§412:3-603  Procedure for
applications pursuant to this part.  Whenever the written approval of the
commissioner is required with respect to any transaction covered by this part,
the following procedures shall apply:



(1)  An application for approval by the commissioner
pursuant to this part shall be on a form prescribed by the commissioner and
shall contain any information, data, and records as the commissioner may
require.  As far as possible consistent with the effective discharge of the
commissioner's responsibilities, the commissioner shall prescribe the use of
forms currently prescribed by the appropriate federal regulatory agency of
financial institutions and financial institution holding companies for
identical or similar types of transactions.  The application shall be
accompanied by an application fee established by the commissioner pursuant to
section 412:2-105.  The application fee shall not be refundable;



(2)  If any material change occurs in the facts set
forth in an application, or if for any other reason the applicant desires to
amend the application, an amendment setting forth any change, together with
copies of all documents and other material relevant to the change, shall be
filed with the commissioner.  Within twenty days after receiving an application
or any amendment thereto, the commissioner may request any additional
information necessary in deciding whether to approve a proposed transaction
pursuant to this part.  The applicant shall submit the additional information
in a reasonable time thereafter, as may be specified by the commissioner;



(3)  If the commissioner would approve a plan of
conversion, merger, or consolidation, an acquisition of assets or assumption of
liabilities, an acquisition of control, or a voluntary cessation of business or
voluntary dissolution, but on terms different than contained in the
application, the commissioner may give notice to the applicant of the nature of
the changes which would be approved, and the applicant may submit an amended
application;



(4)  If the commissioner intends to disapprove an
application, the commissioner shall deliver to the applicant a written notice
of the intent to disapprove.  Within ten days after receipt of the
commissioner's notice of intent to disapprove an application, the applicant may
request an administrative hearing, to be held in accordance with chapter 91. 
If no request for a hearing is made, the commissioner's disapproval shall
become final.  If after the hearing the commissioner finally disapproves the
application, the applicant may, within thirty days of the date of the final
decision, appeal to the circuit court as provided in chapter 91;



(5)  Notwithstanding any other provision of this part,
any complete application which is not approved or denied by the commissioner within
a period of sixty days after the application is filed with the commissioner or,
if the applicant consents to an extension of the period within which the
commissioner may act, within the extended period, shall be deemed to be
approved by the commissioner as of the first day after the period of sixty days
or the extended period.  If the commissioner gives notice of an informational
and comment proceeding on the application, the sixty-day period shall be
extended to a date as may be fixed by order of the commissioner.  For purposes
of this section, an application is deemed to be filed with the commissioner at
the time when the complete application, including any amendments or
supplements, containing all of the information in the form required by the commissioner,
is received and accepted by the commissioner; and



(6)  Any applicant submitting information to the
commissioner pursuant to this part may request that the information, or any
part thereof, be kept confidential.  The request shall be made in writing and
shall set forth the specific items sought to be kept confidential and the
reasons and authority for the confidential treatment.  The commissioner may,
pursuant to a request or otherwise, determine that good cause exists to keep
some or all of the information confidential, and shall keep the information
confidential and not subject to public disclosure.  In connection with an
application for the acquisition of control pursuant to section 412:3-612, the
commissioner may release information to the affected financial institution or
financial institution holding company with a directive that some or all of the
information be kept confidential. [L 1993, c 350, pt of §1; am L 1994, c 107,
§12]



 



Rules of Court



 



  Appeals, see HRCP rule 72.