New Hampshire § 383-D:6-602 Required Capital

New Hampshire Statutes

§ 383-D:6-602 — Required Capital

New Hampshire § 383-D:6-602

Title XXXVBANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS

Ch. 383-DFAMILY TRUST COMPANY ACT

SubdivisionARTICLE 6Capital and Insurance

This text of New Hampshire § 383-D:6-602 (Required Capital) 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:6-602 (2026).

Text

(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

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(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.