Section 384:63-b Interim Banks. - New Hampshire Statutes

Notwithstanding any other law to the contrary, if a state-chartered stock savings bank, stock building and loan association, stock cooperative bank, or trust company is organized on an interim basis for the sole purpose of effecting either a reorganization of a state-chartered stock savings bank, stock building and loan association, stock cooperative bank, or trust company into a holding company structure or the acquisition of another banking institution by a bank holding company or savings and loan holding company, the holding company may organize and be the sole incorporator of such interim state-chartered bank, and only such persons who will serve as directors, trustees, or executive officers of the resulting bank who are not already serving as directors, trustees, or executive officers of the existing bank will be required to submit personal and financial information to the bank commissioner for review pursuant to applicable rules and regulations.

Source. 1997, 194:10, eff. June 18, 1997.