Section 386-A:19 Commencement of Business. - New Hampshire Statutes

Such corporation shall not begin the transaction of business until it has furnished proof of its ability to satisfy any conditions imposed by the board under RSA 386-A:7 and until the initial amount of capital established by the board, represented by the issuance of capital debentures (in the case of a mutual savings bank) or by the issuance of special deposit or capital stock (in the case of a guaranty savings bank), shall have been actually paid in in cash. Upon proof thereof to the bank commissioner, he shall issue to the corporation a certificate of authority to commence business. It shall be unlawful for any such corporation to commence business prior to the issuance of such certificate.

Source. 1965, 279:1, eff. Sept. 4, 1965.