(a) A family trust company shall have a board of directors, and that board of directors must have not less than three members. A director need not be a resident of New Hampshire or a citizen of the United States, unless otherwise required by the commissioner in consideration of the family trust company’s safety and soundness. N.H. Rev. Stat. § 383-C:6-601(a) shall not apply to family trust companies.
(b) Subject to any limitations set forth in its organizational documents, this chapter, and RSA 383-C, all of the family trust company’s powers shall be exercised by or under the authority of the family trust company’s board of directors.