Section 383:9-d Examination of Highly Rated Institutions; Nondepository Trust Companies. - New Hampshire Statutes

   I. The bank commissioner may, at his or her discretion, waive one 18-month examination requirement under RSA 383:9 every 6 years for institutions which have consistently been given high ratings in past examinations. The commissioner may also substitute for an 18-month examination once every 6 years a report of a federal institution examining agency whose reports regularly include a report on New Hampshire institutions. Within any 6-year period in which 4 18-month examinations are required under RSA 383:9, the commissioner may for highly rated institutions:
      (a) Waive one examination;
      (b) Substitute for one examination a report of a federal bank examining agency whose reports regularly include a report on New Hampshire banks; and
      (c) Perform 2 examinations as required by 383:9.
   II. The commissioner may, at his or her sole discretion, upon the written request of a highly-rated nondepository trust company, satisfy the examination requirement of RSA 383:9, including modifications under paragraph I, for such trust company through an off-premises examination of:
      (a) An audit report satisfying the requirements of RSA 384:43, I and II if it is prepared in accordance with RSA 384:43, III(a) and (b), and a fiduciary audit conforming to applicable generally accepted auditing standards; and
      (b) Such other records and information of the institution as may be required by the commissioner.

Source. 1985, 55:5. 2003, 165:2, eff. Aug. 16, 2003. 2006, 320:2, eff. Aug. 19, 2006.