State Codes and Statutes
Statutes > New-hampshire > TITLEXXXV > CHAPTER386-B > 386-B-1For purposes of this chapter:
I. ""Mutual holding company'' means the corporation that is organized to become, or continues in mutual form as, the majority shareholder of the subsidiary guaranty savings bank when a mutual savings bank reorganizes to achieve a holding company structure pursuant to this chapter.
II. ""Subsidiary guaranty savings bank'' means a savings bank in the stock form organized to receive the assets and liabilities of a reorganizing mutual savings bank in accordance with the provisions of this chapter, a majority of the voting stock of which is owned by the resulting mutual holding company. If the subsidiary guaranty savings bank merges into or consolidates with any other subsidiary of the mutual holding company, all references herein to the subsidiary guaranty savings bank shall be deemed to refer to the successor institution.
III. ""Proprietary interests'' of the savings depositors of a mutual savings bank refer to the proportionate inchoate interests that such depositors have in the net worth of such bank, such interests maturing and being realized upon the bank's liquidation and after the claims of all creditors (including those of depositors as creditors) have been satisfied.
IV. ""Savings depositor'' means any person having funds on deposit in a time, savings, or demand account or accounts at a mutual savings bank or following its reorganization into a mutual holding company, at the subsidiary guaranty savings bank.
Source. 1985, 267:1. 1988, 2:1. 1995, 293:3, 4. 1997, 194:11, eff. June 18, 1997.
