Current through Reg. 49, No. 38; September 20, 2024
(a) Authority.
An application under this subchapter is subject to such investigation as
considered necessary, in the banking commissioner's sole discretion, in order
to make an informed decision regarding an application.
(b) Costs and fees. An applicant under this
subchapter shall pay reasonable costs incurred in the investigation including
the cost of a required examination, as provided by §
RSA
21.2 of this title (relating to Filing and
Investigation Fees).
(c)
Examinations. The banking commissioner may consider the following factors in
determining whether to require an examination of one or more of the entities to
the transaction:
(1) a question exists
regarding the solvency or potential solvency of the applicant or one or more of
the fiduciary institutions or other entities involved in the proposed
transaction;
(2) a trust company or
other fiduciary institution involved in the transaction has not been examined
by a state, federal, or foreign regulatory agency within the 18-month period
immediately preceding the date of submission of the application;
(3) a trust company or other fiduciary
institution involved in the proposed transaction has numerous substantive
violations cited in its last examination report, or has a less than
satisfactory corporate or trust regulatory rating;
(4) a question exists regarding the
experience, ability, standing, trustworthiness, or integrity of the existing or
proposed officers, directors, managers or managing participants of a party
involved in the proposed transaction;
(5) a question exists whether a resulting
trust company will operate in compliance with the law;
(6) a question exists whether a resulting
trust company will be free from improper or unlawful influence or interference
from its principal shareholders with respect to operation in compliance with
the law;
(7) a question exists
whether a resulting trust company will have adequate capitalization;
(8) one or more of the parties to the
transaction are under a regulatory restriction; or
(9) such other factors as determined in the
sole discretion of the banking commissioner.
