –
All acts or parts of acts which are inconsistent with the provisions of this chapter are hereby repealed.
Source.
1953, 109:2, eff. Apr. 17, 1953.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 391 - Uniform Common Trust Fund Act › Section 391:8 - Applicability.

391:8 Applicability. –
This chapter shall take effect April 17, 1953, and shall apply to fiduciary relationships then in existence or thereafter established.
Source.
1953, 109:3, eff. Apr. 17, 1953.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:1 - Petition.

395:1 Petition. –
If any institution under the supervision of the bank commissioner shall refuse to permit an examination of its affairs by the commissioner, or to furnish the necessary facilities therefor, or shall violate its charter or any law of the state after having been notified in writing by the commissioner of such violation, or if at any time it appears to the commissioner that its business is being conducted in an unsafe or unauthorized manner, or that it is necessary for the public safety that it should not continue to transact business, the commissioner may represent the fact by petition to some justice of the superior court.
Source.
1911, 68:2. 1915, 97:1. PL 268:1. RL 316:1.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:2 - Orders.

395:2 Orders. –
The court may issue an injunction prohibiting, as far as may be thought necessary, the transaction of any business of said institution and the commissioner shall cause the same to be served. Any justice of the superior court, upon petition and notice to the commissioner, may dissolve, modify, continue or extend such injunction as equity may require. If in the opinion of said justice the public good requires he may direct the commissioner to take possession forthwith of the property and business of such institution, and he may retain possession thereof until it shall resume business, or until its affairs shall finally be liquidated as herein provided; and upon completing such liquidation the charter of such institution shall be vacated.
Source.
1911, 68:2. 1915, 97:1. PL 268:2. RL 316:2.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:3 - Resuming Business.

395:3 Resuming Business. –
Such institutions may, with the consent of the commissioner, resume business upon such conditions as the commissioner may approve.
Source.
1911, 68:3. PL 268:3. RL 316:3.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:4 - Insolvency.

395:4 Insolvency. –
Whenever it appears to the commissioner that any institution to which this chapter applies reflects negative equity capital, as determined by the most recent report of examination conducted by the banking department or a federal deposit insuring agency, the commissioner may represent the facts by ex parte petition to some justice of the superior court, or, at such time as the commissioner receives notice from a federal deposit insuring agency that such agency has commenced any proceeding to terminate the subject institution's deposit insurance, the commissioner shall represent the facts by ex parte petition to a justice of the superior court. In either such circumstance, said justice shall direct the commissioner to take possession of the property and business of such institution and retain possession thereof until it shall resume business, or until its affairs shall finally be liquidated as herein provided; and upon completion of such liquidation the charter of such institution shall be vacated.
Source.
1911, 68:4. PL 268:4. RL 316:4. RSA 395:4. 1991, 251:3. 1992, 98:1, eff. Apr. 29, 1992.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:5 - Commissioner's Duties.

395:5 Commissioner's Duties. –
Upon taking possession of the property and business of any institution to which this chapter applies, the commissioner shall have authority to collect money due the institution and to do such other acts as are necessary to conserve its assets and business. He shall collect all debts due and claims belonging to it, and, upon the order of the superior court, may sell or compound all bad or doubtful debts; and on like order may sell all or any part of the real and personal property of the institution on such terms as the court shall direct.
Source.
1911, 68:5. PL 268:5. RL 316:5. RSA 395:5. 1967, 132:16, eff. July 18, 1967.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:6 - Inventory.

395:6 Inventory. –
The commissioner shall make an inventory of the assets of the institution in duplicate, one to be filed in the office of the commissioner, and one in the office of the clerk of the superior court for the county in which the principal office of the institution is located.
Source.
1911, 68:5. PL 268:6. RL 316:6.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:7 - Notice.

395:7 Notice. –
The commissioner shall give notice of the fact that he has taken possession of the property and business of the institution to any and all banks, trust companies, associations and individuals holding or having possession of any assets of such institution.
Source.
1911, 68:5. PL 268:7. RL 316:7.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:8 - Effect.

395:8 Effect. –
No bank, trust company, association or individual, knowing that the commissioner has taken such possession, or having been notified thereof as aforesaid, shall have a lien or charge for any payment, advance or clearance thereafter made, or liability thereafter incurred, against any of the assets of the institution.
Source.
1911, 68:5. PL 268:8. RL 316:8.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:9 - Commissioner's Authority.

395:9 Commissioner's Authority. –
For the purpose of executing and performing the powers and duties hereby conferred upon him, the commissioner may, in the name of any such institution, prosecute and defend any legal proceedings, and may in the name of the institution execute, acknowledge and deliver any instruments necessary and proper to effectuate any sale of real or personal property or any compromise authorized by the court as herein provided; and any instrument executed pursuant to such authority shall be valid and effectual for all purposes to the same extent as though executed by the institution.
Source.
1911, 68:6. PL 268:9. RL 316:9.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:10 - Appointment of Agents.

395:10 Appointment of Agents. –
The commissioner may appoint agents to assist him to perform such duties connected with the business of such institutions as he may deem proper, and may procure such expert assistance and advice, or retain such of the officers or employees of such institution, as he may deem necessary; and the commissioner shall require from such agents or assistants such security for the faithful performance of their duty as he may deem proper.
Source.
1911, 68:7. PL 268:10. RL 316:10.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:10-a - Authority to Appoint a Federal Regulatory Agency as Liquidating or Receiving Agent.

395:10-a Authority to Appoint a Federal Regulatory Agency as Liquidating or Receiving Agent. –
Upon petition by the bank commissioner for the state to the superior court, the court may authorize the commissioner to appoint as liquidating or receiving agent of the bank commissioner a federal agency having authority to act in such capacity, subject to consent of such federal agency, allowing the federal agency so appointed to take possession of the assets, both legal and equitable, of a closed New Hampshire depository institution or any institution with respect to which the commissioner has filed a petition pursuant to RSA 395:4. As liquidating or receiving agent appointed by the bank commissioner with the permission of the court, the federal agency may assist the bank commissioner in the performance of his duties pursuant to this chapter, completing the final liquidation of such depository institution and vacation of its charter. The federal agency so appointed shall not be subject to the requirements of RSA 395:5. Upon such appointment, the Federal Deposit Insurance Corporation, the Resolution Trust Corporation, the National Credit Union Administration or any successor federal agency shall carry out its duties as receiver or liquidator pursuant to the applicable provisions of federal law.
Source.
1973, 11:1. 1991, 251:1. 1992, 98:2, eff. Apr. 29, 1992.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:10-b - Emergency Waiver.

395:10-b Emergency Waiver. –
The bank commissioner, upon the appointment of a federal agency as receiving or liquidating agent pursuant to RSA 395:10-a, shall have authority to issue an order waiving or suspending all laws, rules, practices and policies with respect to the authorization to commence or continue banking operations in the state of New Hampshire as he deems necessary and prudent. Such order shall take effect upon the appointment of the federal agency and shall continue in force until all actions necessary to liquidate the insolvent or closed New Hampshire depository institution are completed. Any waiver or suspension of any law, rule, practice or policy shall be limited to matters pertaining to the legally insolvent or closed New Hampshire depository institution for whom a liquidating or receiving agent has been appointed.
Source.
1991, 251:2, eff. June 10, 1991.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:11 - No Extra Compensation to Commissioner.

395:11 No Extra Compensation to Commissioner. –
The commissioner shall not receive any extra compensation for his services.
Source.
1911, 68:10. PL 268:11. RL 316:11.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:12 - Agent's Compensation, Etc.

395:12 Agent's Compensation, Etc. –
The compensation of any agents, counsel, employees and assistants, and all expenses of supervision and liquidation, shall be fixed by the commissioner, subject to the approval of the court, and on notice to such institution, and upon the certificate of the commissioner, shall be paid out of the funds of the institution in their hands.
Source.
1911, 68:10. PL 268:12. RL 316:12.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:13 - Notice.

395:13 Notice. –
The commissioner shall cause to be published weekly for 3 consecutive months, in such newspapers as he may direct, a notice calling on all persons who may have claims against such institution to present the same to the commissioner and to make legal proof thereof at a place and time not earlier than the last day of publication, to be therein specified. The commissioner shall mail a similar notice to all persons whose names appear as creditors upon the books of the institution so far as their addresses are known.
Source.
1911, 68:8. PL 268:13. RL 316:13.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:14 - Rejection.

395:14 Rejection. –
If the commissioner doubts the justice and validity of any claim he may reject the same and serve notice of such rejection upon the claimant either by mail or in person. An affidavit of service of such notice, which shall be prima facie evidence thereof, shall be filed with the commissioner.
Source.
1911, 68:8. PL 268:14. RL 316:14.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:15 - Suit.

395:15 Suit. –
An action upon the claim so rejected shall not be entertained unless brought within 6 months after such service.
Source.
1911, 68:8. PL 268:15. RL 316:15.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:16 - Delayed Claims.

395:16 Delayed Claims. –
Claims presented after the expiration of the time specified in the notice to creditors shall be entitled to share in the distribution only to the extent of the assets in the hands of the commissioner equitably applicable thereto.
Source.
1911, 68:8. PL 268:16. RL 316:16.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:17 - Reports on Claims.

395:17 Reports on Claims. –
Upon the expiration of the time fixed for the presentation of claims, the commissioner shall make in duplicate a full and complete list of the claims presented, including and specifying such claims as have been rejected by him. One of the said lists shall be filed in the office of the commissioner, and the other in the office of the clerk of court.
Source.
1911, 68:9. PL 268:17. RL 316:17.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:18 - Additional List.

395:18 Additional List. –
Thereafter the commissioner shall make and file in said offices, at least 15 days before every application to the court for leave to declare a dividend, a supplementary list of the claims presented since the last preceding list was filed, including and specifying such claims as have been rejected by him, and, in any event, he shall make and file the said list at least once in every year after the filing of the original list, so long as he shall remain in the possession of the property and business of the institution. Said inventory and lists shall be open to inspection at all reasonable times.
Source.
1911, 68:9. PL 268:18. RL 316:18.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:19 - Payment of Secured Claims and Dividends.

395:19 Payment of Secured Claims and Dividends. –
At any time after the expiration of the date fixed for the presentation of claims, upon application of the commissioner, the court may authorize:
I. Any person who holds a perfected security interest or a mortgage lien in assets of the insolvent or closed New Hampshire depository institution, which security interest or mortgage lien was granted to the person by such institution pursuant to a written contract or agreement as security for the payment of a debt or obligation deemed to be valid by the commissioner to:
(a) Dispose of or foreclose its mortgage lien on the collateral pursuant to applicable law;
(b) Satisfy such debt or obligation from the proceeds thereof;
(c) Pay the balance of the proceeds, if any, to the commissioner; and
(d) Provide a full account to the commissioner for all actions taken in connection with the disposition of or foreclosure of its mortgage lien on the collateral; and
II. The commissioner to declare out of the funds remaining in his hands, one or more dividends, such dividends to be paid to such persons, in such amounts, and upon such notice, as may be directed by the court. All dividends payable under this paragraph shall be paid in accordance with the priority established under RSA 395:30.
Source.
1911, 68:11. PL 268:19. RL 316:19. RSA 395:19. 1991, 251:4, eff. June 10, 1991.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:20 - Payment of.

395:20 Payment of. –
In the absence of an express written agreement to the contrary, any person paying to the depositor of a bank closed or in liquidation under this chapter or in any manner, a part or the whole of his deposit therein shall be subrogated to the rights of such depositor to receive dividends on account of the amount so paid.
Source.
1937, 103:7. RL 316:20.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:21 - Objections to Claims.

395:21 Objections to Claims. –
Objections to any claim not rejected by the commissioner may be made by any person interested by filing a copy of such objections with the commissioner, who shall present the same to the court at the time of the next application for permission to declare a dividend. The court to which such application is made shall thereupon notify the claimant and determine the validity of the claim. No dividend thereon shall be paid by the commissioner until the claimant shall have established his claim by judgment of the court.
Source.
1911, 68:11. PL 268:20. RL 316:21.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:22 - to 395:25 Repealed by 1965, 214:2, eff. Jan. 1, 1966.

395:22 to 395:25 Repealed by 1965, 214:2, eff. Jan. 1, 1966. –
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:26 - Procedure.

395:26 Procedure. –
Whenever any institution of whose property and business the commissioner takes possession as aforesaid deems itself aggrieved thereby, it may at any time within 10 days thereafter apply to the court to discontinue further proceedings; and the court, after notice to the commissioner and hearing, may dismiss such application or direct the commissioner to surrender the said business and property to the institution.
Source.
1911, 68:14. PL 268:25. RL 316:26.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:27 - By Commissioner.

395:27 By Commissioner. –
Whenever it appears to the commissioner advisable, or upon the petition of the trustees or directors of the institution, he may, with the approval of a justice of the superior court, reduce pro rata the deposit account of each depositor therein, whenever the value of its assets is less than the total amount of its deposits.
Source.
1911, 68:16. PL 268:26. RL 316:27.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:28 - Sharing Assets.

395:28 Sharing Assets. –
If the bank shall realize from the assets a greater sum than was so fixed upon the court shall order such excess to be equitably divided among the depositors whose accounts have been reduced, but to the extent of such reduction only.
Source.
1911, 68:16. PL 268:27. RL 316:28.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:29 - New Deposits.

395:29 New Deposits. –
If any institution whose deposit accounts have been reduced under the provisions of this chapter shall afterward receive new deposits it shall keep its accounts, and in all respects conduct its business relating to such new deposits, as if it were a separate institution, distinct from the one in which the old deposits were made; and if proceedings shall be commenced against such institution to wind up its affairs the court may make the same applicable to either or both parts of such business. Notice of such proceedings shall be given by publication in one or more newspapers published in the county where the institution is located.
Source.
1911, 68:17. PL 268:28. RL 316:29.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:29-a - Federal Approval.

395:29-a Federal Approval. –
Notwithstanding any provision of RSA 395:27, 28 or 29 to the contrary, any deposit account in any institution, the deposits of which are insured by the Federal Deposit Insurance Corporation, or any other agency or instrumentality of the United States of America, may not be reduced without the consent of the Federal Deposit Insurance Corporation or such other agency or instrumentality.
Source.
1991, 251:5, eff. June 10, 1991.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:30 - Distribution of Assets.

395:30 Distribution of Assets. –
Payments of dividends under RSA 395:19 and any other proceeds of the property of a closed or insolvent New Hampshire depository institution shall be distributed according to the decree of the court in the following priority:
I. The payment of the costs and expenses of the liquidation.
II. The payment of wage, salary and other claims of employees to the same extent such claims would be accorded priority under federal bankruptcy law.
III. The payment of claims for deposit accounts including but not limited to "deposits" as defined in 12 U.S.C. section 1813(l), or as it may be later amended from time to time.
IV. The payment of liens accorded priority under New Hampshire law.
IV-a. Reimbursement of fees or costs paid in advance by a consumer in relation to a mortgage loan application when the mortgage loan was not processed due solely to the insolvency of the institution, but only to the extent such fees or costs were not paid over to a third party for services actually rendered prior to the insolvency.
V. The payment of all debts, claims, and obligations filed in accordance with RSA 395:13, not accorded priority in the preceding paragraphs.
VI. The payment of delayed claims in accordance with RSA 395:16.
VII. The payment of capital debentures issued under RSA 383-A:4-403 and any other obligations expressly subordinated to deposits and to claims entitled to the priority established in the preceding paragraphs.
VIII. Any funds remaining shall be divided in the case of a stock institution among the stockholders according to their respective interests or, in the case of a mutual institution, among the depositors in proportion to the respective amounts of their deposits.
IX. Interest shall be given the same priority as the claim on which it is based, but no interest shall be paid on any claim until the principal of all claims within the same class and all higher-priority classes have been paid or adequately provided for in full.
Source.
1911, 68:18. PL 268:29. RL 316:30. RSA 395:30. 1959, 109:6. 1991, 251:6. 1993, 245:1. 2015, 272:29, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:31 - Reports by Commissioner.

395:31 Reports by Commissioner. –
The commissioner shall incorporate in his annual report a statement showing the condition of any institution in his possession.
Source.
1911, 68:19. PL 268:30. RL 316:31.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 395 - Liquidation Under Supervision of the Bank Commissioner › Section 395:32 - Destruction of Records.

395:32 Destruction of Records. –
Records and papers preserved in the office of the bank commissioner and concerned with the liquidation of a bank, as provided for in this chapter, may be destroyed at the end of 10 years after such liquidation proceedings have been completed.
Source.
1957, 2:1, eff. July 1, 1957.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 396 - Regulation, Conservation, and Reorganization Under Direction of the Bank Commissioner › Section 396:1 - Regulation.

396:1 Regulation. –
The bank commissioner upon the application of the board of trustees or directors of any institution under his supervision, may regulate the time, amount, and manner of payment and withdrawal of all classes of deposits; the reception of all classes of deposits; the investment of assets within statutory limits; the amount of reserve without limitation otherwise imposed; the borrowing of money; the pledge of assets; the valuation of assets; the collection and payment of accounts; the payment of dividends; the employment and compensation of personnel; the retirement of shares; and any other business of such institution, whenever and during such time and to the extent that he deems such action necessary for the protection of its depositors and other creditors. Regulations hereunder shall be by written order signed by the commissioner and filed in his office. Copies thereof signed by the commissioner shall be served as hereinafter provided. The commissioner may change, cancel, or terminate any such orders from time to time as he deems the interest of such depositors or creditors require.
Source.
1933, 114:1. RL 317:1.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 396 - Regulation, Conservation, and Reorganization Under Direction of the Bank Commissioner › Section 396:2 - Notice.

396:2 Notice. –
Notice of any order of the commissioner made hereunder shall be sufficient if served on the treasurer or cashier or other person in charge of the business of the institution affected and on one other officer or a trustee or director thereof, but any order relating to the withdrawal, payment, or reception of deposits shall, in addition thereto, be posted in that part of the institution commonly used by its depositors. Any person may serve such notice. The commissioner may give such further notice of any such order as he deems desirable. Notice of any such order relating to the payment of accounts other than deposits may be given creditors by registered mail and a return receipt signed by or for a creditor shall be sufficient evidence of receipt thereof.
Source.
1933, 114:1. RL 317:2.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 396 - Regulation, Conservation, and Reorganization Under Direction of the Bank Commissioner › Section 396:3 - Violation of Orders.

396:3 Violation of Orders. –
It shall be unlawful for any such institution or officer, trustee, director, or employee thereof having notice or knowledge of any such order to violate the provisions thereof.
Source.
1933, 114:1. RL 317:3.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 396 - Regulation, Conservation, and Reorganization Under Direction of the Bank Commissioner › Section 396:4 - Limitation of Actions.

396:4 Limitation of Actions. –
No right of action by or for any party in interest, including persons under disability, shall lie at law or in equity for the recovery of any money or property in excess of that which may be paid or delivered by such institution under any such order. The assets of an institution, under regulation as to payment of money, shall not be subject to attachment or trustee process against it as a principal defendant. No mandatory or restraining court order shall be made against the commissioner or institution under his regulation hereunder or its conservator, officers, trustees, directors, or employees, except as provided in RSA 396:8.
Source.
1933, 114:1. RL 317:4.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 396 - Regulation, Conservation, and Reorganization Under Direction of the Bank Commissioner › Section 396:5 - Conservator.

396:5 Conservator. –
Whenever the commissioner shall deem it necessary in order to conserve the assets of any institution under his supervision for the benefit of the depositors and other creditors thereof, he may appoint a conservator of such institution and require of him such bond and security as the commissioner deems proper. The conservator's appointment shall be recorded in the office of the secretary of state and a copy thereof shall be placed in the corporate records of the institution affected. The conservator, under the direction of the commissioner, shall take possession of the books, records, and assets of every description of such institution and take such action as may be necessary to conserve its assets and to manage, direct, and control the business of the institution if any part of its business is to be continued or resumed.
Source.
1933, 114:1. RL 317:5.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 396 - Regulation, Conservation, and Reorganization Under Direction of the Bank Commissioner › Section 396:6 - Powers and Duties.

396:6 Powers and Duties. –
The conservator shall have all the powers which could otherwise be exercised by the officers, trustees, and directors of such institution and whatever powers are necessary to carry out the provisions of this chapter, and he shall be subject to all the duties otherwise imposed upon them as extended or limited by this chapter, and by regulations promulgated by the commissioner under the provisions of RSA 396:1. The appointment of a conservator shall not affect any regulation hereunder in force at the time of his appointment nor the right of the commissioner to make further regulations hereunder. The compensation and expense of the conservator and his assistants and the other expense of the institution shall be paid from its assets upon order of the commissioner and shall be a lien thereon prior to any other lien. No officer, trustee, director, or stockholder shall be liable for any act of a conservator or in any respect for any result of conservatorship nor shall they be liable for any act of omission during the time that a conservator remains in possession of such institution.
Source.
1933, 114:1. RL 317:6.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 396 - Regulation, Conservation, and Reorganization Under Direction of the Bank Commissioner › Section 396:7 - Removal.

396:7 Removal. –
The commissioner may remove a conservator at pleasure. He shall terminate such appointment when he deems the interest of the depositors and other creditors no longer requires conservatorship and permit such institution to resume the transaction of its business subject to such terms, conditions, restrictions, and limitations as he may prescribe. If at any time the commissioner deems it in the interest of depositors and other creditors to liquidate any institution under his supervision, whether under regulation or conservatorship or not, he may proceed under the provisions of RSA 395, and the appointment of a conservator of such institution may be vacated or continued by order of court thereunder.
Source.
1933, 114:1. RL 317:7.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 396 - Regulation, Conservation, and Reorganization Under Direction of the Bank Commissioner › Section 396:8 - Review and Appeal.

396:8 Review and Appeal. –
Any party in interest may apply in writing to the commissioner at any time for a change, cancellation, or termination of any order of regulation, appointment of conservator, or payment of compensation or expense during conservatorship, and the commissioner shall take such action thereon as he deems the interests of depositors and other creditors require. Any such party aggrieved by the action of the commissioner or his refusal or neglect to act on such application within 14 days from the date of such application may appeal within the next 7 days from said order by petition to the superior court. Upon hearing, after such notice as the court may prescribe, the burden of proof shall be upon the petitioner to show that such order is clearly unreasonable or unlawful, and such order shall be deemed to be prima facie lawful and reasonable and shall not be set aside or vacated except for errors of law unless the court by a clear preponderance of the evidence before it finds that such order is unjust or unreasonable. No appeal shall lie to orders of court made in connection therewith unless taken within 7 days from the date thereof. The commissioner shall have the right of such appeal. Upon such appeal any 2 justices of the supreme court, without hearing, may stay any order of the superior court to the extent that such order of the commissioner shall continue in effect pending final decision of the supreme court. The superior court shall have the right to issue injunctions to prevent multiplicity of proceedings for change, cancellation, or termination of orders of the commissioner made under the provisions of this chapter, or to prevent undue interference with the regulation, conservation, or reorganization thereunder and to issue mandatory or restraining orders against the commissioner, a conservator, officer, trustee, director, or employee of an institution under the supervision of the commissioner for violation of law or lawful order. No other right of injunction or mandatory order shall lie against the commissioner or any person acting under his direction or control or orders made by him under the provisions of this chapter.
Source.
1933, 114:1. RL 317:8.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 396 - Regulation, Conservation, and Reorganization Under Direction of the Bank Commissioner › Section 396:10 - Federal Benefits.

396:10 Federal Benefits. –
Notwithstanding any other provision of law, any institution under the supervision of the commissioner is authorized to exercise, with his approval, such power and do any and all things necessary to avail itself of the benefits of any act of Congress granting powers to or conferring benefits on such institutions now or hereafter adopted, without limiting or impairing in any way the authority of the commissioner under the laws of this state.
Source.
1933, 114:1. RL 317:10.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 396 - Regulation, Conservation, and Reorganization Under Direction of the Bank Commissioner › Section 396:10-a - Open-Bank Assistance.

396:10-a Open-Bank Assistance. –
If an institution is reorganized in an open-bank assistance transaction under 12 U.S.C. section 1823(c) or as it may be amended from time to time, no agreement, claim, counterclaim or defense involving the institution prior to its reorganization shall thereafter be valid against the institution, or any transferee or assignee thereof, if such agreement, claim, counterclaim or defense would not have been valid under 12 U.S.C. section 1823(e) or as it may be amended from time to time or any other applicable federal law against the Federal Deposit Insurance Corporation, or any successor federal agency, in its capacity as a receiver, if the institution had been closed pursuant to RSA 395 or any other federal or state law instead of having been reorganized.
Source.
1991, 251:7, eff. June 10, 1991.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 396 - Regulation, Conservation, and Reorganization Under Direction of the Bank Commissioner › Section 396:12 - Retirement, Restoration.

396:12 Retirement, Restoration. –
Notwithstanding any other provision of law the stock or shareholders of any institution authorized by RSA 396:9 to issue preferred stock or shares, with or without conservatorship and with or without authorized issue of preferred stock or shares, with the approval of the commissioner, may, by majority stock or share vote, reduce the amount of its capital or its guarantee or other special fund, in which shares of ownership have been issued, through the retirement of stock or shares or the reduction of par or face value thereof. Any such reduction may by like vote and approval be restored in whole or proportionately in part from future earnings or profits when the capital fund and surplus is not or will not thereby be impaired. No retirement of stock or shares or reduction in par value thereof hereunder shall operate to relieve the owner thereof of any liability attaching to the ownership of such stock or shares so retired or reduced in par value.
Source.
1933, 114:1. RL 317:12.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 396 - Regulation, Conservation, and Reorganization Under Direction of the Bank Commissioner › Section 396:13 - Other Powers Not Limited.

396:13 Other Powers Not Limited. –
The provisions of this chapter shall not be construed to limit any other power conferred by law upon the bank commissioner.
Source.
1933, 114:2. RL 317:13.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 397 - Regulation of Banks in Emergencies › Section 397:1 - Banking Emergency.

397:1 Banking Emergency. –
Whenever it shall appear to the governor that the welfare of the state or any section thereof, or the welfare and security of banks and other institutions under the supervision of the bank commissioner, hereinafter referred to as banks, or their depositors or shareholders so require, he may proclaim that a banking emergency exists and that any bank or banks shall be subject to special regulation as hereinafter provided until the governor, by proclamation, declares the period of such banking emergency terminated. The governor may likewise declare such legal bank holidays as in his judgment such an emergency may require.
Source.
1933, 25:1. RL 318:1.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 397 - Regulation of Banks in Emergencies › Section 397:2 - Powers of Bank Commissioner.

397:2 Powers of Bank Commissioner. –
During the period of any banking emergency so proclaimed, the bank commissioner, hereinafter called the commissioner, in addition to all other powers conferred upon him by law, shall have authority to order any one or more banks to restrict all or any part of their business and to limit or postpone for any length of time the payment of any amount or proportion of the deposits in any of the departments thereof as he may deem necessary or expedient and may further regulate payments therefrom as to time and amount, as in his opinion the interest of the public or of such bank or banks or the depositors thereof may require, and may make such further orders and regulations in respect to the business of such bank or banks as in his opinion the interest of the public or of such bank or banks or the depositors thereof may require, and any order or orders made by him hereunder may be amended, changed, extended, or revoked, in whole or in part, whenever in his judgment circumstances warrant or require. After the termination of any such banking emergency, any such order may be continued in effect as to any particular bank or banks as aforesaid if in the judgment of the commissioner circumstances warrant or require and the governor approves.
Source.
1933, 25:2. RL 318:2.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 397 - Regulation of Banks in Emergencies › Section 397:3 - New Deposits.

397:3 New Deposits. –
The commissioner may by order authorize any bank or banks to receive new deposits under such special rules and regulations as in the opinion of the commissioner the interest of the public or of such bank or banks or the depositors thereof may require.
Source.
1933, 25:3. RL 318:3.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 397 - Regulation of Banks in Emergencies › Section 397:4 - New Deposits-Special.

397:4 New Deposits-Special. –
The commissioner may by order authorize any bank or banks to receive new deposits, which new deposits shall be special deposits and designated as such, shall be segregated from all other deposits and may be invested only in assets approved by the commissioner as being sufficiently liquid to be available when needed to meet any demands on account of such special deposits, which assets shall not be merged with other assets but shall be held in trust for the security and payment of such special deposits, except that income from such assets may to the extent authorized by the commissioner be used by the bank for other proper purposes of the institution, and the withdrawal of such special deposits shall not be subject in any respect to restriction or limitation under this chapter.
Source.
1933, 25:4. RL 318:4.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 397 - Regulation of Banks in Emergencies › Section 397:5 - Penalty for Violation of Rules.

397:5 Penalty for Violation of Rules. –
Whenever the commissioner shall make any order hereunder, he shall adopt rules, pursuant to RSA 541-A, for the protection of any bank or banks subject thereto or the depositors thereof, and any person violating any provision of such a rule shall be guilty of a misdemeanor if a natural person, or guilty of a felony if any other person.
Source.
1933, 25:5. RL 318:5. RSA 397:5. 1973, 528:269. 1985, 55:19, eff. Apr. 23, 1985.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 397 - Regulation of Banks in Emergencies › Section 397:6 - Suspension of Laws.

397:6 Suspension of Laws. –
All laws inconsistent herewith shall be suspended during the period of any banking emergency.
Source.
1933, 25:7. RL 318:7.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 397-A - Licensing of Nondepository Mortgage Bankers, Brokers, and Servicers › Section 397-A:2 - Application of Chapter.

397-A:2 Application of Chapter. –
I. This chapter shall provide for the department's regulation of persons that engage in the business of a mortgage banker, mortgage broker, mortgage servicer, or mortgage originator for a mortgage loan from the state of New Hampshire or a mortgage loan secured by real property located in the state of New Hampshire. The following persons are not considered to be engaged in the business of activities requiring regulation under this chapter:
(a) An individual who offers or negotiates terms of a residential mortgage loan with or on behalf of an immediate family member of the individual.
(b) An individual who offers or negotiates terms of a residential mortgage loan secured by a dwelling that served as the individual's residence.
(c)(1) An attorney licensed in New Hampshire performing activities that are within the definition of a loan originator, provided that such activities are:
(A) Considered by the New Hampshire supreme court to be part of the authorized practice of law within New Hampshire;
(B) Carried out within an attorney-client relationship; and
(C) Accomplished by the attorney in compliance with all applicable laws, rules, ethics, and standards.
(d) An individual who acts as a mortgage banker, mortgage broker, mortgage servicer, or mortgage originator if the individual is not engaged habitually and repeatedly in such activities in a commercial context. It shall be a rebuttable presumption that an individual is not engaged in the business of a mortgage banker, mortgage broker, mortgage servicer, or mortgage originator if the individual is not involved in more than 3 loans in any consecutive 12-month period.
II. Any mortgage loan made, brokered, or serviced under the provisions of this chapter shall be further governed by any other applicable laws of the state of New Hampshire and by the Consumer Credit Protection Act (15 U.S.C. Section 1601 et seq.), as amended.
III. Persons subject to or licensed under this chapter shall abide by applicable federal laws and regulations, the laws and rules of this state, and the orders of the commissioner. Any violation of such law, regulation, order, or rule is a violation of this chapter. Such federal laws and regulations include but are not limited to the Bank Secrecy Act (BSA), 31 U.S.C. Section 5311 et seq. and 31 C.F.R. Part X et seq. when required by the BSA, and include interpretive orders and similar directives.
IV. Any condition, stipulation, or provision binding any person to waive compliance with any provision of this chapter or any rule or order under this chapter is void.
Source.
2016, 289:1, eff. Aug. 20, 2016. 2018, 211:1, eff. Aug. 7, 2018.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 397-A - Licensing of Nondepository Mortgage Bankers, Brokers, and Servicers › Section 397-A:3-a - Prohibitions.

397-A:3-a Prohibitions. –
I. No individual may act as an originator for more than one mortgage broker, mortgage servicer, mortgage banker, or other financial institution at the same time, unless the entities are affiliates.
II. No individual may act as a principal for more than one mortgage broker, mortgage servicer, mortgage banker, or other financial institution at the same time, unless the entities are affiliates.
III. A mortgage banker, mortgage broker, or mortgage servicer shall not employ, retain, or otherwise engage an originator unless the originator is licensed.
Source.
2016, 289:1, eff. Aug. 20, 2016.