State Codes and Statutes
Statutes > New-hampshire > TITLEXXXV > CHAPTER386 > 386-56A savings bank shall have the power to act as trustee of an individual retirement account established pursuant to the provisions of the act of Congress entitled ""Employee Retirement Income Security Act of 1974'', and as said act may be further amended from time to time provided that the provisions of the written governing instrument creating such account permit, although they need not limit, the investment of the funds of such account in deposits in savings banks. In the event any individual retirement account of which a savings bank is serving as trustee ceases to be an exempt individual retirement account, in whole or in part, under the provisions of said ""Employee Retirement Income Security Act of 1974'', and as said act may be further amended from time to time, and regulations promulgated thereunder, the savings bank may, nevertheless, continue to act as trustee of any funds theretofore delivered to it under said trust and to hold, manage and dispose of the same in accordance with the applicable provisions of said governing instrument.
Source. 1975, 91:1, eff. June 21, 1975.
