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

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

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

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

(4)  If the commissioner intends to disapprove anapplication, the commissioner shall deliver to the applicant a written noticeof the intent to disapprove.  Within ten days after receipt of thecommissioner's notice of intent to disapprove an application, the applicant mayrequest an administrative hearing, to be held in accordance with chapter 91. If no request for a hearing is made, the commissioner's disapproval shallbecome final.  If after the hearing the commissioner finally disapproves theapplication, the applicant may, within thirty days of the date of the finaldecision, 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 withina 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 thecommissioner may act, within the extended period, shall be deemed to beapproved by the commissioner as of the first day after the period of sixty daysor the extended period.  If the commissioner gives notice of an informationaland comment proceeding on the application, the sixty-day period shall beextended to a date as may be fixed by order of the commissioner.  For purposesof this section, an application is deemed to be filed with the commissioner atthe time when the complete application, including any amendments orsupplements, 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 thecommissioner pursuant to this part may request that the information, or anypart thereof, be kept confidential.  The request shall be made in writing andshall set forth the specific items sought to be kept confidential and thereasons and authority for the confidential treatment.  The commissioner may,pursuant to a request or otherwise, determine that good cause exists to keepsome or all of the information confidential, and shall keep the informationconfidential and not subject to public disclosure.  In connection with anapplication for the acquisition of control pursuant to section 412:3-612, thecommissioner may release information to the affected financial institution orfinancial institution holding company with a directive that some or all of theinformation be kept confidential. [L 1993, c 350, pt of §1; am L 1994, c 107,§12]

 

Rules of Court

 

  Appeals, see HRCP rule 72.