New Hampshire Revised Statutes 383-B:7-702 – Branching Authority
Current as of: 2023 | Check for updates
|
Other versions
No depository bank shall transact any part of its usual business of banking at any branch office except as follows:
(a) Subject to N.H. Rev. Stat. § 383-B:7-702(b), a depository bank may establish one or more branch offices or acquire branch offices from any depository bank, national bank, federal savings bank or foreign bank in any location within the state. The commissioner shall not permit a depository bank to establish or acquire a branch office if the dollar volume of the total deposits of the bank is greater than 30 percent of the dollar volume of the total deposits of all banks doing business in this state as determined by the commissioner on the basis of the most recent annual deposit reports of the Federal Deposit Insurance Corporation; nor shall the commissioner permit a depository bank to establish or acquire a branch office if the bank is an affiliate of a bank holding company which with all its affiliates then holds a dollar volume of total deposits greater than 30 percent of the dollar volume of total deposits of all banks doing business in this state as determined by the commissioner on the basis of the most recent annual deposit reports of the Federal Deposit Insurance Corporation.
(b) All depository banks shall submit an application to establish a branch office under N.H. Rev. Stat. § 383-A:6-602. A depository bank may proceed to establish or acquire the branch office if it is permitted to do so by the commissioner under N.H. Rev. Stat. § 383-A:6-604.
(a) Subject to N.H. Rev. Stat. § 383-B:7-702(b), a depository bank may establish one or more branch offices or acquire branch offices from any depository bank, national bank, federal savings bank or foreign bank in any location within the state. The commissioner shall not permit a depository bank to establish or acquire a branch office if the dollar volume of the total deposits of the bank is greater than 30 percent of the dollar volume of the total deposits of all banks doing business in this state as determined by the commissioner on the basis of the most recent annual deposit reports of the Federal Deposit Insurance Corporation; nor shall the commissioner permit a depository bank to establish or acquire a branch office if the bank is an affiliate of a bank holding company which with all its affiliates then holds a dollar volume of total deposits greater than 30 percent of the dollar volume of total deposits of all banks doing business in this state as determined by the commissioner on the basis of the most recent annual deposit reports of the Federal Deposit Insurance Corporation.
Terms Used In New Hampshire Revised Statutes 383-B:7-702
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
(b) All depository banks shall submit an application to establish a branch office under N.H. Rev. Stat. § 383-A:6-602. A depository bank may proceed to establish or acquire the branch office if it is permitted to do so by the commissioner under N.H. Rev. Stat. § 383-A:6-604.