Section 384-B:8 Waiver of Deposit Limitation. - New Hampshire Statutes

In any transaction involving the merger, consolidation or acquisition of any bank, banks, or bank holding company, whenever one or more of such banks or bank holding companies is in such condition that the Federal Deposit Insurance Corporation or any other federal agency having supervisory authority over banks or bank holding companies in New Hampshire could take action which would result in a merger, acquisition, consolidation or other similar structural change, and in the absence of such federal action such a change would be prevented by the provisions of RSA 384-B:2 or RSA 384-B:3, the board may waive the 30 percent dollar volume of total deposit limitation in RSA 384-B:2 and RSA 384-B:3. Any such waiver shall be binding upon the board in any proceeding involving the merger, consolidation or acquisition of such bank, banks, or bank holding company.

Source. 1990, 115:15. 1995, 67:6. 1996, 288:10. 2000, 232:9, eff. July 31, 2000.