New Hampshire Revised Statutes 384-F:9 – Branches and Agencies of Foreign Banks; Necessity of Licensure
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I. No foreign bank shall transact business in this state except at a New Hampshire state branch or New Hampshire state agency which it is licensed to establish and maintain pursuant to this chapter, and at which it conducts such activities as are permitted by this chapter.
II. Paragraph I shall not be deemed to prohibit:
(a) Any foreign bank which establishes and maintains a federal agency or federal branch in this state from transacting at such federal agency or federal branch such business as it may be authorized to transact under applicable federal laws and regulations;
(b) Any foreign bank which does not maintain a New Hampshire state branch or New Hampshire state agency from making in this state loans secured by liens on real or personal property located in this state or enforcing such loans in this state;
(c) Any foreign bank which does not maintain a New Hampshire branch or New Hampshire agency from transacting trust business in this state as long as the trust business is not conducted from an office or location in this state;
(d) Any foreign bank which maintains a New Hampshire branch or agency from transacting business as agent for an affiliated depository or other institution in accordance with provisions of this chapter; or
(e) Any foreign bank organized under the laws of a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, the deposits of which are insured by the Federal Deposit Insurance Corporation, from establishing and operating an interstate branch in this state in its capacity as a “state bank” as defined in the Federal Deposit Insurance Act, pursuant to the authorities contained in that Act and in the laws of this state.
III. For purposes of paragraph I, no foreign bank shall be deemed to be transacting business in this state merely because a subsidiary or affiliate transacts business in this state, including business that any depository institution, subsidiary, or affiliate may lawfully conduct in this state as an agent for the foreign bank in accordance with and to the extent authorized by the laws of this state and applicable rules, regulations, or orders of the commissioner.
II. Paragraph I shall not be deemed to prohibit:
Terms Used In New Hampshire Revised Statutes 384-F:9
- 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
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- depository institution: means any institution that is included for any purpose within the definitions of "insured depository institution" as set forth in sections 3(c)(2) and 3(c)(3) of the Federal Deposit Insurance Act (12 U. See New Hampshire Revised Statutes 384-F:2
- Federal agency: means an agency of a foreign bank that is licensed by the Comptroller of the Currency pursuant to the provisions of section 4 of the federal International Banking Act (12 U. See New Hampshire Revised Statutes 384-F:2
- Federal branch: means a branch of a foreign bank that is licensed by the Comptroller of the Currency pursuant to the provisions of section 4 of the federal International Banking Act (12 U. 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
- Interstate branch: means a branch of a bank or a branch of a foreign bank, as the context may require, which is (or is to be) established after September 29, 1994, pursuant to the authority contained in the Interstate Banking and Branching Efficiency Act, outside the home state of the bank or foreign bank. 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
- Personal property: All property that is not real property.
- 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) Any foreign bank which establishes and maintains a federal agency or federal branch in this state from transacting at such federal agency or federal branch such business as it may be authorized to transact under applicable federal laws and regulations;
(b) Any foreign bank which does not maintain a New Hampshire state branch or New Hampshire state agency from making in this state loans secured by liens on real or personal property located in this state or enforcing such loans in this state;
(c) Any foreign bank which does not maintain a New Hampshire branch or New Hampshire agency from transacting trust business in this state as long as the trust business is not conducted from an office or location in this state;
(d) Any foreign bank which maintains a New Hampshire branch or agency from transacting business as agent for an affiliated depository or other institution in accordance with provisions of this chapter; or
(e) Any foreign bank organized under the laws of a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, the deposits of which are insured by the Federal Deposit Insurance Corporation, from establishing and operating an interstate branch in this state in its capacity as a “state bank” as defined in the Federal Deposit Insurance Act, pursuant to the authorities contained in that Act and in the laws of this state.
III. For purposes of paragraph I, no foreign bank shall be deemed to be transacting business in this state merely because a subsidiary or affiliate transacts business in this state, including business that any depository institution, subsidiary, or affiliate may lawfully conduct in this state as an agent for the foreign bank in accordance with and to the extent authorized by the laws of this state and applicable rules, regulations, or orders of the commissioner.