Section 384:59 Interstate Bank Merger.
I. Unless otherwise provided in this paragraph, a New Hampshire bank, a national bank, or a federal savings bank having its principal place of business in New Hampshire may merge with any out-of-state bank in accordance with applicable laws and regulations of New Hampshire and any other applicable state and federal authority. A merger pursuant to this section shall be permitted only if the New Hampshire bank may merge with a state or national bank or federal savings bank having its principal place of business in the state in which the principal place of business of the out-of-state bank is located, under conditions no more restrictive than those imposed by the laws of this state as determined by the bank commissioner. No merger shall be permitted which will result in a violation of the deposit limitation contained in RSA 384-B.
II. The exercise of the authority contained in paragraph I of this section by any out-of-state bank which is regulated by the Office of Thrift Supervision shall be subject to a determination by the bank commissioner that the laws of the state in which the bank is chartered, and if it is part of a bank holding company the laws of each state in which a banking subsidiary of the out-of-state bank holding company is located, would permit a substantially similar transaction to occur.
III. The New Hampshire bank shall be required to follow all procedures and to obtain all approvals necessary to merge under applicable New Hampshire law and any applicable rules adopted by the bank commissioner consistent therewith. The merging banks shall file with the bank commissioner a copy of each application or notice filed with federal or other state regulatory authorities relating to the merger at the same time such application or notice is filed with such federal or other state regulatory authorities.
IV. If the resulting bank is a New Hampshire bank, it shall have all the powers held by the bank with which it merged under the applicable laws and regulations of the state in which each branch is located, subject to the duties and restrictions thereof. In addition to any regulation by bank regulatory authorities in the state where a branch is located, each branch of the New Hampshire bank located outside of New Hampshire shall be subject to regulation by the bank commissioner as if such branch were located in New Hampshire and shall comply with New Hampshire law in the conduct of its banking business in such other state unless otherwise required or permitted under the laws of such other state.
V. If the resulting bank is an out-of-state bank, it shall have all the powers held by the bank with which it merged under applicable New Hampshire laws and regulations, subject to the duties and restrictions thereof. The branch or branches located in New Hampshire of an out-of-state bank, other than a national bank or federal savings association, shall be regulated by the bank commissioner as if such branch or branches comprised a New Hampshire bank. Any out-of-state bank having a branch or branches located in New Hampshire shall comply with applicable New Hampshire laws and regulations in the conduct of its banking business in New Hampshire. No branch of an out-of-state bank shall be permitted to engage in any activity not permissible for a New Hampshire bank. Notwithstanding the foregoing, if the out-of-state bank is a national bank or a federal savings association, it shall comply with New Hampshire law to the maximum extent allowed under federal law.
Source. 1995, 304:1. 1996, 288:2, 3. 1998, 139:24. 2000, 236:7. 2001, 269:2, 3, eff. Jan. 1, 2002.