New Hampshire Revised Statutes 384-F:45 – Establishment of Interstate Branches in This State by Out-of-State Foreign Banks
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I. Except as provided in paragraph II of this section, an out-of-state foreign bank may establish an interstate New Hampshire state branch in the same manner (including by merger or other transactions under section 44 of the Federal Deposit Insurance Act, and comparable provisions of the laws of this state, with New Hampshire banks or other institutions) as, and subject generally to the same criteria, standards, conditions, requirements, and procedures applicable to the establishment of interstate branches in this state by, an out-of-state bank having the same home state in the United States, notwithstanding any provision of the laws or rules of this state to the contrary.
II. Notwithstanding the provisions of paragraph I, the commissioner:
(a) Shall apply to the establishment of an initial interstate New Hampshire state branch, and subsequent intrastate New Hampshire branches, of any out-of-state foreign bank the same criteria, standards, conditions, requirements, and procedures applicable under N.H. Rev. Stat. § 384-F:8-43 or rules adopted thereunder to the establishment of an initial New Hampshire state branch, and of subsequent intrastate New Hampshire branches, respectively;
(b) May apply any other criterion, standard, condition, requirement, or provision of the laws or rules of this state that is determined by the commissioner to be substantially equivalent to or consistent with a criterion, standard, condition, requirement, or provision of federal law or regulation generally applicable to the establishment of branches in the United States by foreign banks or specifically applicable to the establishment of a branch in the United States by the applicant foreign bank;
(c) May by rule or order allow an out-of-state foreign bank to acquire or merge with another foreign bank maintaining a New Hampshire branch or agency and thereafter continue such operations as its own.
II. Notwithstanding the provisions of paragraph I, the commissioner:
Terms Used In New Hampshire Revised Statutes 384-F:45
- 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
- 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
- Commissioner: means the New Hampshire bank commissioner. See New Hampshire Revised Statutes 384-F:2
- Federal Deposit Insurance Act: means the Federal Deposit Insurance Act, as amended (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
- Home state: has the same meaning in reference to national banks, state banks, and bank holding companies as is set forth in section 44(f)(4) of the Federal Deposit Insurance Act (12 U. 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
- Out-of-state bank: means a bank, the home state of which is a state other than New Hampshire. See New Hampshire Revised Statutes 384-F:2
- Out-of-state foreign bank: means a foreign bank the home state of which is a state other than New Hampshire. 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
- United States: when used in a geographical sense, means the several states, the District of Columbia, Puerto Rico, Guam, American Samoa, the American Virgin Islands, the Trust Territory of the Pacific Islands, and any other territory of the United States; and, when used in a political sense, means the federal government of the United States. See New Hampshire Revised Statutes 384-F:2
(a) Shall apply to the establishment of an initial interstate New Hampshire state branch, and subsequent intrastate New Hampshire branches, of any out-of-state foreign bank the same criteria, standards, conditions, requirements, and procedures applicable under N.H. Rev. Stat. § 384-F:8-43 or rules adopted thereunder to the establishment of an initial New Hampshire state branch, and of subsequent intrastate New Hampshire branches, respectively;
(b) May apply any other criterion, standard, condition, requirement, or provision of the laws or rules of this state that is determined by the commissioner to be substantially equivalent to or consistent with a criterion, standard, condition, requirement, or provision of federal law or regulation generally applicable to the establishment of branches in the United States by foreign banks or specifically applicable to the establishment of a branch in the United States by the applicant foreign bank;
(c) May by rule or order allow an out-of-state foreign bank to acquire or merge with another foreign bank maintaining a New Hampshire branch or agency and thereafter continue such operations as its own.