New Hampshire § 383-A:5-512 Service Entities

New Hampshire Statutes

§ 383-A:5-512 — Service Entities

New Hampshire § 383-A:5-512

Title XXXVBANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS

Ch. 383-ABANK AND CREDIT UNION REGULATORY AND ENFORCEMENT

SubdivisionARTICLE 5Management and Operations

This text of New Hampshire § 383-A:5-512 (Service Entities) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 383-A:5-512 (2026).

Text

(a)The purpose of this section is to maintain competitive equality between federally chartered and state-chartered institutions while providing for the safe and sound operation of state-chartered institutions.

(b)Subject to any limitations set forth in the Depository Bank Act (RSA 383-B) and the Credit Union Act (RSA 383-E), a depository bank or credit union may engage with a service entity to the same extent it is permissible for a federal credit union, national bank, or federal savings bank or its subsidiaries to do so under federal law.

(c)For the purposes of this section, to engage with a service entity means to establish, acquire, make loans to, contract with, or invest in the equity interest, obligations, or other securities of a service entity, or to otherwise participate in or u

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(a) The purpose of this section is to maintain competitive equality between federally chartered and state-chartered institutions while providing for the safe and sound operation of state-chartered institutions.
(b) Subject to any limitations set forth in the Depository Bank Act (RSA 383-B) and the Credit Union Act (RSA 383-E), a depository bank or credit union may engage with a service entity to the same extent it is permissible for a federal credit union, national bank, or federal savings bank or its subsidiaries to do so under federal law.
(c) For the purposes of this section, to engage with a service entity means to establish, acquire, make loans to, contract with, or invest in the equity interest, obligations, or other securities of a service entity, or to otherwise participate in or utilize the service of such service entity, whether individually or together with other depository banks, credit unions, or other financial institutions.
(d) A depository bank or credit union shall maintain, or shall contract with the service entity to maintain, sufficient records related to the depository bank's or credit union's engagement with the service entity to enable the commissioner to determine whether the depository bank or credit union is in compliance with the provisions of this chapter and any limitations set forth in the Depository Bank Act (RSA 383-B), and the Credit Union Act (RSA 383-E).
(e) If any proposed engagement with a service entity is not expressly enumerated as a permissible engagement under federal law, but falls within the intent of federal law, the commissioner may authorize the proposed engagement by rule or order, provided such engagement is consistent with the purpose of this section, supports the general business needs of the depository bank or credit union, promotes the interests of its customers, and will not jeopardize the safe and sound operation of the depository bank or credit union.