State Codes and Statutes
Statutes > New-hampshire > TITLEXXXV > CHAPTER384 > 384-60
I. A New Hampshire bank may establish a branch in any state or may acquire a branch or branches of an out-of-state bank in any state in accordance with the laws of such state. The New Hampshire bank shall be required to follow all procedures and to obtain all approvals necessary to establish or acquire a branch under applicable New Hampshire law and any applicable rules adopted by the bank commissioner consistent therewith. The New Hampshire bank shall file with the bank commissioner a copy of each application or notice filed with federal or other state regulatory authorities relating to the transaction at the same time such application or notice is filed with such federal or other state regulatory authorities. Upon consummation of the transaction, the New Hampshire bank shall have all the powers under the applicable laws and regulations of the state in which each branch is located, subject to the duties and restrictions thereof. In addition to any regulation by bank regulatory authorities in the state where a branch is located, each branch of the New Hampshire bank located outside of New Hampshire shall be subject to regulation by the bank commissioner as if such branch were located in New Hampshire and shall comply with New Hampshire law in the conduct of its banking business in such other state unless otherwise required or permitted under the laws of such other state.
II. An out-of-state bank may establish one or more new branches in New Hampshire or may acquire one or more branches from a New Hampshire bank or a national bank or federal savings bank having its principal place of business in New Hampshire. The out-of-state bank shall be required to follow all procedures and to obtain all approvals necessary to establish or acquire the branch or branches under RSA 384-B and any applicable rules adopted by the bank commissioner consistent therewith. The authority granted by this section shall be available to the out-of-state bank only if a New Hampshire bank may establish or acquire one or more branches in the state in which the principal place of business of the out-of-state bank is located under conditions no more restrictive than those imposed by the laws of this state as determined by the bank commissioner. No branch may be established or acquired if it will result in a violation of the deposit limitation contained in RSA 384-B. The out-of-state bank shall file with the bank commissioner a copy of each application or notice filed with federal or other state regulatory authorities relating to the establishment or acquisition of a branch or branches at the same time such application or notice is filed with such federal or other state regulatory authorities. The out-of-state bank shall have all the powers held by a New Hampshire bank with respect to the operation of the branch or branches located in New Hampshire under applicable New Hampshire laws and regulations, subject to the duties and restrictions thereof. The branch or branches located in New Hampshire of an out-of-state bank, other than a national bank or federal savings association, shall be regulated by the bank commissioner as if such branch or branches comprised a New Hampshire bank. Any out-of-state bank having a branch or branches located in New Hampshire shall comply with applicable New Hampshire laws and regulations in the conduct of its banking business in New Hampshire. No branch of an out-of-state bank shall be permitted to engage in any activity not permissible for a New Hampshire bank. Notwithstanding the foregoing, if the out-of-state bank is a national bank or a federal savings association, it shall comply with New Hampshire law to the maximum extent allowed under federal law.
Source. 1995, 304:1. 2000, 236:8. 2001, 269:4, eff. Jan. 1, 2002.
