reglab/statecodes huggingface dataset:
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:11-1102 - Federal Credit Union to State Credit Union.

383-E:11-1102 Federal Credit Union to State Credit Union. –
A federal credit union may be converted into a state credit union by complying with such requirements of this chapter as would have enabled it to have originally qualified for organization as a state credit union. When the commissioner has been satisfied that the requirements, and all other requirements of this chapter, have been complied with, he shall approve the organization certificate. Upon approval, the federal credit union shall become a state credit union as of the date it ceases to be a federal credit union. The state credit union shall be vested with all of the assets and shall continue responsible for all of the obligations of the federal credit union to the same extent as though the conversion had not taken place.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:11-1103 - Rules.

383-E:11-1103 Rules. –
The commissioner may adopt rules governing the terms and conditions of conversions under this Article.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:12-1201 - Dissolution.

383-E:12-1201 Dissolution. –
If a special meeting is called for the purpose of addressing dissolution of a credit union and a majority of the members are in attendance, upon recommendation of not less than
2/3 of the board of directors, the members may dissolve the credit union by the vote of
2/3 of the members present and voting at a meeting called for that purpose.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:12-1202 - Procedure.

383-E:12-1202 Procedure. –
Upon a vote dissolving the credit union, the members shall elect a committee of 3 persons to liquidate the assets of the credit union. The committee shall act under the control of the commissioner. Each paid-in share according to the amount paid in shall be entitled to its proportional part of the assets in liquidation after all deposits and debts have been paid.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:13-1301 - Corporate Credit Union.

383-E:13-1301 Corporate Credit Union. –
A corporate credit union may be incorporated under this chapter and shall be subject to all parts of this chapter not inconsistent with this subdivision.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:13-1302 - Purposes.

383-E:13-1302 Purposes. –
A corporate credit union is a cooperative nonprofit association whose members consist primarily of other credit unions and whose purposes are:
(a) To accumulate and prudently manage the liquidity of its member credit unions through interlending and investment services;
(b) To act as an intermediary for credit union funds between members and other corporate credit unions;
(c) To obtain liquid funds from other credit union organizations, financial intermediaries, and other sources;
(d) To foster and promote in cooperation with other state, regional, and national corporate credit unions and credit union organizations or associations the economic security, growth and development of member credit unions; and
(e) To perform such other financial services of benefit to its members which are authorized by the commissioner.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:13-1303 - Membership.

383-E:13-1303 Membership. –
(a) Membership in the corporate credit union shall consist of and be limited to the subscribers to the articles of incorporation, credit unions organized under this chapter, credit unions organized under the Federal Credit Union Act or under any other credit union act, organizations or associations of credit unions, and such other persons or organizations provided for in the articles of incorporation.
(b) The board of directors of each credit union, organization or association becoming a member of the corporate credit union shall designate one person to be a voting representative in the corporate credit union. The voting representative shall be eligible to hold office in the corporate credit union as if the person were himself or herself a member of the corporate credit union.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:13-1304 - Charter and Name Exclusive.

383-E:13-1304 Charter and Name Exclusive. –
Only one corporate credit union shall be incorporated under this chapter and no other credit union may use the term "corporate credit union" as a part of its name.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:13-1305 - Application; Organization.

383-E:13-1305 Application;  Organization. –
Application to form a corporate credit union shall be made in writing to the commissioner. The application shall contain the names of at least 15 credit unions which have agreed to subscribe to shares in the corporate credit union at the time the application is made.
(a) The application shall be accompanied by articles of incorporation, bylaws, and other appropriate documents.
(b) The bylaws shall provide for the selection of a board of directors of at least 5 members and shall require credit unions applying for membership to subscribe to shares in a minimum amount as specified in the bylaws.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:13-1306 - Powers and Privileges.

383-E:13-1306 Powers and Privileges. –
A corporate credit union shall enjoy the powers and privileges of any other credit union incorporated under this chapter. In addition to such powers and privileges, and notwithstanding any limitations or restrictions found elsewhere in this chapter, a corporate credit union may:
(a) Accept shares or deposits in any form from its members, from other state, regional or national credit unions, and from credit union organizations or associations;
(b) Make loans to credit unions, to other state, regional or national corporate credit unions, organizations or associations of credit unions, and to other members;
(c) Establish lines of credit for members and participate with other credit unions in making loans to its members under the terms and conditions determined by the board of directors;
(d) Invest in the shares of or make deposits in credit unions;
(e) Buy and sell any form of marketable debt obligations of domestic or foreign corporations or of federal, state or local government units;
(f) Borrow from any source without limitation, accept demand deposits from any source, and issue notes or debentures;
(g) Acquire or sell the assets and assume the liabilities of a member; and
(h) Enter into agreements with credit unions to discount or purchase loans made under government-guaranteed loan programs, real estate loans made by members or any obligations of the United States or any agency thereof held by members.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:13-1307 - Powers.

383-E:13-1307 Powers. –
The corporate credit union may exercise such incidental powers or privileges as are conferred upon federal corporate credit unions, subject to the approval of the commissioner.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:13-1308 - Participation in Central System.

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 act as a depositor and transmitter of funds to carry out the agreements.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:13-1309 - Right of Set-Off; Security Interest.

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 and deposit accounts of each member in the amount of the total indebtedness of the member to the corporate credit union. The lien created by this subsection shall attach to the accounts and be effective whenever the member is indebted to the corporate credit union. The lien shall have priority over any interests of all members and unsecured creditors of the member credit unions of the corporate credit union.
(b) The board of directors or credit committee may require and accept additional security for loans to a member in the form of a pledge, assignment, hypothecation or mortgage of any assets of the member or a guarantor.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:13-1310 - Meetings.

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. Each member shall be entitled to one vote irrespective of the number of shares held by the member.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:13-1311 - Fees.

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.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:13-1312 - Reserves.

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.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:13-1313 - Exemptions.

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.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:1 - Title and Purposes.

384-F:1 Title and Purposes. –
I. This chapter shall be known and may be cited as the "New Hampshire International Banking Act."
II. This chapter is intended generally to provide for state regulation of the participation by foreign banks in the financial markets of this state.
III. Consistent with the federal International Banking Act, the Bank Holding Company Act, the Federal Deposit Insurance Act, and the Interstate Banking and Branching Efficiency Act, this chapter is intended specifically:
(a) To authorize banking activities and operations, under state licenses issued by the bank commissioner, of direct branch and agency offices in this state of foreign banks, generally under terms and conditions not less favorable than the terms and conditions under which such activities and operations may be conducted by federal branch or agency offices of foreign banks in the United States, and to set forth a statutory framework for the licensing, regulation, and supervision of such state-licensed offices of foreign banks by the bank commissioner to assure the safe and sound operation of such offices that are licensed under the laws of this state;
(b) To authorize representative offices in this state of foreign banks, and to set forth statutory provisions governing the licensing and supervision of such offices by the bank commissioner; and
(c) To ensure that the banking laws and regulations of this state otherwise apply to foreign banks, and to New Hampshire and out-of-state banks and bank holding companies that are owned or controlled by foreign banks, in a manner consistent with the laws and policies of the United States governing the operations in this country of foreign banks.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:3 - General Rulemaking Authority.

384-F:3 General Rulemaking Authority. –
The commissioner is authorized and empowered to adopt rules, pursuant to RSA 541-A, and orders as the commissioner may deem necessary in order to perform his or her duties and functions under this chapter and to administer and carry out the provisions and purposes of this chapter and to prevent evasions thereof.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:4 - Severability.

384-F:4 Severability. –
If any provision of this chapter or the application of such provision is found by any court of competent jurisdiction in the United States to be invalid as to any bank, bank holding company, foreign bank, or other person or circumstances, or to be superseded by federal law, the remaining provisions hereof shall not be affected and shall continue to apply to any bank, bank holding company, foreign bank, or other person or circumstances.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:5 - Purposes.

384-F:5 Purposes. –
This subdivision is generally intended to ensure that the laws and rules of this state applicable to the ownership and operations of New Hampshire banks, and interstate branches in this state of out-of-state banks do not discriminate against such banks that are owned or controlled by foreign banks or other foreign persons in a manner inconsistent with the provisions of section 3(d) of the Bank Holding Company Act (12 U.S.C. section 1842(d)), as amended effective September 29, 1995, by section 101 of the Interstate Banking and Branching Efficiency Act, or with other laws and policies of the United States.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:6 - Operations in This State of Banks Owned or Controlled by Foreign Banks and Other Foreign Persons.

384-F:6 Operations in This State of Banks Owned or Controlled by Foreign Banks and Other Foreign Persons. –
I. Except as provided in paragraph II of this section:
(a) The laws and rules of this state governing the acquisition or ownership of controlling or other interests in New Hampshire banks or in out-of-state banks seeking to establish and maintain one or more interstate branches in this state shall not generally prohibit ownership of such institutions by, or otherwise discriminate against, foreign banks or other foreign persons, notwithstanding any provision of the laws or rules of this state to the contrary.
(b) The laws and rules of this state governing the powers and activities of New Hampshire banks and of out-of-state banks maintaining one or more interstate branches in this state shall not discriminate among such banks on the basis of their ownership or control by foreign banks or other foreign persons, notwithstanding any provision of the laws or rules of this state to the contrary.
II. Notwithstanding the provisions of paragraph I the commissioner is authorized to apply any standards or requirements of the laws and rules of this state governing the ownership, control or operations of New Hampshire banks, even if applicable specifically or exclusively to foreign banks or other foreign persons, to the extent such standards or requirements are determined by rule or order of the commissioner to be either:
(a) Substantially equivalent to or consistent with the standards or requirements governing the ownership, control or operations of New Hampshire banks by foreign banks or other foreign persons under applicable U.S. federal laws or regulations; or
(b) Otherwise consistent with the laws and policies of the United States, including its international agreements governing financial services.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:7 - Citizenship and Residency Requirements for Directors of State Banks.

384-F:7 Citizenship and Residency Requirements for Directors of State Banks. –
Notwithstanding any other provision of the laws and rules of this state, the citizenship and residency requirements otherwise applicable to members of the board of directors of any New Hampshire bank may, in the case of a New Hampshire bank which is a subsidiary or affiliate of a foreign bank, be waived by the commissioner in his or her discretion upon application by the controlling shareholder of the New Hampshire bank; provided that at least a majority of the directors shall be citizens of the United States and at least a majority of the directors shall be residents of this state.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:8 - Short Title and Purposes.

384-F:8 Short Title and Purposes. –
I. This subdivision shall be known and may be cited as the "New Hampshire Foreign Bank Office Act."
II. Consistent with the federal International Banking Act, the Bank Holding Company Act, the Federal Deposit Insurance Act, and the Interstate Banking and Branching Efficiency Act, this subdivision is intended:
(a) To authorize banking activities and operations, under state licenses issued by the commissioner, of direct branch and agency offices in this state of foreign banks, generally under terms and conditions not less favorable than the terms and conditions under which such activities and operations may be conducted by federal branch or agency offices of foreign banks in the United States, and to set forth a statutory framework for the licensing, regulation, and supervision of such state-licensed offices of foreign banks by the commissioner to assure the safe and sound operation of such offices that are licensed under the laws of this state; and
(b) To authorize representative offices in this state of foreign banks, and to set forth statutory provisions governing the licensing and supervision of such offices by the commissioner.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:9 - Branches and Agencies of Foreign Banks; Necessity of Licensure.

384-F:9 Branches and Agencies of Foreign Banks;  Necessity of Licensure. –
I. No foreign bank shall transact business in this state except at a New Hampshire state branch or New Hampshire state agency which it is licensed to establish and maintain pursuant to this chapter, and at which it conducts such activities as are permitted by this chapter.
II. Paragraph I shall not be deemed to prohibit:
(a) Any foreign bank which establishes and maintains a federal agency or federal branch in this state from transacting at such federal agency or federal branch such business as it may be authorized to transact under applicable federal laws and regulations;
(b) Any foreign bank which does not maintain a New Hampshire state branch or New Hampshire state agency from making in this state loans secured by liens on real or personal property located in this state or enforcing such loans in this state;
(c) Any foreign bank which does not maintain a New Hampshire branch or New Hampshire agency from transacting trust business in this state as long as the trust business is not conducted from an office or location in this state;
(d) Any foreign bank which maintains a New Hampshire branch or agency from transacting business as agent for an affiliated depository or other institution in accordance with provisions of this chapter; or
(e) Any foreign bank organized under the laws of a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, the deposits of which are insured by the Federal Deposit Insurance Corporation, from establishing and operating an interstate branch in this state in its capacity as a "state bank" as defined in the Federal Deposit Insurance Act, pursuant to the authorities contained in that Act and in the laws of this state.
III. For purposes of paragraph I, no foreign bank shall be deemed to be transacting business in this state merely because a subsidiary or affiliate transacts business in this state, including business that any depository institution, subsidiary, or affiliate may lawfully conduct in this state as an agent for the foreign bank in accordance with and to the extent authorized by the laws of this state and applicable rules, regulations, or orders of the commissioner.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:10 - Application to Establish and Maintain a Branch or Agency; Contents.

384-F:10 Application to Establish and Maintain a Branch or Agency;  Contents. –
A foreign bank, in order to procure a license under this chapter to establish and maintain a New Hampshire state branch or New Hampshire state agency shall submit an application to the commissioner, in a form prescribed by the commissioner in rules adopted pursuant to RSA 541-A. Such application shall contain:
I. The same information as required by the Board of Governors of the Federal Reserve System for an application to establish a branch or agency, as the case may be, in the United States;
II. An instrument irrevocably appointing the commissioner or his or her successors in office to be such foreign bank's agent, representative, and attorney to receive service of any lawful judicial and administrative process in accordance with RSA 384-F:24; and
III. Such additional information as the commissioner may require by rules, adopted pursuant to RSA 541-A, or order.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:11 - Application to Establish and Maintain a Branch or Agency; Manner of Filing and Determination.

384-F:11 Application to Establish and Maintain a Branch or Agency;  Manner of Filing and Determination. –
I. A foreign bank making an application under this chapter for a license to establish and maintain a New Hampshire state branch or New Hampshire state agency shall deliver to the commissioner:
(a) At least 2 duplicate originals of the foreign bank's application; and
(b) At least 2 copies of its charter or articles of incorporation and all amendments thereto, duly authenticated by the proper officer of the country of such foreign bank's organization.
II. The commissioner shall issue a license to a foreign bank to establish and maintain a New Hampshire state branch or New Hampshire state agency if he or she finds:
(a) That the foreign bank is of good character and sound financial standing;
(b) That the management of the foreign bank and the proposed management of the New Hampshire state branch or New Hampshire state agency are adequate;
(c) That the convenience and needs of persons to be served by the proposed New Hampshire state branch or New Hampshire state agency will be promoted; and
(d) That the foreign bank satisfies such other standards as the commissioner may establish in rules adopted pursuant to RSA 541-A.
III. If the commissioner determines to issue a license to a foreign bank to establish and maintain a New Hampshire state branch or New Hampshire state agency, he or she shall, when all fees have been paid as required under this chapter:
(a) Endorse on each application the date of the filing thereof;
(b) File in his or her office one of such duplicate originals of the application and copies of the charter or articles of incorporation and amendments thereto; and
(c) Issue a license to establish and maintain a New Hampshire state branch or New Hampshire state agency to such foreign bank.
A duplicate original of the license issued by the commissioner, along with a certified copy of the foreign bank's charter or articles of incorporation and amendments thereto shall be filed with the New Hampshire secretary of state before such branch or agency shall commence business in the state of New Hampshire. A copy of any certificate or similar document issued by the secretary of state in connection with such filing shall be forthwith filed with the commissioner.
IV. Each license issued to a foreign bank to establish and maintain a New Hampshire state branch or New Hampshire state agency shall state fully the name of the foreign bank to which such license is issued, and all such other information as the commissioner may require by rule or order.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:12 - Application Fee.

384-F:12 Application Fee. –
Upon applying to the commissioner under this chapter for a license to establish and maintain a New Hampshire state branch or New Hampshire state agency, a foreign bank shall pay to the commissioner an application fee of $1,500 for each branch or agency.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:13 - No Concurrent Maintenance of Federal Branches or Agencies.

384-F:13 No Concurrent Maintenance of Federal Branches or Agencies. –
I. No foreign bank which is licensed under this chapter to establish and maintain a New Hampshire state branch or New Hampshire state agency shall concurrently maintain a federal branch or federal agency in this state.
II. No foreign bank which maintains a federal branch or federal agency in this state shall concurrently be licensed under this chapter to maintain a New Hampshire state branch or New Hampshire state agency.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:15 - Fiduciary Activities.

384-F:15 Fiduciary Activities. –
I. No foreign bank which is licensed to establish and maintain a New Hampshire state branch or New Hampshire state agency shall engage in fiduciary activities at such office unless such foreign bank shall have first obtained a certificate of authority from the commissioner to engage in fiduciary activities at such office.
II. An application to obtain a certificate of authority to engage in fiduciary activities shall be in such form and contain such information as the commissioner requires by rules adopted pursuant to RSA 541-A, and shall be accompanied by an application fee of $1,500. The commissioner shall issue a certificate of authority to engage in fiduciary activities to a foreign bank making an application under this section if he or she finds that such foreign bank will exercise fiduciary powers in accordance with the laws and rules of this state.
III. A foreign bank which holds a certificate of authority issued under this section may engage at its New Hampshire state branch or New Hampshire state agency in fiduciary activities to the same extent and in the same manner as if such foreign bank were a New Hampshire state bank.
IV. A foreign bank which holds a certificate of authority issued under this section shall file all such reports, pay all fees in accordance with the requirements of RSA 384-F:30, and be subject to examination and supervision as the commissioner may determine by rules adopted pursuant to RSA 541-A.
V. The commissioner may suspend or revoke a certificate to engage in fiduciary activities issued under this section if he or she finds:
(a) That conditions exist which would authorize the commissioner under this chapter to revoke or suspend such foreign bank's license to establish and maintain a New Hampshire state branch or New Hampshire state agency; or
(b) Any fact or condition exists which, if it had existed at the time of the foreign bank's original application to obtain a certificate of authority to engage in fiduciary activities, would have resulted in the commissioner refusing to issue such certificate of authority to the foreign bank.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:16 - Authority to Act as Agent.

384-F:16 Authority to Act as Agent. –
I. A New Hampshire state branch or New Hampshire state agency of a foreign bank licensed under this chapter may receive deposits, renew time deposits, close loans, service loans, and receive payments on loans and other obligations as an agent for any depository institution affiliate of such foreign bank, including branch, agency, and other offices of the same foreign bank located in other states, generally in accordance with the same terms, conditions, procedures, and requirements that are applicable under the laws and rules of this state to such agency activities that may be conducted by New Hampshire state banks.
II. Notwithstanding any other provision of the laws or rules of this state, a New Hampshire state branch or New Hampshire state agency of a foreign bank acting in this state as an agent in accordance with the provisions of this section shall not be considered to be a branch of some other depository institution affiliate; provided, however, that no New Hampshire state branch or New Hampshire state agency shall be authorized by this section to act as agent for a branch or agency of an affiliated foreign bank other than the foreign bank which has been licensed to transact business in this state pursuant to this chapter.
III. A New Hampshire state branch or New Hampshire state agency of a foreign bank licensed under this chapter may not:
(a) Conduct any activity as an agent under this section which such office is prohibited from conducting as a principal under any applicable federal or state law, including but not limited to the acceptance of impermissible deposits; or
(b) As a principal, have an agent conduct any activity under this section which such office is prohibited from conducting under any applicable federal or state law, including but not limited to, the acceptance of impermissible deposits.
IV. An agency relationship between a New Hampshire state branch or New Hampshire state agency of a foreign bank licensed under this chapter and a depository institution affiliate or other affiliate of such foreign bank shall in any event be on terms that are consistent with safe and sound banking practices and all applicable rules and orders of the commissioner.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:17 - Representative Office of Foreign Banks; Necessity of Licensure.

384-F:17 Representative Office of Foreign Banks;  Necessity of Licensure. –
I. No foreign bank shall establish or maintain a New Hampshire state representative office unless such foreign bank is licensed by the commissioner to maintain such a New Hampshire representative office.
II. Nothing in paragraph I shall be deemed to prohibit a foreign bank which maintains a federal agency or federal branch in this state from establishing or maintaining one or more New Hampshire representative offices.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:18 - Representative Office; Application.

384-F:18 Representative Office;  Application. –
I. The application for a license to establish and maintain a New Hampshire representative office shall be in writing under oath and shall be in such form and contain such information as the commissioner may require by rule, adopted pursuant to RSA 541-A, or order. The application shall be accompanied by an application fee of $1,500.
II. Each application to establish and maintain a New Hampshire representative office shall include an instrument irrevocably appointing the commissioner or his or her successors in office to be such foreign bank's agent, representative, and attorney to receive service of any lawful judicial and administrative process in accordance with RSA 384-F:24.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:19 - Representative Office; Factors for Approval of Application.

384-F:19 Representative Office;  Factors for Approval of Application. –
I. A foreign bank making an application for a license to establish and maintain a New Hampshire representative office shall deliver to the commissioner 2 duplicate originals of the foreign bank's application.
II. The commissioner shall issue a license to a foreign bank to establish and maintain a New Hampshire representative office if he or she finds:
(a) That the foreign bank is of good character and sound financial standing;
(b) That the management of the foreign bank and the proposed management of the New Hampshire representative office are adequate; and
(c) That the convenience and needs of persons to be served by the proposed New Hampshire representative office will be promoted.
III. If the commissioner determines to issue a license to a foreign bank to establish and maintain a New Hampshire representative office, he or she shall, when all fees have been paid as required under this chapter:
(a) Endorse on each application the date of the filing thereof;
(b) File in his or her office one of such duplicate originals of the application; and
(c) Issue a license to establish and maintain a New Hampshire representative office to such foreign bank.
A duplicate original of the license issued by the commissioner, along with a certified copy of the foreign bank's charter or articles of incorporation and amendments thereto shall be filed with the New Hampshire secretary of state before such representative office shall commence business in the state of New Hampshire. A copy of any certificate or similar document issued by the secretary of state in connection with such filing shall be forthwith filed with the commissioner.
IV. Each license issued to a foreign bank to establish and maintain a New Hampshire representative office shall state fully the name of the foreign bank to which such license is issued, the address or addresses at which such New Hampshire representative office is to be located and all such other information as the commissioner may require under rules adopted pursuant to RSA 541-A.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:20 - Representative Office; Permissible Activities.

384-F:20 Representative Office;  Permissible Activities. –
I. A foreign bank which is licensed to establish and maintain a New Hampshire representative office may, subject to such rules as the commissioner may adopt pursuant to RSA 541-A, engage in the following activities:
(a) Solicitation for loans and in connection therewith the assembly of credit information, making of property inspections and appraisals, securing of title information, preparation of applications for loans including making recommendations with respect to action thereon, solicitation of investors to purchase loans from the foreign bank, and the search for such investors to contract with the foreign bank for servicing of such loans;
(b) The solicitation of new business;
(c) The conduct of research; and
(d) Back office administrative functions as may be more specifically defined in rules adopted by the commissioner under RSA 541-A.
Any other activity which the foreign bank seeks to conduct at such office shall be subject to the prior written approval of the commissioner by general rule or upon application in such form as the commissioner shall require by rules adopted pursuant to RSA 541-A or order.
II. Notwithstanding paragraph I, a New Hampshire representative office that is a regional administrative office of the foreign bank, as may be defined more fully by the commissioner in rules and orders, may engage in credit approval activities provided that the foreign bank (i) gives 45 days prior written notice to the commissioner; and (ii) the commissioner does not object within such 45 day period to the conduct of such activities by the New Hampshire representative office. Written notice under this paragraph shall be in such form and contain such information as the commissioner shall require by rule or order.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:21 - Representative Office; Revocation of License.

384-F:21 Representative Office;  Revocation of License. –
The commissioner, after notice and opportunity for a hearing, may revoke a license to establish and maintain a New Hampshire representative office if he or she finds:
I. The foreign bank has violated any provision of this chapter or any other law or rule of this state; or
II. Any fact or condition exists which, if it had existed at the time of the foreign bank's original application for such license, would have resulted in the commissioner refusing to issue such license to the foreign bank.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:22 - Posting of License.

384-F:22 Posting of License. –
Each foreign bank which is licensed to establish and maintain a New Hampshire state branch, New Hampshire state agency, or New Hampshire representative office shall post its license in a conspicuous place at such office.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:23 - Licenses Not Transferable.

384-F:23 Licenses Not Transferable. –
No license issued by the commissioner in accordance with this chapter shall be transferable or assignable.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:24 - Appointment of Commissioner as Agent for Service of Process.

384-F:24 Appointment of Commissioner as Agent for Service of Process. –
I. A foreign bank which is licensed to establish and maintain a New Hampshire state branch, New Hampshire state agency, or New Hampshire representative office shall file with the commissioner an instrument irrevocably appointing the commissioner and his or her successors in office to be such foreign bank's agent, representative, and attorney to receive service of any lawful process in any judicial or administrative proceeding against the foreign bank or any of its successors which arises out of the foreign bank's activities in this state after such appointment has been filed, with the same force and validity as if served directly on the foreign bank or its successor, as the case may be. Such appointment shall be in such form and contain such information as the commissioner may require by rules adopted pursuant to RSA 541-A or order.
II. Any foreign bank which establishes a New Hampshire state branch, New Hampshire state agency, or New Hampshire representative office and which has not filed with the commissioner an instrument pursuant to paragraph I of this section shall be deemed by the establishment of such office to have appointed the commissioner as its agent, representative, and attorney to receive service of any lawful process in any judicial or administrative proceeding against the foreign bank or any of its successors which arises out of the foreign bank's activities in this state, with the same force and validity as if served directly on the foreign bank or its successor, as the case may be.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:25 - Service of Process.

384-F:25 Service of Process. –
I. Service of any lawful process in any judicial or administrative proceeding against the foreign bank or any of its successors which arises out of the foreign bank's activities in this state shall be made on the commissioner by delivering to and leaving with him or her, or with any official having charge of his or her office, duplicate copies of such process, notice, or demand. If any process, notice, or demand is served on the commissioner, he or she shall immediately cause a copy thereof to be forwarded by registered mail addressed to such foreign bank at its principal office as the same appears in his or her records. Any service so had on the commissioner shall be returnable in not less than 30 days.
II. Nothing in this chapter limits or affects the right to serve any process, notice, or demand required or permitted by law to be served upon a foreign corporation in any other manner now or hereafter permitted by law.
III. The commissioner shall keep a record of all processes, notices, and demands served upon him or her under this section and shall record therein the time of such service and his or her action with reference thereto.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:26 - Filing of Amendments to Articles of Incorporation.

384-F:26 Filing of Amendments to Articles of Incorporation. –
A foreign bank which is licensed to maintain a New Hampshire state branch or New Hampshire state agency, whenever its articles of incorporation are amended, shall forthwith file with the commissioner a copy of such amendment duly authenticated by the proper officer of the country of such foreign bank's organization, but the filing thereof may not of itself enlarge or alter the purpose or purposes which such foreign bank is authorized to pursue in the transaction of its business in this state, nor authorize such foreign bank to transact business in this state under any name other than the name set forth in its license, nor extend the duration of its corporate existence.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:27 - Amended License to Establish and Maintain a Branch or Agency.

384-F:27 Amended License to Establish and Maintain a Branch or Agency. –
I. A foreign bank which is licensed to establish and maintain a New Hampshire state branch or New Hampshire state agency must secure an amended license if it changes its corporate name, changes the duration of its corporate existence, or desires to pursue in this state other or additional purposes than those set forth in its prior application under this chapter for a license, by making application therefor to the commissioner.
II. The requirements with respect to the form and contents of an application under paragraph I, the manner of its execution, the filing of duplicate originals thereof with the commissioner, the issuance of an amended license, the application fees, and the effect thereof shall be the same as in the case of an initial application for a license to establish and maintain a New Hampshire state branch or New Hampshire state agency.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:28 - Change of Control of Foreign Bank.

384-F:28 Change of Control of Foreign Bank. –
A foreign bank which is licensed to establish and maintain a New Hampshire state branch, New Hampshire state agency, or New Hampshire representative office shall file with the commissioner a notice, in such form and containing such information as the commissioner may prescribe by rules adopted under RSA 541-A no later than 14 calendar days after such foreign bank becomes aware of any acquisition of control of such foreign bank or merger with another foreign bank.
Source.
1997, 236:1, eff. July 1, 1997.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 384-F - The New Hampshire International Banking Act › Section 384-F:29 - Relocation of Office; Written Notice Necessary.

384-F:29 Relocation of Office;  Written Notice Necessary. –
I. No foreign bank which is licensed to establish and maintain a New Hampshire state branch, New Hampshire state agency, or New Hampshire representative office shall relocate any such office unless the foreign bank provides prior written notice to the commissioner and the commissioner has approved such relocation.
II. Written notice provided by a foreign bank under this section shall be in such form and contain such information as the commissioner shall require by rules, adopted pursuant to RSA 541-A, or order.
Source.
1997, 236:1, eff. July 1, 1997.