Section 386-B:5 Notice to Depositors. - New Hampshire Statutes

A mutual savings bank, having complied with the provisions of RSA 386-B:3 and RSA 386-B:4, shall give its depositors at least 30 days prior written notice of the effective date of the reorganization. Such notice shall include a brief description of the plan of reorganization. Any depositor who fails to withdraw the amount deposited to his credit prior to the effective date of the reorganization shall be deemed to have assented to the reorganization. A mutual savings bank that reorganizes by merger and provides notice to depositors in conformity with the provisions of RSA 388:11 shall be deemed to have fulfilled the depositor notice requirements of this section.

Source. 1985, 267:1. 1999, 16:1, eff. June 26, 1999.