Section 384-F:45 Establishment of Interstate Branches in this State by Out-of-State Foreign Banks. - New Hampshire Statutes

   I. Except as provided in paragraph II of this section, an out-of-state foreign bank may establish an interstate New Hampshire state branch in the same manner (including by merger or other transactions under section 44 of the Federal Deposit Insurance Act, and comparable provisions of the laws of this state, with New Hampshire banks or other institutions) as, and subject generally to the same criteria, standards, conditions, requirements, and procedures applicable to the establishment of interstate branches in this state by, an out-of-state bank having the same home state in the United States, notwithstanding any provision of the laws or rules of this state to the contrary.
   II. Notwithstanding the provisions of paragraph I, the commissioner:
      (a) Shall apply to the establishment of an initial interstate New Hampshire state branch, and subsequent intrastate New Hampshire branches, of any out-of-state foreign bank the same criteria, standards, conditions, requirements, and procedures applicable under RSA 384-F:8-43 or rules adopted thereunder to the establishment of an initial New Hampshire state branch, and of subsequent intrastate New Hampshire branches, respectively;
      (b) May apply any other criterion, standard, condition, requirement, or provision of the laws or rules of this state that is determined by the commissioner to be substantially equivalent to or consistent with a criterion, standard, condition, requirement, or provision of federal law or regulation generally applicable to the establishment of branches in the United States by foreign banks or specifically applicable to the establishment of a branch in the United States by the applicant foreign bank;
      (c) May by rule or order allow an out-of-state foreign bank to acquire or merge with another foreign bank maintaining a New Hampshire branch or agency and thereafter continue such operations as its own.

Source. 1997, 236:1, eff. July 1, 1997.