New Hampshire § 383-D:3-302 Safety and Soundness

New Hampshire Statutes

§ 383-D:3-302 — Safety and Soundness

New Hampshire § 383-D:3-302

Title XXXVBANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS

Ch. 383-DFAMILY TRUST COMPANY ACT

SubdivisionARTICLE 3Qualifications; Safety and Soundness

This text of New Hampshire § 383-D:3-302 (Safety and Soundness) 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-D:3-302 (2026).

Text

(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 consi

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(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.