Terms used in this chapter shall be given the following meanings unless such meaning is clearly inconsistent with the manifest intention of the legislature or a different meaning is clearly apparent from the context: I. Annual Interest. Interest annually paid in each year, except that for the latest year it shall mean one year's interest on the amount outstanding at the time of the investment. In the case of a company formed by the consolidation of 2 or more existing companies, the annual interest for the years preceding such consolidation shall be the combined annual interest of the consolidated companies. II. Bond. A note issued under indenture or deed of trust. III. Capital Debenture. Debenture issued by any bank under RSA 384:14-a or held under RSA 387:13, I and II. IV. Capital Funds. The total of capital debentures, if any, capital stock, if any, surplus, undivided profits, unallocated reserves, guaranty fund, and guaranty fund surplus. V. Company. A corporation and its consolidated subsidiary companies, if any, or a voluntary association organized under the laws of the United States or any state thereof and located and doing business principally within the United States. VI. Corporate Securities. Bonds, notes, and other obligations, preferred and common stocks of publicly held corporations, except government corporations, existing under the laws of the United States or any state thereof. VII. Federal Funds. Funds which a savings bank has on deposit at a depository which are exchangeable for funds on deposit at a federal reserve bank. The term ""business day'' when used in connection with advances of federal funds by a savings bank shall mean any day on which the savings bank, the depository and the federal reserve bank where the funds are on deposit, are all open for general business. VIII. Municipality. A county, city, town, village district, school district, precinct, or other municipal corporation. IX. Net Income. Income after deducting operating expenses, taxes, insurance, rentals, guaranteed interest, guaranteed dividends and charges for depreciation, depletion and obsolescence. In the case of a company formed by the consolidation of 2 or more existing companies, the net income for the years preceding such consolidation shall be the combined net income of the consolidated companies. X. Note. A written, unconditional promise of an individual, partnership, corporation, or voluntary association, signed by the maker, to pay to order or to bearer, a specified sum of money on demand or at a fixed determinable future time. XI. Obligations. Bonds and notes issued or assumed by a corporation and unconditionally guaranteed as to the payment of principal and interest by the corporation. XII. Originating Lender. Any savings bank, building and loan association, cooperative bank, federal savings and loan association, banking and trust company, national bank, or insurance company or fraternal benefit society or federally chartered mutual savings bank which holds the original executed note of the borrower and issues participation certificates to participating lenders under the provisions of RSA 387:17. XIII. Participating Lender. Any savings bank, building and loan association, cooperative bank, federal savings and loan association, banking and trust company, national bank or insurance company, fraternal benefit society, or federally chartered mutual savings bank participating in or holding a part interest in a legal investment as defined in RSA 387:4, I, II, III, IV, and VI, and in RSA 387:5. XIV. Participating Loan. Any loan made by each of several savings banks, building and loan associations, cooperative banks, federal savings and loan associations, banking and trust companies, national banks or insurance companies, fraternal benefit societies, or federally chartered mutual savings banks participating severally with an originating lender in, and having a part interest in, a legal investment as described in RSA 387:4, I, II, III, IV, and VI, and in RSA 387:5. XV. Public Obligations. Bonds, notes, and other obligations of federal, state and local governmental units of the United States and Canada. XVI. Rating Services and Rating System. The authorized investment rating services shall be any nationally recognized rating services which the commissioner approves as qualified services for purposes of this chapter. All ratings relied upon under this chapter shall be expressed in accordance with standard major rating categories designated by letters of the alphabet. Ratings of any of the authorized investment services expressed numerically shall be converted to such standard categories by means of the conversion scale of such investment rating service prior to use. Each authorized investment rating service may furnish to the commissioner without charge copies of its public rating lists which may be useful for the purposes of this chapter and revisions and supplements to such lists on a continuing basis. XVII. Total Capital. The sum of (1) the aggregate principal amount of the outstanding funded debt, (2) the aggregate amount of par or stated capital represented by all outstanding preferred and common stock including premiums, if any, on such preferred and common stock and (3) surplus accounts. XVIII. Unit Investment Trust. A fund created pursuant to a trust agreement which is registered as a unit investment trust under the Investment Company Act of 1940. XIX. Years. Calendar years, fiscal years or nearer periods of 12 months next preceding such investment.
Terms used in this chapter shall be given the following meanings unless such meaning is clearly inconsistent with the manifest intention of the legislature or a different meaning is clearly apparent from the context: I. Annual Interest. Interest annually paid in each year, except that for the latest year it shall mean one year's interest on the amount outstanding at the time of the investment. In the case of a company formed by the consolidation of 2 or more existing companies, the annual interest for the years preceding such consolidation shall be the combined annual interest of the consolidated companies. II. Bond. A note issued under indenture or deed of trust. III. Capital Debenture. Debenture issued by any bank under RSA 384:14-a or held under RSA 387:13, I and II. IV. Capital Funds. The total of capital debentures, if any, capital stock, if any, surplus, undivided profits, unallocated reserves, guaranty fund, and guaranty fund surplus. V. Company. A corporation and its consolidated subsidiary companies, if any, or a voluntary association organized under the laws of the United States or any state thereof and located and doing business principally within the United States. VI. Corporate Securities. Bonds, notes, and other obligations, preferred and common stocks of publicly held corporations, except government corporations, existing under the laws of the United States or any state thereof. VII. Federal Funds. Funds which a savings bank has on deposit at a depository which are exchangeable for funds on deposit at a federal reserve bank. The term ""business day'' when used in connection with advances of federal funds by a savings bank shall mean any day on which the savings bank, the depository and the federal reserve bank where the funds are on deposit, are all open for general business. VIII. Municipality. A county, city, town, village district, school district, precinct, or other municipal corporation. IX. Net Income. Income after deducting operating expenses, taxes, insurance, rentals, guaranteed interest, guaranteed dividends and charges for depreciation, depletion and obsolescence. In the case of a company formed by the consolidation of 2 or more existing companies, the net income for the years preceding such consolidation shall be the combined net income of the consolidated companies. X. Note. A written, unconditional promise of an individual, partnership, corporation, or voluntary association, signed by the maker, to pay to order or to bearer, a specified sum of money on demand or at a fixed determinable future time. XI. Obligations. Bonds and notes issued or assumed by a corporation and unconditionally guaranteed as to the payment of principal and interest by the corporation. XII. Originating Lender. Any savings bank, building and loan association, cooperative bank, federal savings and loan association, banking and trust company, national bank, or insurance company or fraternal benefit society or federally chartered mutual savings bank which holds the original executed note of the borrower and issues participation certificates to participating lenders under the provisions of RSA 387:17. XIII. Participating Lender. Any savings bank, building and loan association, cooperative bank, federal savings and loan association, banking and trust company, national bank or insurance company, fraternal benefit society, or federally chartered mutual savings bank participating in or holding a part interest in a legal investment as defined in RSA 387:4, I, II, III, IV, and VI, and in RSA 387:5. XIV. Participating Loan. Any loan made by each of several savings banks, building and loan associations, cooperative banks, federal savings and loan associations, banking and trust companies, national banks or insurance companies, fraternal benefit societies, or federally chartered mutual savings banks participating severally with an originating lender in, and having a part interest in, a legal investment as described in RSA 387:4, I, II, III, IV, and VI, and in RSA 387:5. XV. Public Obligations. Bonds, notes, and other obligations of federal, state and local governmental units of the United States and Canada. XVI. Rating Services and Rating System. The authorized investment rating services shall be any nationally recognized rating services which the commissioner approves as qualified services for purposes of this chapter. All ratings relied upon under this chapter shall be expressed in accordance with standard major rating categories designated by letters of the alphabet. Ratings of any of the authorized investment services expressed numerically shall be converted to such standard categories by means of the conversion scale of such investment rating service prior to use. Each authorized investment rating service may furnish to the commissioner without charge copies of its public rating lists which may be useful for the purposes of this chapter and revisions and supplements to such lists on a continuing basis. XVII. Total Capital. The sum of (1) the aggregate principal amount of the outstanding funded debt, (2) the aggregate amount of par or stated capital represented by all outstanding preferred and common stock including premiums, if any, on such preferred and common stock and (3) surplus accounts. XVIII. Unit Investment Trust. A fund created pursuant to a trust agreement which is registered as a unit investment trust under the Investment Company Act of 1940. XIX. Years. Calendar years, fiscal years or nearer periods of 12 months next preceding such investment.
Terms used in this chapter shall be given the following meanings unless such meaning is clearly inconsistent with the manifest intention of the legislature or a different meaning is clearly apparent from the context: I. Annual Interest. Interest annually paid in each year, except that for the latest year it shall mean one year's interest on the amount outstanding at the time of the investment. In the case of a company formed by the consolidation of 2 or more existing companies, the annual interest for the years preceding such consolidation shall be the combined annual interest of the consolidated companies. II. Bond. A note issued under indenture or deed of trust. III. Capital Debenture. Debenture issued by any bank under RSA 384:14-a or held under RSA 387:13, I and II. IV. Capital Funds. The total of capital debentures, if any, capital stock, if any, surplus, undivided profits, unallocated reserves, guaranty fund, and guaranty fund surplus. V. Company. A corporation and its consolidated subsidiary companies, if any, or a voluntary association organized under the laws of the United States or any state thereof and located and doing business principally within the United States. VI. Corporate Securities. Bonds, notes, and other obligations, preferred and common stocks of publicly held corporations, except government corporations, existing under the laws of the United States or any state thereof. VII. Federal Funds. Funds which a savings bank has on deposit at a depository which are exchangeable for funds on deposit at a federal reserve bank. The term ""business day'' when used in connection with advances of federal funds by a savings bank shall mean any day on which the savings bank, the depository and the federal reserve bank where the funds are on deposit, are all open for general business. VIII. Municipality. A county, city, town, village district, school district, precinct, or other municipal corporation. IX. Net Income. Income after deducting operating expenses, taxes, insurance, rentals, guaranteed interest, guaranteed dividends and charges for depreciation, depletion and obsolescence. In the case of a company formed by the consolidation of 2 or more existing companies, the net income for the years preceding such consolidation shall be the combined net income of the consolidated companies. X. Note. A written, unconditional promise of an individual, partnership, corporation, or voluntary association, signed by the maker, to pay to order or to bearer, a specified sum of money on demand or at a fixed determinable future time. XI. Obligations. Bonds and notes issued or assumed by a corporation and unconditionally guaranteed as to the payment of principal and interest by the corporation. XII. Originating Lender. Any savings bank, building and loan association, cooperative bank, federal savings and loan association, banking and trust company, national bank, or insurance company or fraternal benefit society or federally chartered mutual savings bank which holds the original executed note of the borrower and issues participation certificates to participating lenders under the provisions of RSA 387:17. XIII. Participating Lender. Any savings bank, building and loan association, cooperative bank, federal savings and loan association, banking and trust company, national bank or insurance company, fraternal benefit society, or federally chartered mutual savings bank participating in or holding a part interest in a legal investment as defined in RSA 387:4, I, II, III, IV, and VI, and in RSA 387:5. XIV. Participating Loan. Any loan made by each of several savings banks, building and loan associations, cooperative banks, federal savings and loan associations, banking and trust companies, national banks or insurance companies, fraternal benefit societies, or federally chartered mutual savings banks participating severally with an originating lender in, and having a part interest in, a legal investment as described in RSA 387:4, I, II, III, IV, and VI, and in RSA 387:5. XV. Public Obligations. Bonds, notes, and other obligations of federal, state and local governmental units of the United States and Canada. XVI. Rating Services and Rating System. The authorized investment rating services shall be any nationally recognized rating services which the commissioner approves as qualified services for purposes of this chapter. All ratings relied upon under this chapter shall be expressed in accordance with standard major rating categories designated by letters of the alphabet. Ratings of any of the authorized investment services expressed numerically shall be converted to such standard categories by means of the conversion scale of such investment rating service prior to use. Each authorized investment rating service may furnish to the commissioner without charge copies of its public rating lists which may be useful for the purposes of this chapter and revisions and supplements to such lists on a continuing basis. XVII. Total Capital. The sum of (1) the aggregate principal amount of the outstanding funded debt, (2) the aggregate amount of par or stated capital represented by all outstanding preferred and common stock including premiums, if any, on such preferred and common stock and (3) surplus accounts. XVIII. Unit Investment Trust. A fund created pursuant to a trust agreement which is registered as a unit investment trust under the Investment Company Act of 1940. XIX. Years. Calendar years, fiscal years or nearer periods of 12 months next preceding such investment.
