State Codes and Statutes
Statutes > New-hampshire > TITLEXXXV > CHAPTER386-B > 386-B-4A mutual savings bank, having adopted a plan of reorganization in accordance with RSA 386-B:3, shall provide the bank commissioner with 60 days' prior written notice of the proposed reorganization. The notice shall include the plan of reorganization, accompanied by certified copies of the required votes of its trustees and corporators pursuant to RSA 386-B:3, and such other relevant information as the bank commissioner may require pursuant to RSA 386-B:12 or by specific request in connection with a notice. Unless the bank commissioner, within such 60 day notice period, disapproves the proposed mutual holding company formation, or extends for another 30 days the period during which such disapproval may issue, the mutual savings bank providing such notice may proceed with the proposed reorganization. The bank commissioner may disapprove any proposed mutual holding company formation only if:
I. Such disapproval is necessary to prevent unsafe or unsound banking;
II. The financial or management resources of the mutual savings bank warrant disapproval; or
III. The mutual savings bank fails to furnish the information required by this section.
Source. 1985, 267:1. 2003, 165:7, eff. Aug. 16, 2003.
