§ 383-B:10-1003 — Interstate Bank Combination

New Hampshire § 383-B:10-1003

• Jurisdiction: New Hampshire
• Title XXXV: BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
• Ch. 383-B: DEPOSITORY BANK ACT
• Subdivision: ARTICLE 10Interstate Banking

Text

(a) A depository bank may combine with any foreign bank. No combination shall be permitted which will result in a violation of the deposit limitation contained in RSA 383-B:9-906, except as provided in RSA 383-B:9-907.
(b) The depository bank shall be required to obtain all approvals necessary to combine with the foreign bank under New Hampshire law. The depository bank shall apply to the commissioner for approval of the proposed combination as required under RSA 383-A:6-602 and file with the commissioner a copy of each application or notice filed with federal or other state regulatory authorities relating to the combination at the same time such application or notice is filed with the federal or other state regulatory authorities. If it is permitted to do so by the commissioner under RSA 383-A:6-604, the depository bank may complete the combination with the foreign bank, subject to federal and other state approvals.
(c) If the resulting bank is a depository bank, it shall have all the powers held by the foreign bank with which it combined under the laws of the state in which each branch office is located, subject to the duties and restrictions thereof. In addition to any regulation by regulatory authorities in the state where a branch office is located, each branch office of the depository bank located outside of New Hampshire shall be subject to regulation by the commissioner as if such branch office were located in New Hampshire and shall comply with New Hampshire law in the conduct of its business in such other state unless otherwise required or permitted under the laws of such other state.
(d) If the resulting bank is a foreign bank, it shall have all the powers held by the depository bank with which it combined under New Hampshire law, subject to the duties and restrictions thereof. Any branch office located in New Hampshire of a foreign bank, other than a national bank or federal savings association, shall be regulated by the commissioner as if the branch office were a branch office of a depository bank. Any foreign bank having a branch office located in New Hampshire shall comply with New Hampshire law in the conduct of its business in New Hampshire. No branch office of a foreign bank shall be permitted to engage in any activity not permissible for a depository bank. Notwithstanding the foregoing, if the foreign bank is a national bank or a federal savings association, it shall comply with New Hampshire law to the maximum extent allowed under federal law.

Legislative History

2015, 272:16, eff. Oct. 1, 2015.