Section 392:38 Prohibited Loans and Purchases. - New Hampshire Statutes

No such trust company shall make a loan or discount on the security of the shares or interests, nor be the purchaser or holder of such shares or interests unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith; and stock or interests so purchased or acquired shall within 6 months after its purchase be sold or disposed of at public or private sale, unless such time is extended by the commissioner.

Source. 1915, 109:24. PL 265:36. RL 313:36. 2006, 320:43, eff. Aug. 19, 2006.