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

(1)  Immediately notify the commissioner of thatcircumstance;

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

(3)  Within thirty days, adopt a plan for the orderlyliquidation 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 bedirected by the commissioner. [L 1993, c 350, pt of §1]