Section 384-B:2-c Branch Closings and Relocations. - New Hampshire Statutes

   I. A bank may discontinue and close a branch office upon the affirmative vote of a majority of its board of directors, but such discontinuance shall not take effect until after at least 30 days' notice of the discontinuance has been filed with the commissioner, has been published in some newspaper of general circulation in the community affected, and has been conspicuously posted in the affected branch location. The commissioner may specify the form and content of such notice, and may determine the dates of publication. Prior to the effective date of such closing, the bank shall file with the commissioner a certified vote of the bank's board of directors evidencing authorization from the board to close the branch, and a certificate, or similar document, issued by the publisher confirming dates and content of such publication.
   II. A bank may relocate a branch office upon the affirmative vote of a majority of its board of directors, but such relocation shall not take effect until after at least 30 days' notice of the relocation has been filed with the commissioner, published in some newspaper of general circulation in the community affected, and has been conspicuously posted in the branch to be relocated. The commissioner may specify the form and content of such notice, and may determine the dates of publication. Prior to the effective date of such relocation, the bank shall file with the commissioner a certified vote of the bank's board of directors evidencing authorization from the board of directors to relocate the branch, and a certificate, or similar document, issued by the publisher confirming dates and content of such publication. No relocation of a branch bank shall occur if the proposed site of relocation is outside the municipality in which the affected branch is authorized to conduct business, unless a new branch application is submitted to the commissioner in accordance with RSA 384-B:2.

Source. 1995, 67:2, eff. Jan. 1, 1996.