New Hampshire Revised Statutes 383-B:8-802 – Conversion of State Depository Bank Into a National Bank or Federal Savings Bank
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Terms Used In New Hampshire Revised Statutes 383-B:8-802
- 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
A depository bank may convert into a national bank or federal savings bank. The conversion shall be governed by federal law and not the law of this state, except that the conversions shall be approved by a majority of the holders of each class of voting stock of an investor-owned depository bank, the corporators of a mutual savings bank, or the association members of a savings association, or by a higher percentage if required by the entity’s organizational documents.