New Hampshire Revised Statutes 384-F:35 – Separate Assets
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I. Each foreign bank which is licensed to establish and maintain a New Hampshire state branch or New Hampshire state agency in this state shall keep the assets of its business in this state separate and apart from the assets of its business outside this state.
II. The creditors of a foreign bank arising out of transactions with, and recorded on the books of, its New Hampshire state branch or New Hampshire state agency shall be entitled to absolute preference and priority over the creditors of such foreign bank’s offices located outside this state with respect to the assets of such foreign bank in this state.
II. The creditors of a foreign bank arising out of transactions with, and recorded on the books of, its New Hampshire state branch or New Hampshire state agency shall be entitled to absolute preference and priority over the creditors of such foreign bank’s offices located outside this state with respect to the assets of such foreign bank in this state.
Terms Used In New Hampshire Revised Statutes 384-F:35
- Agency: when used in reference to an office of a foreign bank, shall have the same meaning as set forth in section 1(b)(1) of the federal International Banking Act (12 U. See New Hampshire Revised Statutes 384-F:2
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- bank: as used in this chapter shall not in any event include a foreign bank or a branch or agency of a foreign bank. See New Hampshire Revised Statutes 384-F:2
- Branch: when used in reference to an office of a foreign bank, shall have the same meaning as set forth in section 1(b)(3) of the federal International Banking Act (12 U. See New Hampshire Revised Statutes 384-F:2
- Foreign bank: means any company organized under the laws of a foreign country, a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, that engages directly in the business of banking. See New Hampshire Revised Statutes 384-F:2
- New Hampshire state agency: when used in reference to an office of a foreign bank, shall mean an agency of a foreign bank that is located in this state and licensed pursuant to the provisions of this chapter. See New Hampshire Revised Statutes 384-F:2
- New Hampshire state branch: when used in reference to an office of a foreign bank, shall mean a branch of a foreign bank that is located in this state and licensed pursuant to the provisions of this chapter. See New Hampshire Revised Statutes 384-F:2
- State: has the same meaning as is set forth in section 3(a)(3) of the Federal Deposit Insurance Act (12 U. See New Hampshire Revised Statutes 384-F:2