Current through Reg. 49, No. 38; September 20, 2024
(a) Relocation by notice. If the location
that is the home office of a trust company prior to a proposed relocation of
the home office is to remain an additional office of the trust company after
the relocation, the trust company may relocate its home office by filing a
written notice pursuant to Finance Code, §
RSA
182.202(c). The filed notice
must contain all information required by subsection (c) of this section,
accompanied by the required filing fee pursuant to §
RSA
21.2 of this title (relating to Filing and
Investigation Fees), and notice of the submission must be published as required
by subsection (e) of this section. A trust company filing notice of a home
office relocation under this subsection may relocate its home office on the
31st day after the required notice and fee have been received by the banking
commissioner, unless the banking commissioner gives notice in writing, prior to
the expiration of that time period, that an earlier or later date is authorized
or that additional information and additional time for analysis is required.
Upon issuance of a notice requiring additional information and additional time
for analysis, the trust company may relocate its home office only on written
approval of the banking commissioner. Except as otherwise provided in this
section, the banking commissioner shall evaluate the notice under the criteria
of §
RSA
21.42(e) of this title
(relating to Establishment, Relocation and Closing of an Additional
Office).
(b) Relocation by
application. If Finance Code, §
RSA
182.202(c), and subsection
(a) of this section do not apply, a trust company desiring to change its home
office location must file an application with the banking commissioner pursuant
to Finance Code, §
RSA
182.202(d), setting forth
all information required by subsection (d) of this section, accompanied by the
required filing fee pursuant to §
RSA
21.2 of this title, and notice of the
submission must be published as required by subsection (e) of this section. The
banking commissioner shall issue a written notice no later than 15 days after
the date the initial filing is received, as required by §
RSA
21.4 of this title (relating to Required
Information and Abandoned Filings), informing the applicant either that all
filing fees have been paid and the application is complete and accepted for
filing, or that the application is deficient and specific additional
information is required. Except as otherwise provided in this section, the
banking commissioner shall evaluate the application under the criteria of
§
RSA
21.42(e) of this title. An
applicant under this subsection may not relocate its home office without the
prior written approval of the banking commissioner.
(c) Contents of notice. The notice filed
under subsection (a) of this section must disclose:
(1) the name of the trust company requesting
the home office relocation;
(2) the
street address of the trust company's home office before the requested home
office relocation;
(3) the street
address of the trust company's proposed home office;
(4) the desired effective date of the home
office relocation under subsection (a) of this section;
(5) a copy of the resolution adopted by the
trust company's board of directors authorizing the proposed home office
relocation;
(6) the cost to be
incurred in connection with the relocation and a statement of the impact of
such cost on the trust company's ability to meet liquidity
requirements;
(7) evidence that the
trust company has considered applicable federal law, if any;
(8) a description of any actual, proposed, or
contemplated financial involvement by an officer, director, manager, managing
participant, or principal shareholder or participant of the trust company with
respect to its home office relocation; and
(9) such other information as the banking
commissioner may require.
(d) Contents of application. The application
submitted under subsection (b) of this section must disclose:
(1) the name of the trust company requesting
the home office relocation;
(2) the
street address of the trust company's home office before the requested home
office relocation;
(3) the street
address of the trust company's proposed home office;
(4) the desired effective date for the home
office relocation;
(5) a copy of
the resolution adopted by the trust company's board of directors authorizing
the home office relocation;
(6) the
cost to be incurred in connection with the relocation and a statement of the
impact of such cost on the trust company's ability to meet liquidity
requirements;
(7) a written
statement signed by the principal executive officer of the trust company or a
majority of the trust company's board of directors stating whether the home
office relocation will result in an abandonment of all or a part of the
community served by the trust company present home office location and, if so,
an explanation of how the abandonment is consistent with the original
determination of public convenience and advantage for the establishment of the
trust company at its existing home office location;
(8) a written statement signed by the
principal executive officer of the trust company or a majority of the trust
company's board of directors stating whether the home office relocation is
anticipated to result in a reduction of trust services presently offered by the
trust company at its present location within the 18-month period after the
proposed effective date of the relocation and, if so, an explanation of the
anticipated reduction in trust and fiduciary services and how the diminution in
services is consistent with the original determination of public convenience
and advantage for the establishment of the trust company at its existing home
office location;
(9) a description
of any actual, proposed, or contemplated financial involvement by an officer,
director, manager, managing participant, or principal shareholder or
participant of the trust company with respect to the home office
relocation;
(10) evidence that the
trust company has considered applicable federal law, if any; and
(11) such other information as the banking
commissioner may require.
(e) Public notice and participation.
(1) Within 14 days of the initial submission
of a notice or application under subsection (a) or (b) of this section, the
trust company shall publish notice of the submission as required by §
RSA 21.5 of this
title (relating to Public Notice). Notice must be published in the community
where the current home office of the trust company is located and in the
community where the proposed home office will be located, and must disclose the
locations of the existing and proposed home offices.
(2) For a period of 14 days after publication
of notice or such longer period as the banking commissioner may allow for good
cause shown, the public may submit written comments or protests. Persons
submitting comments are not entitled to further notice of or participation in
the proceedings. In the event of a properly filed protest, each protesting
party has the rights and responsibilities of a protesting party to a notice of
additional office under §
RSA
21.42 of this title.
(f) Certificate of formation. An amendment to
the certificate of formation of the trust company is not required to effect a
change in the location of its home office under this section. However, if the
certificate of formation is subsequently restated for any reason, the trust
company must include the address of its then current home office in the
restated certificate of formation.
