§ 384-F:1 — Title and Purposes

I. This chapter shall be known and may be cited as the "New Hampshire International Banking Act."
II. This chapter is intended generally to provide for state regulation of the participation by foreign banks in the financial markets of this state.
III. Consistent with the federal International Banking Act, the Bank Holding Company Act, the Federal Deposit Insurance Act, and the Interstate Banking and Branching Efficiency Act, this chapter is intended specifically:
(a) To authorize banking activities and operations, under state licenses issued by the bank commissioner, of direct branch and agency offices in this state of foreign banks, generally under terms and conditions not less favorable than the terms and conditions under which such activities and operations may be conducted by federal branch or agency offices of foreign banks in the United States, and to set forth a statutory framework for the licensing, regulation, and supervision of such state-licensed offices of foreign banks by the bank commissioner to assure the safe and sound operation of such offices that are licensed under the laws of this state;
(b) To authorize representative offices in this state of foreign banks, and to set forth statutory provisions governing the licensing and supervision of such offices by the bank commissioner; and
(c) To ensure that the banking laws and regulations of this state otherwise apply to foreign banks, and to New Hampshire and out-of-state banks and bank holding companies that are owned or controlled by foreign banks, in a manner consistent with the laws and policies of the United States governing the operations in this country of foreign banks.

Legislative History

1997, 236:1, eff. July 1, 1997.