Section 383:9-g Bank Holding Companies. - New Hampshire Statutes

The bank commissioner shall also have general supervision of a corporation, partnership, limited partnership, limited liability company, limited liability corporation, business trust, or any other form of business entity organized under the laws of any jurisdiction which (i) beneficially owns, controls or holds the power to vote 25 percent or more of the voting stock of any federally chartered or state-chartered bank, commercial bank, savings bank, trust company, building and loan association, savings and loan association, cooperative bank, or similar banking organization doing business in the state of New Hampshire or (ii) possesses the power to control or controls the election of a majority of the directors of any such banking organization. For purposes of this section, such a business entity shall be referred to as a bank holding company. If a bank owns or controls another bank in the same manner as a bank holding company, it shall be deemed to be a bank holding company itself. The commissioner may require any bank holding company to furnish whichever reports the commissioner deems appropriate to the proper supervision of such bank holding company. Unless the commissioner determines otherwise, reports prepared for federal authorities may be submitted by such bank holding company in satisfaction of the requirements of this section. If such information and reports are inadequate in the commissioner's judgment for that purpose, the commissioner may examine such bank holding company and any of its subsidiaries doing business in New Hampshire. The proper charges which are incurred by reason of any such examination, including, but not limited to, examiner salaries and the benefits portion of such salaries, transportation, meals, lodging, and other associated costs, shall be paid by the bank holding company examined.

Source. 1995, 304:3. 1997, 194:1, eff. June 18, 1997.