Section 392:43 Voluntary Dissolution of Nondepository Trust Company. - New-hampshire Statutes

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Statutes > New-hampshire > TITLEXXXV > CHAPTER392 > 392-43

A trust company organized as a nondepository institution under the provisions of RSA 392 or under the provisions of RSA 392-A may voluntarily dissolve in the manner provided in this chapter. Such dissolution may be accomplished by the liquidation of the trust company or by reorganizing the trust company into a domestic or foreign corporation, limited liability company, limited partnership, or limited liability partnership that does not have banking or trust powers, and in both instances surrendering its trust company charter to the board of trust company incorporation. A trust company that reorganizes into any other entity pursuant to this section shall not engage in any activity that is authorized only for a bank or a trust company.

Source. 2003, 65:1, eff. July 26, 2003.

State Codes and Statutes

Statutes > New-hampshire > TITLEXXXV > CHAPTER392 > 392-43

A trust company organized as a nondepository institution under the provisions of RSA 392 or under the provisions of RSA 392-A may voluntarily dissolve in the manner provided in this chapter. Such dissolution may be accomplished by the liquidation of the trust company or by reorganizing the trust company into a domestic or foreign corporation, limited liability company, limited partnership, or limited liability partnership that does not have banking or trust powers, and in both instances surrendering its trust company charter to the board of trust company incorporation. A trust company that reorganizes into any other entity pursuant to this section shall not engage in any activity that is authorized only for a bank or a trust company.

Source. 2003, 65:1, eff. July 26, 2003.

State Codes and Statutes

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State Codes and Statutes

Statutes > New-hampshire > TITLEXXXV > CHAPTER392 > 392-43

A trust company organized as a nondepository institution under the provisions of RSA 392 or under the provisions of RSA 392-A may voluntarily dissolve in the manner provided in this chapter. Such dissolution may be accomplished by the liquidation of the trust company or by reorganizing the trust company into a domestic or foreign corporation, limited liability company, limited partnership, or limited liability partnership that does not have banking or trust powers, and in both instances surrendering its trust company charter to the board of trust company incorporation. A trust company that reorganizes into any other entity pursuant to this section shall not engage in any activity that is authorized only for a bank or a trust company.

Source. 2003, 65:1, eff. July 26, 2003.