New Hampshire § 383-D:7-704 Effects of Transacting Business with the General Public

New Hampshire Statutes

§ 383-D:7-704 — Effects of Transacting Business with the General Public

New Hampshire § 383-D:7-704

Title XXXVBANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS

Ch. 383-DFAMILY TRUST COMPANY ACT

SubdivisionARTICLE 7Powers and Exemptions

This text of New Hampshire § 383-D:7-704 (Effects of Transacting Business with the General Public) 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:7-704 (2026).

Text

(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 app

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(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.