Section 388:9 Authority to Contract for Union. - New Hampshire Statutes

Upon receipt of such petition the commissioner, after such notice as he deems sufficient, shall hear the petitioners, and if after such investigation as he deems necessary, he finds that the public convenience and advantage and the interest of said institutions, their members, stockholders, and depositors, will be promoted by the proposed union, and that it can be made without reducing the amount standing to the credit of any depositor as of the effective date of the union, and without the apparent necessity of then imposing some restriction on the withdrawal of funds by depositors, he may authorize the proposed union by contract under such terms and conditions, including notice to the depositors as provided in RSA 388:11, as he shall certify to the petitioners. The petitioners shall pay all expenses incurred by the commissioner and his assistants in connection with the consolidation.

Source. 1933, 27:8. RL 311:13. 1947, 123:7, eff. April 30, 1947.