Section 394-A:3 Corresponding Federal and State Financial Institutions; Classes of State Financial Institutions.
I. For purposes of this chapter, the following federally-chartered and state-chartered financial institutions shall be considered as corresponding or analogous institutions:
(a) Federal mutual savings banks and federal savings and loan associations, and the following state-chartered thrift institutions: mutual savings banks, guaranty savings banks, cooperative banks, building and loan associations and savings and loan associations.
(b) Federal credit unions, and state credit unions.
(c) National banks (national banking associations), and state trust companies and commercial banks.
II. In this chapter, the state-chartered financial institutions embraced by each subparagraph of paragraph I shall constitute a single, separate class of state financial institutions.
Source. 1981, 204:1, eff. Aug. 4, 1981.