Section 384:5-a Limitation. - New Hampshire Statutes

   I. No person shall at the same time serve as a trustee, director, or senior executive officer who exercises significant influence over, or participates in, major policy decisions of more than one of the following types of financial institutions if such financial institutions are doing business in the same assessment area as delineated under the federal Community Reinvestment Act, 12 U.S.C. section 2901 et seq., and regulations adopted thereunder:
      (a) Cooperative bank;
      (b) Building and loan association;
      (c) Federal savings and loan association;
      (d) Trust company, with the exception of a limited trust company as provided in paragraph II(c);
      (e) National bank;
      (f) Mutual savings and guaranty savings banks;
      (g) Credit union.
   II. The provisions of paragraph I shall not apply:
      (a) [Repealed.]
      (b) With respect to any person serving as trustee, director, or officer of more than one affiliate of a bank holding company as defined in RSA 384-B:1, IV and V;
      (c) With respect to any person serving as a trustee, director, or officer of:
         (1) An institution which does not engage in a trust business; and
         (2) A trust company which does not make loans and does not accept deposits; or
      (d) With respect to any person who is serving in a capacity that is permitted under federal laws or regulations governing depository institution management interlocks.

Source. 1961, 248:11. 1971, 362:1. 1985, 52:1. 1998, 139:5, 6. 2002, 49:1. 2004, 231:2, eff. June 11, 2004.