§412:5-404  Termination of authority of
intra-Pacific bank.  The authority of any intra-Pacific bank to engage in
the business of a bank in this State pursuant to this part shall automatically
terminate at such time as it no longer meets the definition of an intra-Pacific
bank under section 412:5-400.  In such case it shall:



(1)  Immediately notify the commissioner of that
circumstance;



(2)  Cease accepting deposits in this State, and cease
making loans and investments in this State;



(3)  Within thirty days, adopt a plan for the orderly
liquidation of its assets, or its orderly divestiture pursuant to this chapter,
and submit such plan to the commissioner; and



(4)  Take such other measures and actions as shall be
directed by the commissioner. [L 1993, c 350, pt of §1]