New Hampshire Revised Statutes 383-C:8-805 – Disapproval
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(a) If the proposed change would adversely affect the safety and soundness of the trust company, then the commissioner may make a decision under N.H. Rev. Stat. § 383-A:6-604 to disapprove a proposed change to a capital plan or business plan, a proposed change of ownership of a trust company, or a proposed change of control of a trust company.
(b) In addition to the reasons for disapproval under subsection (a), the commissioner may make a decision under N.H. Rev. Stat. § 383-A:6-604 to disapprove a proposed change of ownership of a trust company or a proposed change of control of a trust company for any of the following reasons:
(1) The proposed change of ownership of the trust company or the proposed change of control of the trust company would violate any law, including any securities law of this state;
(2) The financial condition, competence, experience, or integrity of any acquirer is such as might jeopardize the safety and soundness of the trust company, including any successor to the trust company, or prejudice the interests of the clients of the trust company; and
(3) Any acquirer neglects, fails, or refuses to furnish the commissioner all the information required by the commissioner.
(b) In addition to the reasons for disapproval under subsection (a), the commissioner may make a decision under N.H. Rev. Stat. § 383-A:6-604 to disapprove a proposed change of ownership of a trust company or a proposed change of control of a trust company for any of the following reasons:
Terms Used In New Hampshire Revised Statutes 383-C:8-805
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- 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
(1) The proposed change of ownership of the trust company or the proposed change of control of the trust company would violate any law, including any securities law of this state;
(2) The financial condition, competence, experience, or integrity of any acquirer is such as might jeopardize the safety and soundness of the trust company, including any successor to the trust company, or prejudice the interests of the clients of the trust company; and
(3) Any acquirer neglects, fails, or refuses to furnish the commissioner all the information required by the commissioner.