reglab/statecodes huggingface dataset:
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-C - Trust Company Act › Section 383-C:14-1401 - Regular Examination.

383-C:14-1401 Regular Examination. –
I. Subject to RSA 383-C:14-1402, the commissioner shall examine the condition and management of a trust company every 18 months, or more often when necessary in his or her judgment.
II. For trust companies that qualify under paragraph III, the commissioner may alternate every 18 months between conducting an examination of the entity and either waiving one examination, or accepting the examination report of a federal or state regulator or group of regulators with authority to conduct a similar type of examination of the entity.
III. A trust company qualifies for examination treatment under paragraph II if:
(a) It has consistently been given high ratings in past exams.
(b) It is not currently subject to an enforcement proceeding or order.
(c) The commissioner has deemed it prudent to apply this paragraph and paragraph II.
Source.
2017, 257:37, eff. Sept. 16, 2017. 2019, 168:13, eff. July 10, 2019.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:1-101 - Short Title.

383-D:1-101 Short Title. –
This chapter shall be known and may be cited as the "Family Trust Company Act."
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:1-102 - Scope.

383-D:1-102 Scope. –
This chapter applies to family trust companies. A family trust company is a state bank and also is a trust company. Except as otherwise provided in this chapter, RSA 383-A and RSA 383-C apply to family trust companies.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:1-103 - Reservation of Power to Amend or Repeal.

383-D:1-103 Reservation of Power to Amend or Repeal. –
The general court has power to amend or repeal all or part of this chapter at any time, and all persons subject to this chapter are governed by the amendment or repeal.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:1-104 - Commissioner.

383-D:1-104 Commissioner. –
The commissioner shall have the powers necessary or incidental to performing all of the commissioner's duties under this chapter, including the power to adopt rules as provided in this chapter in accordance with RSA 541-A. All rules previously adopted by the commissioner relating to the subject matter of this chapter shall be subject to RSA 541-A:17.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:1-105 - Confidential Information.

383-D:1-105 Confidential Information. –
(a) Except to the extent that disclosure of confidential information is permissible under RSA 383:10-b, RSA 383-A:3-305(f), or RSA 383-A:5-511(c), family trust company information is confidential, is not subject to subpoena, and is not subject to public disclosure.
(b) For purposes of this section, "family trust company information" includes the following information:
(1) Any of its information that is confidential under RSA 383:10-b or RSA 383-A:5-511(c);
(2) The name, date of birth, and any other identifying information of the designated relative;
(3) The names, addresses, and equity interests of the family trust company's equity owners;
(4) Capital contributions to the family trust company;
(5) The family trust company's directors and officers;
(6) The addresses of the family trust company's offices;
(7) The names and addresses of the family trust company's affiliates;
(8) The family trust company's business affiliations;
(9) Any information that the family trust company provides to the commissioner (whether in an application, in a report, in the course of an examination, or otherwise);
(10) Any information that the commissioner obtains in the course of an examination;
(11) An examination report;
(12) Any person's nonpublic personal financial information as defined in 15 U.S.C. section 6809(4);
(13) Any information relating to any conversion, combination, reorganization, domestication, or dissolution of a family trust company; and
(14) Any information relating to any transfer of an equity interest in a family trust company.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:3-301 - Qualifications.

383-D:3-301 Qualifications. –
A family trust company shall provide trust, investment, and other services only to family clients. A family trust company's organizational documents shall prohibit the family trust company from transacting business with the general public.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:3-302 - Safety and Soundness.

383-D:3-302 Safety and Soundness. –
(a) For purposes of determining the safety or soundness of a family trust company or any act that a family trust company has taken or proposes to take, the following shall apply:
(1) Subject to subsection (b), the commissioner shall consider the factors described in RSA 383-C:4-401;
(2) The commissioner shall give primary consideration to whether the family trust company poses a harm to the general public; and
(3) To the extent that the family trust company does not pose a harm to the general public and subject to the requirements of this chapter, the family trust company shall have broad latitude to determine how it is organized and how it will operate its affairs.
(b) For purposes of applying the factors described in RSA 383-C:4-401 to a family trust company, the commissioner shall consider that:
(1) The family trust company's market is serving family clients; and
(2) The family trust company's financial success is determined by the avoidance of net losses over multiple years.
(c) A family trust company poses a harm to the general public if the family trust company:
(1) Transacts business with the general public;
(2) Fails to establish and maintain procedures reasonably designed to assure and monitor its compliance with applicable anti-money laundering and similar laws; or
(3) Engages in any other activity that the commissioner determines poses a direct, material harm to the general public.
Source.
2015, 272:16, eff. Oct. 1, 2015. 2017, 257:39, eff. Sept. 16, 2017.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:4-401 - Family Client.

383-D:4-401 Family Client. –
(a) With the commissioner's prior approval, a family trust company may designate a person as a family client if that person has a close and continuous relationship with one or more family clients.
(b) A person is a family client for one year after an involuntary event that otherwise would cause the person to cease to qualify as a family client. If, as the result of an involuntary event, a person becomes a client of the family trust company but does not otherwise qualify as a family client, then the person is a family client for one year after the involuntary event. For purposes of this subsection, aninvoluntary eventmeans an event that is not within the reasonable control of the family trust company or a family client, including the divorce or death of a family member, a former family member, a key employee, or former key employee. The revocation of an individual's designation as a key employee under RSA 383-D:4-403(b) is not an involuntary event.
(c) If a person who, immediately before a change of the designated relative as provided in RSA 383-D:10-1002 or a change of the method of determining family members as provided in RSA 383-D:10-1003, was a family client and a client of the family trust company, then that person is a family client for one year after the effective date of the change.
(d) In the case of a family trust company that makes an election under RSA 383-D:4-402(b), "family client" includes any person to whom the family trust company could provide services if the family trust company qualified as a family office under 15 U.S.C. section 80b-2(a)(11)(G).
Source.
2015, 272:16, eff. Oct. 1, 2015. 2017, 257:40, eff. July 18, 2017.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:4-402 - Family Member.

383-D:4-402 Family Member. –
(a) Subject to subsections (a) and (b), "family member" means any of the following individuals:
(1) The designated relative;
(2) Except as otherwise provided in subsection (b), an individual who is within (i) the fifth degree of lineal kinship to the designated relative or (ii) the ninth degree of collateral kinship to the designated relative; or
(3) A spouse or former spouse of an individual described in subsection (a)(1) or (a)(2).
(b) In lieu of the method for determining family members under subsection (a)(2), a family trust company may elect to treat as a family member any individual who is the designated relative's lineal descendant and is not more than 10 generations removed from the designated relative. A family trust company that wishes to use this alternate method shall make the election on its application under RSA 383-D:5-502 or file with the commissioner a notice in accordance with RSA 383-D:10-1003.
(c) For purposes of subsections (a)(2) and (b), a family member's child includes the family member's adopted child, stepchild, or foster child or an individual who was a minor when the family member became that individual's guardian.
(d) For purposes of this section, "lineal kinship" means a family member who is in the direct line of ascent or descent from the designated relative, and "collateral kinship" means a relationship that is not lineal, but stems from a common ancestor. Degrees are calculated by adding the number of steps from the designated relative through each person to the family member either directly in the case of lineal kinship or through the common ancestor in the case of collateral kinship.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:4-403 - Key Employee.

383-D:4-403 Key Employee. –
(a) For purposes of RSA 383-D:2-201(b)(10)(A), an individual who solely performs clerical, secretarial, or administrative functions for the family trust company, eligible trust, family entity, or family charitable organization does not participate in trust services or the entity's management.
(b) In addition to any individual who is a key employee under RSA 383-D:2-201(b)(10)(A) or (B), a family trust company may designate as a key employee an individual who is a current or former employee of the family trust company, an eligible trust, a family entity, or a family charitable organization. A family trust company may revoke any designation of an individual as a key employee. At any time, the number of individuals designated as key employees under this subsection shall not exceed 35.
Source.
2015, 272:16. 2016, 230:4, eff. Aug. 8, 2016.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:4-404 - Former Key Employee.

383-D:4-404 Former Key Employee. –
(a) After an individual becomes a former key employee, that individual does not qualify as a former key employee with respect to any new trust, investment, or other service, except as otherwise provided in subsection (b).
(b) An individual is a former key employee only to the extent of (i) trust, investment, or other services that the family trust company was providing to that individual (or an eligible trust of which the individual or the individual's spouse was a settlor) immediately before the individual became a former key employee and (ii) any trust, investment, or other service in connection with any additional investments that, with respect to an investment that the family trust company advises or manages, the individual (or an eligible trust of which the individual or the individual's spouse was a settlor) was contractually obligated to make before the individual became a former key employee.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:4-405 - Eligible Trust.

383-D:4-405 Eligible Trust. –
A trust is not an eligible trust if the commissioner determines that the trust was formed or is administered for the primary purpose of evading the limitations of this chapter.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:4-406 - Family Entity.

383-D:4-406 Family Entity. –
An entity is not a family client if the commissioner determines that the entity was organized or is operated for the primary purpose of evading the limitations of this chapter.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:4-407 - Family Charitable Organization.

383-D:4-407 Family Charitable Organization. –
A charitable organization is not a family client if the commissioner determines that it was organized or is operated for the primary purpose of evading the limitations of this chapter.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:5-501 - General.

383-D:5-501 General. –
Except as otherwise provided in this chapter, a family trust company shall be organized in accordance with RSA 383-A.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:5-501A - Type of Entity.

383-D:5-501A Type of Entity. –
(a) A family trust company may be organized as:
(1) A corporation under the Corporation Act;
(2) A limited liability company under the LLC Act; or
(3) A foundation under RSA 564-F.
(b) RSA 383-A:3-303(a) shall not apply to family trust companies.
Source.
2017, 257:41, eff. Oct. 1, 2017.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:5-502 - Application.

383-D:5-502 Application. –
In addition to any other information that the application may or must contain under RSA 383-A:3-305, the application shall include (i) the designated relative's name and date of birth and (ii) any request for exemption under RSA 383-D:7-702. For purposes of determining family members, the application may include an election to use the alternate method described in RSA 383-D:4-402(b). Unless the application includes that election or the family trust company elects the alternate method in accordance with RSA 383-D:10-1003, the method described in RSA 383-D:4-402(a) shall apply.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:5-503 - Review of Application.

383-D:5-503 Review of Application. –
(a) In considering whether to approve or deny an application for a family trust company charter, the commissioner shall consider the trust company's safety and soundness in accordance with RSA 383-D:3-302.
(b) During the course of his or her review of an application, the commissioner may propose that the organizer amend or supplement the application for purposes of ensuring that the family trust company meets the requirements of a family trust company under this chapter, RSA 383-A, and RSA 383-C and ensuring the family trust company's safety and soundness. The organizer may amend or supplement the application in accordance with the commissioner's proposal.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:5-504 - Exemptions From Public Notice and Hearing.

383-D:5-504 Exemptions From Public Notice and Hearing. –
(a) The organizer of a family trust company is exempt from publishing any notice of their application for a family trust company charter. RSA 383-A:3-305(b)(2) shall not apply to the organizer of a family trust company.
(b) The commissioner shall not order a hearing in connection with any application for a family trust company charter. RSA 383-A:3-307 shall not apply to the organizer of a family trust company.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:5-505 - Action on Application.

383-D:5-505 Action on Application. –
Upon the completion of his or her review of the application, the commissioner shall issue a notice of decision and a charter in accordance with RSA 383-A:3-308(a) or a notice of denial in accordance with RSA 383-A:3-308(b). If the commissioner approves the application, then, in addition to the information that the notice must include under RSA 383-A:3-308(a), the notice of decision shall include a statement specifying each exemption granted or denied.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:5-506 - Conversion Into a Trust Company.

383-D:5-506 Conversion Into a Trust Company. –
A family trust company may apply to convert to a trust company that is authorized to transact business with the general public by filing an application for a trust company charter in accordance with article 3 of RSA 383-A. RSA 383-A and RSA 383-C shall govern the application, and this chapter shall not apply to the application. The conversion shall be effective upon the issuance of a certificate authority granting the entity the authority to transact trust business, including transacting business with the general public. Upon the conversion's effective date, the entity shall cease to be a family trust company, and any exemptions granted under this chapter shall terminate.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:6-601 - General.

383-D:6-601 General. –
A family trust company shall maintain the required capital under RSA 383-D:6-602, a fidelity bond under RSA 383-A:4-405, and an errors and omissions liability insurance policy under RSA 383-A:4-406. For purposes of determining the appropriate amounts of required capital, fidelity bond coverage, and errors and omissions liability insurance coverage, the commissioner shall consider the family trust company's safety and soundness and shall give primary consideration to the liability insurance coverage, which provides the primary protections for a family trust company's family clients. In addition to the requirements in RSA 383-A:4-405 and RSA 383-A:4-406, any insurance deductible shall be reasonable and shall not jeopardize the safe and sound operation of the family trust company. RSA 383-C:5-501 shall not apply to family trust companies.
Source.
2015, 272:16, eff. Oct. 1, 2015. 2019, 169:15, eff. Sept. 8, 2019.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:6-602 - Required Capital.

383-D:6-602 Required Capital. –
(a) The minimum required capital of a family trust company is $200,000. The commissioner may require a family trust company to maintain additional capital. From time to time, the commissioner may reduce or increase the amount of additional capital that a family trust company is required to maintain.
(b) After it obtains the authority to exercise trust powers, a family trust company shall maintain an amount of capital that equals or exceeds the required capital.
(c) A family trust company shall not make any distribution to the extent that, upon making the distribution, the family trust company's total capital would be less than the required capital.
(d) For purposes of subsection (c), "distribution" means a direct or indirect transfer of money or other property (except an equity interest in the family trust company) to or for the benefit of family trust company's equity owners in respect of any of equity interests in the family trust company.
(e) RSA 383-C:5-502(a) and (b) shall not apply to family trust companies.
Source.
2015, 272:16, eff. Oct. 1, 2015. 2017, 257:42, eff. Sept. 16, 2017.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:6-603 - Liquidation Pledge.

383-D:6-603 Liquidation Pledge. –
A family trust company is exempt from RSA 383-C:5-503.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:7-701 - Powers.

383-D:7-701 Powers. –
A family trust company shall have the powers granted to a trust company under RSA 383-C, excluding the power to transact business with the general public. A family trust company shall not transact business with the general public.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:7-702 - Grant of Exemptions.

383-D:7-702 Grant of Exemptions. –
(a) Subject to subsection (b), the commissioner may exempt a family trust company from any one or more requirements of RSA 383-A, RSA 383-C, and this chapter.
(b) The commissioner shall not have the power to exempt a family trust company from any of the following requirements:
(1) the qualifications of a family trust company under RSA 383-D:3-301;
(2) the requirements for organization under article 5 of this chapter;
(3) the requirement to maintain capital that equals or exceeds the minimum required capital under RSA 383-D:6-602;
(4) the requirement to maintain an errors and omissions liability insurance policy under RSA 383-A:4-406; and
(5) the prohibition against accepting deposits under RSA 383-C:3-302.
(c) In the application under RSA 383-D:5-502, a family trust company's organizer may request one or more exemptions. After obtaining its certificate of authority to exercise trust powers, a family trust company may request one or more exemptions by filing with the commissioner an application for exemption.
(d) The commissioner may grant or deny, in whole or in part, any requested exemption, and the commissioner may impose one or more reasonable conditions or limitations on any exemption that the commissioner grants.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:7-703 - Modification or Revocation of Exemptions.

383-D:7-703 Modification or Revocation of Exemptions. –
The commissioner may modify or revoke any exemption granted to a family trust company under RSA 383-D:7-702 if (i) the commissioner determines that, based upon the safety and soundness of the family trust company or any action that the family trust company has taken or proposes to take, modification or revocation is necessary or advisable or (ii) the family trust company fails to comply with this chapter or any other applicable laws. A modification of an exemption includes the imposition of one or more reasonable conditions or limitations on that exemption.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:7-704 - Effects of Transacting Business with the General Public.

383-D:7-704 Effects of Transacting Business with the General Public. –
(a) Any action by a family trust company in its capacity as a trustee or other fiduciary shall not be void or voidable solely by reason of the entity transacting business with the general public.
(b) To the extent that a family trust company transacts business with the general public, each of its directors and executive officers shall be personally, jointly, and severally liable for all liabilities created by transacting business with the general public, including any breach of a fiduciary duty to a member of the general public.
(c) The directors' and officers' liability under subsection (b) is in addition to any civil or criminal penalties imposed by this title or other applicable law.
(d) This section shall not limit the commissioner's enforcement powers under this title or any other applicable law, including the power to order restitution for a violation of this title and other applicable laws and each of the other powers under RSA 383:10-d.
Source.
2017, 257:43, eff. July 18, 2017.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:8-801 - Board of Directors.

383-D:8-801 Board of Directors. –
(a) A family trust company shall have a board of directors, and that board of directors must have not less than three members. A director need not be a resident of New Hampshire or a citizen of the United States, unless otherwise required by the commissioner in consideration of the family trust company's safety and soundness. RSA 383-C:6-601(a) shall not apply to family trust companies.
(b) Subject to any limitations set forth in its organizational documents, this chapter, and RSA 383-C, all of the family trust company's powers shall be exercised by or under the authority of the family trust company's board of directors.
Source.
2015, 272:16, eff. Oct. 1, 2015. 2021, 194:19, eff. Oct. 9, 2021.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:8-802 - Standard of Care.

383-D:8-802 Standard of Care. –
(a) Except as provided in subsections (b) and (c), RSA 383-A:5-505 applies to a director or officer of a family trust company.
(b) A director or officer of a family trust company shall not be personally liable to any person to the extent that, in the performance of his or her duties, the director or officer acts in good faith. In connection with any matter involving a trust, a director or officer acts in good faith to the extent that he or she acts in reasonable reliance on the terms of the trust, a nonjudicial settlement agreement under RSA 564-B:1-111, or a court order.
(c) A family trust company may indemnify a director or officer against any liability, except to the extent that a court determines that the director or officer failed to act in good faith.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:9-901 - Trust Offices.

383-D:9-901 Trust Offices. –
In accordance with RSA 383-C:7-701 through RSA 383-C:7-703, a family trust company may open, close, or relocate any trust office at which it exercises trust powers or otherwise transacts business.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:10-1001 - Reports and Certification.

383-D:10-1001 Reports and Certification. –
(a) In addition to filing an annual report in accordance with RSA 383-A:5-510(a), a family trust company shall file with the commissioner an annual certification certifying that the family trust company is in compliance with:
(1) the provisions of this chapter; and
(2) the conditions and limitations of all exemptions granted by the commissioner under RSA 383-D:7-702.
(b) In its annual certification, a family trust company may change its designated relative in accordance with RSA 383-D:10-1002.
(c) A family trust company's annual certification is due on the same day as its annual report.
(d) A family trust company shall file quarterly reports in accordance with RSA 383-A:5-510, and it shall file copies of other documents as required under RSA 383-A:5-511.
(e) A family trust company shall, at the same time it files the annual report of condition pursuant to RSA 383-A:5-510, report to the commissioner the work address and other contact information where each executive officer of the family trust company conducts trust business and the residential address of all directors, which information shall be kept confidential by commissioner pursuant to RSA 383:10-b.
(f) A family trust company shall have a continuing obligation to update the information reported pursuant to subsection (e) within 30 days of any change.
(g) A family trust company failing to report the information required pursuant to subsections (e) and (f) within the prescribed time period shall pay to the commissioner a penalty of $50 for each day such a report is overdue.
Source.
2015, 272:16, eff. Oct. 1, 2015. 2017, 209:4, eff. Sept. 8, 2017; 257:44, eff. Sept. 8, 2017 at 12:01 a.m. 2019, 169:16, eff. Sept. 8, 2019.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:10-1002 - Change of Designated Relative.

383-D:10-1002 Change of Designated Relative. –
(a) A family trust company may change its designated relative by filing with the commissioner notice in which the family trust company designates a new designated relative.
(b) Except with the commissioner's prior approval, a family trust company cannot change its designated relative more than once every 10 years after the issuance of its certificate of authority.
(c) Except with the commissioner's prior approval, the change of a family trust company's designated relative is effective on January 1 of the year after in which the family trust company files its notice with the commissioner.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:10-1003 - Change of Method of Determining Family Members.

383-D:10-1003 Change of Method of Determining Family Members. –
(a) For purposes of determining family members, a family trust company may elect to use the method described in RSA 383-D:4-402(a) or the alternate method described in RSA 383-D:4-402(b). The family trust company may change its election by filing with the commissioner a notice of the change.
(b) Except with the commissioner's prior approval, a family trust company cannot change its election more than once every 10 years after the issuance of its certificate of authority.
(c) Except with the commissioner's prior approval, the new method is effective on January 1 of the year after which the family trust company files its notice with the commissioner.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:10-1004 - Exemption From Public Hearings.

383-D:10-1004 Exemption From Public Hearings. –
In connection with any matter subject to the procedural rules under article 6 of RSA 383-A, the commissioner shall not order a public hearing. To the extent that RSA 383-A:6-604 authorizes the commissioner to hold a public hearing, RSA 383-A:6-604 shall not apply to a family trust company.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:10-1005 - Exemption from Annual Audits.

383-D:10-1005 Exemption from Annual Audits. –
(a) A family trust company may apply for an exemption from RSA 383-A:5-509 by filing with the commissioner an application for exemption.
(b) In accordance with RSA 383-A:6-604, the commissioner shall make a determination as to whether to grant to the family trust company an exemption from RSA 383-A:5-509.
(c) In determining whether to grant an exemption from RSA 383-A:5-509, the commissioner shall consider whether:
(1) The family trust company can maintain its safety and soundness without a financial audit;
(2) The cost of a financial audit would be an undue financial burden on the family trust company; and
(3) The family trust company has established and will maintain procedures that will ensure that its financial statements are accurate and complete.
(d) The commissioner may revoke an exemption granted under this section if he or she determines that a financial audit is necessary to ensure that:
(1) The family trust company maintains its safety and soundness; or
(2) The family trust company's financial statements are accurate and complete.
Source.
2017, 257:45, eff. Sept. 16, 2017.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:11-1101 - Examination.

383-D:11-1101 Examination. –
(a) The commissioner shall examine a family trust company every 36 months, or more often when necessary in his or her judgment.
(b) RSA 383-C:14-1401 and RSA 383-C:14-1402 shall not apply to a family trust company.
Source.
2015, 272:16, eff. Oct. 1, 2015. 2017, 209:2, eff. Sept. 8, 2017; 257:46, eff. Sept. 8, 2017 at 12:01 a.m. 2021, 51:7, eff. July 24, 2021.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:11-1102 - Repealed by 2017, 257:59, I, eff. Sept. 8, 2017 at 12:01 a.m.

383-D:11-1102 Repealed by 2017, 257:59, I, eff. Sept. 8, 2017 at 12:01 a.m. –
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:12-1201 - Voluntary Dissolution.

383-D:12-1201 Voluntary Dissolution. –
A family trust company may voluntarily dissolve in accordance with RSA 383-C:10-1001 through RSA 383-C:10-1007.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:12-1202 - Revocation of Authority to Conduct Trust Business.

383-D:12-1202 Revocation of Authority to Conduct Trust Business. –
(a) If the commissioner determines that a family trust company is or has engaged in any activity that jeopardizes its safety or soundness, then the commissioner may revoke the family trust company's authority to conduct trust business.
(b) The commissioner shall issue a notice to the family trust company following the revocation of its authority granting it an opportunity for a hearing in accordance with RSA 541-A. The family trust company may appeal the commissioner's decision under RSA 541.
(c) The revocation of a family trust company's authority to conduct trust business removes the family trust company as a trustee, trust advisor, or trust protector of each trust of which it is serving as a trustee, trust advisor, or trust protector.
(d) Within a reasonable time after the revocation of its authority to conduct trust business, a family trust company shall dissolve in accordance with its organizational documents.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:13-1301 - Authority to Exercise Trust Powers.

383-D:13-1301 Authority to Exercise Trust Powers. –
(a) A foreign family trust company may engage in trust business in this state. A foreign family trust company that exercises trust powers in this state is subject to this chapter and, except as otherwise provided in this chapter, RSA 383-A and RSA 383-C. RSA 383-C:11-1101 shall not apply to foreign family trust companies.
(b) For purposes of this chapter, "foreign family trust company" means a foreign trust company that (i) is organized in a state or jurisdiction other than New Hampshire and (ii) is authorized under the laws of that state or jurisdiction to provide trust, investment, and other services principally to members of one or two families and entities in which one or more of those family members have substantial interests. Under those laws, a trust company meeting those qualifications commonly is called a family trust company or a private trust company.
(c) A foreign trust company is not a foreign family trust company if the commissioner determines that the foreign trust company was organized or is operated for the primary purpose of evading the limitations of this chapter.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:13-1302 - Trust Offices.

383-D:13-1302 Trust Offices. –
In accordance with RSA 383-C:11-1102, a foreign family trust company may open, close, or relocate any trust office at which it exercises trust powers or otherwise transacts business.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:13-1303 - Examination.

383-D:13-1303 Examination. –
The commissioner may examine a foreign family trust company as provided in RSA 383-D:11-1101. RSA 383-C:11-1103 shall not apply to foreign family trust companies.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:13-1304 - Filings With the Secretary of State.

383-D:13-1304 Filings With the Secretary of State. –
A foreign family trust company shall file with the commissioner (i) a true and complete copy of each document that the foreign family trust company submits for filing with the New Hampshire secretary of state and (ii) a copy of any notice or other document that the foreign family trust company receives from the New Hampshire secretary of state. RSA 383-C:11-1104 shall not apply to foreign family trust companies.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-D - Family Trust Company Act › Section 383-D:13-1305 - Domestication.

383-D:13-1305 Domestication. –
A foreign family trust company may domesticate in accordance with RSA 383-C:11-1104 if, upon its domestication, it will qualify as a family trust company under RSA 383-D:3-301.
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:1-101 - Short Title.

383-E:1-101 Short Title. –
This chapter shall be known and may be cited as the "Credit Union Act."
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:1-102 - Scope.

383-E:1-102 Scope. –
This chapter applies to state and foreign credit unions. RSA 383-A also applies to credit unions, except as otherwise provided in that chapter.
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:1-103 - Reservation of Power to Amend or Repeal.

383-E:1-103 Reservation of Power to Amend or Repeal. –
The general court has power to amend or repeal all or part of this chapter at any time and all persons subject to this chapter are governed by the amendment or repeal.
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:1-104 - Commissioner.

383-E:1-104 Commissioner. –
The commissioner has the powers necessary or incidental to performing all of the commissioner's duties under this chapter, including the power to adopt rules as provided in this chapter in accordance with RSA 541-A. All rules previously adopted by the commissioner relating to the subject matter of this chapter shall be subject to RSA 541-A:17, except for rules adopted under RSA 394-A:7 which shall continue in full force and effect until amended or repealed.
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:2-201 - Definitions.

383-E:2-201 Definitions. –
(a) Each term defined under RSA 383-A shall have the same meaning for purposes of this chapter.
(b) For purposes of this chapter, the following definitions apply:
(1) "Branch office" means a place or location, other than its main office, at which a credit union receives the money of its members on deposit and in payment of shares or makes loans or receives payments on loans, but shall not include an office that provides only administrative services or support for its activities. The commissioner may define by rule which administrative services or support for a credit union's activities would qualify for exemption from this definition and the procedure for requesting such exemption.
(2) "Federal credit union" means a credit union chartered under federal law.
(3) "Foreign credit union" means a credit union that is chartered by another state.
(4) "State credit union" means a credit union chartered by this state.
Source.
2015, 272:16, eff. Oct. 1, 2015. 2019, 169:18, eff. July 10, 2019.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:3-301 - Agreement; Bylaws.

383-E:3-301 Agreement;  Bylaws. –
Seven or more persons, resident in this state, who have associated themselves by an agreement in writing with the intention of organizing a corporation for the purpose of accumulating and investing the savings of its members and making loans to members for provident purposes, may apply to the commissioner under RSA 383-E:3-304 to become a corporation which complies with the provisions of this chapter. The organizer shall prepare bylaws to govern the credit union. The bylaws shall prescribe the name of the corporation, the purposes for which it was formed, the conditions of residence, occupation, or association which qualify persons for membership, the par value of the paid-in shares, the number of directors, the number of members of the supervisory committee, and the number of members of the credit committee, if such committee is to be established, the duties of the several officers, the fines, if any, which shall be charged for failure to meet obligations to the corporation punctually, the date of the annual meeting of members, the manner in which members shall be notified of meetings, the number of members which shall constitute a quorum at meetings and such other regulations as may seem necessary.
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:3-302 - Name.

383-E:3-302 Name. –
A corporation organized under this chapter shall be known as a credit union, and its corporate name shall include the 2 words "credit union." Other distinguishing words may be used by permission of the commissioner.
Source.
2015, 272:16, eff. Oct. 1, 2015.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:3-303 - Limitation on Use of Words "Credit Union."

383-E:3-303 Limitation on Use of Words "Credit Union." –
Except associations heretofore incorporated, no person shall use a name or title containing the words "credit union" or any derivation thereof or be represented in the person's advertising or otherwise, as conducting business as a credit union, except a credit union organized under the provisions of this chapter, or under the Federal Credit Union Act, or except organizations whose membership is composed exclusively of credit unions.
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:3-305 - Investigative Powers.

383-E:3-305 Investigative Powers. –
For the purpose of any investigation or examination under this chapter, the commissioner shall have the power to subpoena witnesses and administer oaths in any adjudicative proceedings, and to compel, by subpoena duces tecum, the production of all books, records, files, and other documents and materials relevant to his or her investigation or examination.
Source.
2015, 272:16, eff. Oct. 1, 2015. 2019, 168:14, eff. July 10, 2019.
2023 New Hampshire Revised Statutes › Title XXXV - Banks and Banking; Loan Associations; Credit Unions › Chapter 383-E - Credit Union Act › Section 383-E:3-306 - Hearing.

383-E:3-306 Hearing. –
The commissioner may order within his or her discretion a public hearing on the application. The commissioner may approve or deny the application with or without a public hearing. Any required public hearing shall be held at the time and place fixed by the commissioner and a notice of the hearing shall be published in accordance with RSA 91-A. The commissioner may prescribe reasonable procedural rules to govern the proceedings, including rules for maintaining the confidentiality of the portions of the application, the commissioner's investigation, and the proceedings of the commissioner that include confidential information or are determined by the commissioner or otherwise determined by law to be confidential.
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:3-307 - Action on Application.

383-E:3-307 Action on Application. –
(a) If the commissioner determines that the application meets all of the requirements of this chapter and other applicable federal and state laws, the commissioner shall grant a charter to the credit union by issuing a notice of approval of the organization of the credit union, subject to such terms and conditions as determined by the commissioner, and endorsing the credit union's bylaws to indicate the commissioner's approval.
(b) If the application is denied, it shall be dismissed and no new application concerning the same proposal may be filed within one year thereafter.
(c) If the commissioner determines that the application does not satisfy the standards in RSA 383-E:3-307(a), but could satisfy the standards if the application were revised, he or she shall so notify the organizer; and in such case the organizer may refile the application under RSA 383-A:6-602.
Source.
2015, 272:16, eff. Oct. 1, 2015.