N.H. Code Admin. R. Ann. Ban — Commissioner, Banking Department

agency-banN.H. Code Admin. R. Ann. BanRegulation

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Chapter Ban 100 Organizational Rules

Part Ban 101 Purpose and Scope

N.H. Code Admin. R. Ann. Ban 101.01 Purpose {#sec-ban-101.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 101.01}

The purpose of these rules is to describe the New Hampshire banking department and how to obtain its information.

History

  • #1596, eff 6-30-80; ss by #2062, eff 6-25-82; ss by #2685, eff 4-20-84; EXPIRED 4-20-90
  • #6146, eff 12-22-95; ss by #10258, eff 1-24-13; ss by #14096, eff 10-3-24
N.H. Code Admin. R. Ann. Ban 101.02 Scope {#sec-ban-101.02 omnilex-key=us-nh-regs-official--agency-ban--Ban 101.02}

These rules shall apply to financial institutions that are either chartered, registered, or licensed in New Hampshire, including, without limitation:

(a) Banks;

(b) Trust companies;

(c) Family trust companies;

(d) Credit unions;

(e) Small loan companies;

(f) Mortgage bankers, brokers, originators, and loan servicers;

(g) Motor vehicle sales finance companies;

(h) Retail sellers of motor vehicles;

(i) Debt adjusters;

(j) Money transmitters; and

(k) Other financial institutions organized and operating under the banking laws of the state of New Hampshire.

History

  • #1596, eff 6-30-80; ss by #2062, eff 6-25-82; ss by #2685, eff 4-20-84; EXPIRED 4-20-90
  • #6146, eff 12-22-95; ss by #10258, eff 1-24-13; ss by #14096, eff 10-3-24

Part Ban 102 Definitions

N.H. Code Admin. R. Ann. Ban 102.01 Organizational Rules {#sec-ban-102.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 102.01}

RESERVED

History

  • #1596, eff 6-30-80; ss by #2062, eff 6-25-82; ss by #2685, eff 4-20-84; EXPIRED 4-20-90
  • #6146, eff 12-22-95; ss by #10258, eff 1-24-13; rpld by #10442, eff 10-19-13
N.H. Code Admin. R. Ann. Ban 102.02 Commissioner {#sec-ban-102.02 omnilex-key=us-nh-regs-official--agency-ban--Ban 102.02}

"Commissioner" means the bank commissioner of the state of New Hampshire banking department appointed under the provisions of RSA 383:1.

History

  • #1596, eff 6-30-80; ss by #2062, eff 6-25-82; ss by #2685, eff 4-20-84; EXPIRED 4-20-90
  • #6146, eff 12-22-95; ss by #10258, eff 1-24-13 (from Ban 101.01); ss by #14096, eff 10-3-24
N.H. Code Admin. R. Ann. Ban 102.03 Department {#sec-ban-102.03 omnilex-key=us-nh-regs-official--agency-ban--Ban 102.03}

"Department" means the state of New Hampshire banking department.

History

  • #1596, eff 6-30-80; ss by #2062, eff 6-25-82; ss by #2685, eff 4-20-84; EXPIRED 4-20-90
  • #6146, eff 12-22-95; ss by #10258, eff 1-24-13 (from Ban 101.02); ss by #14096, eff 10-3-24

Part Ban 103 Description of Department

N.H. Code Admin. R. Ann. Ban 103.01 Commissioner, Commissioner’s Office {#sec-ban-103.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 103.01}

(a) The department shall be under the direction of the commissioner.

(b) The commissioner shall have general responsibility for the supervision and examination of state banks, trust companies, family trust companies, credit unions, and other entities licensed by the department and as designated by law.

(c) With the exception of the commissioner’s rulemaking powers, and in addition to any delegations described in these rules, the commissioner shall have the authority to delegate within the department the commissioner’s powers, duties, and responsibilities as provided for in RSA 383:7-a.

(d) The commissioner’s office includes the following:

(1) A deputy commissioner pursuant to RSA 383:1; and

(2) Assistants as necessary for general office matters.

History

  • #6146, eff 12-22-95; ss by #10258, eff 1-24-13; ss by #14096, eff 10-3-24
N.H. Code Admin. R. Ann. Ban 103.02 Banking Division {#sec-ban-103.02 omnilex-key=us-nh-regs-official--agency-ban--Ban 103.02}

The banking division, headed by the director of banking, shall conduct:

(a) Supervision and examinations of each state-chartered financial institution;

(b) Reviews of applications, notices, and other requests for business activity; and

(c) Other regulatory functions required to supervise chartered financial institutions.

History

  • #6146, eff 12-22-95; ss by #10258, eff 1-24-13; ss by #14096, eff 10-3-24
N.H. Code Admin. R. Ann. Ban 103.03 Trust Division {#sec-ban-103.03 omnilex-key=us-nh-regs-official--agency-ban--Ban 103.03}

The trust division, headed by the director of trusts, shall conduct:

(a) Examinations of each state-chartered trust company and family trust company;

(b) Reviews of applications, notices, and other requests for business activity related to public and family trust companies; and

(c) Other regulatory functions required to supervise chartered trust companies and family trust companies.

History

  • #6146, eff 12-22-95; ss by #10258, eff 1-24-13; ss by #14096, eff 10-3-24
N.H. Code Admin. R. Ann. Ban 103.04 Consumer Credit Division {#sec-ban-103.04 omnilex-key=us-nh-regs-official--agency-ban--Ban 103.04}

The consumer credit division, headed by the director of consumer credit, shall conduct:

(a) Examinations of each consumer credit licensee of the department;

(b) Reviews of licensing applications of consumer credit entities; and

(c) Other regulatory functions required to supervise consumer credit licensees.

History

  • #10258, eff 1-24-13; ss by #14096, eff 10-3-24 (formerly Ban 103.03)

The legal division, headed by the general counsel, shall:

(a) Investigate, mediate, and resolve consumer complaints against institutions under the supervision of the commissioner;

(b) Provide legal support for administrative actions taken by the department, and prosecute and take enforcement actions against institutions under the supervision of the commissioner;

(c) Provide legal counsel to the department;

(d) Assist the commissioner in rulemaking and legislation;

(e) Provide information and assistance to members of the public relating to matters under the department’s regulatory authority; and

(f) Administer and coordinate the department’s responses to requests for governmental records.

History

  • #10258, eff 1-24-13; ss by #14096, eff 10-3-24 (formerly Ban 103.04)
N.H. Code Admin. R. Ann. Ban 103.06 Operations Division {#sec-ban-103.06 omnilex-key=us-nh-regs-official--agency-ban--Ban 103.06}

The operations division, headed by the director of operations, shall coordinate the following functions:

(a) Accounting, purchasing, and budget control;

(b) Personnel management;

(c) Property and contract management; and

(d) Assistance to the commissioner with short and long range department level planning activities.

History

  • #10258, eff 1-24-13; ss by #14096, eff 10-3-24 (formerly Ban 103.05)
N.H. Code Admin. R. Ann. Ban 103.07 Department Information {#sec-ban-103.07 omnilex-key=us-nh-regs-official--agency-ban--Ban 103.07}

(a) The department’s office is:

(1) Located at:

53 Regional Drive, Suite 200

Concord, New Hampshire; and

(2) Open to the public between the hours of 8:00 A.M. and 4:30 P.M., Monday through Friday, except state of New Hampshire holidays.

(b) The department’s mailing address is:

New Hampshire Banking Department

53 Regional Drive Suite 200

Concord, New Hampshire 03301.

(c) The department may also be contacted by:

(1) Telephone at (603) 271-3561;

(2) TDD Access Relay at 1-800-735-2964; or

(3) Electronic mail at nhbd@banking.nh.gov.

(d) Other helpful information may be found on the department’s website at www.banking.nh.gov.

History

  • #14096, eff 10-3-24 (formerly Ban 103.06)

Part Ban 104 Department Information Available to the Public

N.H. Code Admin. R. Ann. Ban 104.01 New Hampshire Banking Department Records {#sec-ban-104.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 104.01}

For purpose of this part, “New Hampshire banking department records” means governmental records as defined in RSA 91-A.

History

  • #10258, eff 1-24-13; ss by #14096, eff 10-3-24
N.H. Code Admin. R. Ann. Ban 104.02 Access to Department Information {#sec-ban-104.02 omnilex-key=us-nh-regs-official--agency-ban--Ban 104.02}

(a) The commissioner's annual report and other department information shall be available at www.banking.nh.gov/forms-publications/annual-reports-commissioner.

(b) The department's administrative rules shall be available for examination at:

(1) The department's office; and

(2) The department’s website at www.banking.nh.gov/banks-credit-unions/laws-rules-guidance.

(c) Information available on the department’s website includes:

(1) Public orders from 2009 onwards; and

(2) Current lists of New Hampshire chartered institutions and licensees.

History

  • #10258, eff 1-24-13; ss by #10442, eff 10-19-13; ss by #14096, eff 10-3-24
N.H. Code Admin. R. Ann. Ban 104.03 Requests for New Hampshire Banking Department Records {#sec-ban-104.03 omnilex-key=us-nh-regs-official--agency-ban--Ban 104.03}

(a) Persons seeking department records shall request the information in a manner that would give the department notice with reasonable specificity of what records the requestor is seeking.

(b) A request for department records may be delivered to the department:

(1) In person;

(2) By U.S. mail or courier service to the department’s office; or

(3) By email to legal@banking.nh.gov.

N.H. Code Admin. R. Ann. Ban 104.04 Response to Request for Records {#sec-ban-104.04 omnilex-key=us-nh-regs-official--agency-ban--Ban 104.04}

(a) The department shall respond to all requests for records as soon as practicable and in accordance with RSA 91-A.

(b) When inspection of publicly available records is not immediately feasible, the requesting party and the department shall agree upon a mutually convenient time for such inspection.

(c) By agreement between the requesting party and the department, public records shall be electronically sent to a valid email address provided by the requesting party.

(d) A party requesting copies shall be charged a fee for the actual cost of the copies as assessed by the department pursuant to RSA 91-A.

APPENDIX

Rule

Specific State Statute the Rule Implements

Ban 101.01

RSA 541-A:16, I(a)

Ban 101.02

RSA 541-A:16, I(a); RSA 383:9, II

Ban 102.02

RSA 541-A:16, I(a); RSA 383:1

Ban 102.03

RSA 541-A:16, I(a)

Ban 103.01

RSA 541-A:16, I(a); RSA 383:1; RSA 383:7-a; and RSA 383:9

Ban 103.02

RSA 541-A:16, I(a); RSA 383:7-a; and RSA 383:9

Ban 103.03

RSA 541-A:16, I(a); RSA 383:7-a; and RSA 383:9

Ban 103.04

RSA 541-A:16, I(a); RSA 383:7-a; RSA 383:9

Ban 103.05

RSA 541-A:16, I(a); RSA 383:5-a; RSA 383:7-a; RSA 383:9

Ban 103.06

RSA 541-A:16, I(a); RSA 383:7-a; RSA 383:9

Ban 103.07

RSA 541-A:16, I(a); RSA 383:7-a; RSA 383:9

Ban 104.01

RSA 541-A:16, I(a)

Ban 104.02

RSA 541-A:16, I(a)

Ban 104.03

RSA 541-A:16, I(a)

Ban 104.04

RSA 541-A:16, I(a)

History

  • #10258, eff 1-24-13; ss by #14096, eff 10-3-24

Chapter Ban 500 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally- Chartered Financial Institutions

Part Ban 501 Format and Procedures for Petitioning of Commissioner - Reserved

N.H. Code Admin. R. Ann. Ban 501.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-501.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 501.01}
  • 501.03 - REPEALED

History

  • #1798, eff 8-23-81, became EXEMPT from expiration pursuant to 1983, 287:2, eff 6-18-83; rpld by #12356, eff 8-3-17

Part Ban 502 Deposits of Public Money in Thrift Institutions - Reserved

N.H. Code Admin. R. Ann. Ban 502.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-502.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 502.01}
  • 502.06 - REPEALED

History

  • #1840, eff 11-2-81, became EXEMPT from expiration pursuant to 1983, 287:2, eff 6-18-83; rpld by #12356, eff 8-3-17

Part Ban 503 Commercial, Corporate or Business Loans of Thrift Institutions - Reserved

N.H. Code Admin. R. Ann. Ban 503.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-503.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 503.01}
  • 503.04 - REPEALED

History

  • #1840, eff 11-2-81, became EXEMPT from expiration pursuant to 1983, 287:2, eff 6-18-83; rpld by #12356, eff 8-3-17

Part Ban 505 Trust Powers of Thrift Institutions - Repealed

N.H. Code Admin. R. Ann. Ban 505.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-505.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 505.01}
  • 505.04 - REPEALED

History

  • #1845, eff 11-9-81, became EXEMPT from expiration pursuant to 1983, 287:2, eff 6-18-83; rpld by #12356, eff 8-3-17

Part Ban 506 Sale of Federal Funds by State Chartered Credit Unions - Reserved

N.H. Code Admin. R. Ann. Ban 506.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-506.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 506.01}
  • 506.07 - REPEALED

History

  • #1853, eff 11-16-81, became EXEMPT from expiration pursuant to 1983, 287:2, eff 6-18-83; rpld by #12356, eff 8-3-17

Part Ban 507 Non-Interest Bearing Negotiable Orders of Withdrawal for Business Customers (ninows) - Expired

N.H. Code Admin. R. Ann. Ban 507.01 Commercial Deposits Allowed {#sec-ban-507.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 507.01}

History

  • #1868, eff 12-4-81, EXPIRED: 12-4-83
N.H. Code Admin. R. Ann. Ban 507.02 Deposit Rules Required {#sec-ban-507.02 omnilex-key=us-nh-regs-official--agency-ban--Ban 507.02}

History

  • #1868, eff 12-4-81, EXPIRED: 12-4-83

Part Ban 508 Investments of Thrift Institutions in Service Corporations – Reserved

N.H. Code Admin. R. Ann. Ban 508.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-508.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 508.01}

– 508.06 – REPEALED

History

  • #1897, eff 1-04-82, became EXEMPT from expiration pursuant to 1983, 287:2, eff 6-18-83; ss by #3034, eff 7-7-85, EXEMPT from expiration; rpld by #12356, eff 8-3-17

Part Ban 509 Voting Proxies in Conversion of Mutual Banks to Stock Banks (co-Operative Banks) - Reserved

N.H. Code Admin. R. Ann. Ban 509.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-509.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 509.01}

REPEALED

History

  • #1987, eff 3-26-82, became EXEMPT from expiration pursuant to 1983, 287:2, eff 6-18-83; rpld by #12356, eff 8-3-17

Part Ban 510 Credit Union Powers

N.H. Code Admin. R. Ann. Ban 510.01 Definitions {#sec-ban-510.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 510.01}

(a) "Corporate central credit union" or "corporate central" means a credit union operated for the primary purpose of serving corporate accounts or other credit union accounts.

(b) "Service corporations" means any other organization providing services which are associated with the routine operations of credit unions.

(c) "Federal credit union act" means the act of June 26, 1934 including subchapters, as amended from time to time. (Chapter 14 of Title 12 of the U.S. Code)

(d) "Commissioner" means the same as provided in Ban 101.01.

(e) "Department" means the same as provided in Ban 101.02.

(f) "Credit union" means any corporation organized under RSA 394-B or by legislative charter.

(g) "National credit union central liquidity facility" means the same as the "central liquidity facility" or "facility" as established by subchapter III of the Federal Credit Union Act.

(h) "Undivided earnings" or "undivided profits" means the account to which current net earnings or profits are credited and consists of undistributed earnings available for dividends and losses.

(i) "Surplus account" means the total of the credit union guaranty fund account, undivided profits account and reserve accounts, if any.

(j) "Share capital and deposit capital" means the member shares and deposits of the credit union.

History

  • #2120, eff 8-12-82, became EXEMPT from expiration pursuant to 1983, 287:2, eff 6-18-83; amd by #7632, eff 1-29-02, EXEMPT from expiration
N.H. Code Admin. R. Ann. Ban 510.02 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-510.02 omnilex-key=us-nh-regs-official--agency-ban--Ban 510.02}
  • REPEALED

History

  • #2120, eff 8-12-82, became EXEMPT from expiration pursuant to 1983, 287:2, eff 6-18-83; rpld by #12356, eff 8-3-17
N.H. Code Admin. R. Ann. Ban 510.03 Investments in Service Corporations {#sec-ban-510.03 omnilex-key=us-nh-regs-official--agency-ban--Ban 510.03}

A credit union may invest its funds in the shares, stocks or obligations of any organization, providing services which are associated with the routine operations of credit unions up to 1% of the total paid in and unimpaired share and deposit capital and surplus account of the credit union with the approval of the commissioner, provided, however, that such authority does not include the power to acquire control directly or indirectly of another financial institution, nor invest in shares, stocks or obligations of an insurance company, trade association, liquidity facility or any other similar organization, corporation or association.

History

  • #2120, eff 8-12-82, became EXEMPT from expiration pursuant to 1983, 287:2, eff 6-18-83
N.H. Code Admin. R. Ann. Ban 510.04 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-510.04 omnilex-key=us-nh-regs-official--agency-ban--Ban 510.04}
  • 510.05 - REPEALED

History

  • #2120, eff 8-12-82, became EXEMPT from expiration pursuant to 1983, 287:2, eff 6-18-83; rpld by #12356, eff 8-3-17
N.H. Code Admin. R. Ann. Ban 510.06 Investment in National Credit Union Central Liquidity Facility {#sec-ban-510.06 omnilex-key=us-nh-regs-official--agency-ban--Ban 510.06}

A credit union may invest in shares or deposits of any central liquidity facility in which such investments are specifically authorized by the board of directors of the credit union making the investment.

History

  • #2120, eff 8-12-82, became EXEMPT from expiration pursuant to 1983, 287:2, eff 6-18-83
N.H. Code Admin. R. Ann. Ban 510.07 Loans and Lines of Credit to Members {#sec-ban-510.07 omnilex-key=us-nh-regs-official--agency-ban--Ban 510.07}
  • REPEALED

History

  • #4716, eff 12-6-89, EXPIRED: 12-6-95; rpld by #12356, eff 8-3-17
N.H. Code Admin. R. Ann. Ban 510.08 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-510.08 omnilex-key=us-nh-regs-official--agency-ban--Ban 510.08}

– REPEALED

History

  • #6071, eff 7-29-95, EXEMPT from expiration; rpld by #12356, eff 8-3-17
N.H. Code Admin. R. Ann. Ban 510.09 Credit Union Branching {#sec-ban-510.09 omnilex-key=us-nh-regs-official--agency-ban--Ban 510.09}
  • EXPIRED

Source.

History

  • #8486, eff 11-11-05, EXPIRED: 11-11-13

Part Ban 511 Dividends and Interest Paid by Thrift Institutions - Reserved

N.H. Code Admin. R. Ann. Ban 511.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-511.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 511.01}
  • 511.03 RESERVED

History

  • #2121, eff 8-12-82, became EXEMPT from expiration pursuant to 1983, 287:2, eff 6-18-83; rpld by #12356, eff 8-3-17

Part Ban 512 Deposits in Financial Institutions - Reserved

N.H. Code Admin. R. Ann. Ban 512.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-512.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 512.01}
  • 512.02 - REPEALED

History

  • #2132, eff 9-17-82, became EXEMPT from expiration pursuant to 1983, 287:2, eff 6-18-83; rpld by #12356, eff 8-3-17

Part Ban 513 Distribution of Profits and Dividends by State-Chartered Thrift Institutions (cooperative Banks) – Reserved

N.H. Code Admin. R. Ann. Ban 513.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-513.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 513.01}
  • 513.02 – REPEALED

History

  • #2469-a, eff 9-8-83, EXEMPT from expiration; rpld by #12356, eff 8-3-17

Part Ban 514 Interstate Lending Authority - Reserved

N.H. Code Admin. R. Ann. Ban 514.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-514.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 514.01}
  • 514.02 - REPEALED

History

  • #2470, eff 9-7-83, EXEMPT from expiration; rpld by #12356, eff 8-3-17

Part Ban 515 Receipt of Funds from Other Credit Unions - Reserved

N.H. Code Admin. R. Ann. Ban 515.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-515.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 515.01}
  • REPEALED

History

  • #2548, eff 1-5-84, EXEMPT from expiration; rpld by #12356, eff 8-3-17

Part Ban 516 Service Charges on Savings Accounts of State Chartered Thrift Institutions (building and Loan Associations and/or Co-Operative Banks) - Reserved

N.H. Code Admin. R. Ann. Ban 516.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-516.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 516.01}
  • 516.02 - REPEALED

History

  • #2611, eff 3-3-84, EXEMPT from expiration; rpld by #12356, eff 8-3-17

Part Ban 517 Corporate Title of Thrift Institutions - Reserved

N.H. Code Admin. R. Ann. Ban 517.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-517.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 517.01}
  • 517.02 – REPEALED

History

  • #2699, eff 5-4-84, EXEMPT from expiration; rpld by #12356, eff 8-3-17
N.H. Code Admin. R. Ann. Ban 517.03 Approval by Bank Commissioner {#sec-ban-517.03 omnilex-key=us-nh-regs-official--agency-ban--Ban 517.03}
  • REPEALED

History

  • #2699, eff 5-4-84; rpld by #5263, eff 10-31-91

Part Ban 519 Requirements and Procedures for Conversions of Mutual Savings Banks and Associations to Stock Form - Reserved

N.H. Code Admin. R. Ann. Ban 519.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-519.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 519.01}
  • 519.10 - REPEALED

History

  • #5663, eff 7-2-93, EXEMPT from expiration; rpld by #12356, eff 8-3-17

Part Ban 520 Requirements and Procedures for Retail Sales of Mutual Funds and Other Uninsured Products - Reserved

N.H. Code Admin. R. Ann. Ban 520.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-520.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 520.01}
  • 520.03 – REPEALED

History

  • #5883, eff 8-24-94, EXEMPT from expiration; rpld by #12356, eff 8-3-17

Part Ban 522 Real Estate Lending Standards - Reserved

N.H. Code Admin. R. Ann. Ban 522.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-522.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 522.01}
  • 522.02 – REPEALED

History

  • #5896, eff 9-15-94, EXEMPT from expiration; rpld by #12356, eff 8-3-17

Part Ban 523 National Bank Powers - Reserved

N.H. Code Admin. R. Ann. Ban 523.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-523.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 523.01}
  • 523.03 – REPEALED

History

  • #6260, eff 5-31-96, EXEMPT from expiration; ss by #9590, eff 11-9-09, EXEMPT from expiration; rpld by #12356, eff 8-3-17
N.H. Code Admin. R. Ann. Ban 523.04 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-523.04 omnilex-key=us-nh-regs-official--agency-ban--Ban 523.04}

– REPEALED

History

  • #9590, eff 11-9-09, EXEMPT from expiration; rpld by #12356, eff 8-3-17

Part Ban 524 Affiliate Agency Powers - Reserved

N.H. Code Admin. R. Ann. Ban 524.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-524.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 524.01}
  • 524.02 – REPEALED

History

  • #6315, eff 8-10-96, EXEMPT from expiration; rpld by #12356, eff 8-3-17

Part Ban 525 Federal Savings Association Powers - Reserved

N.H. Code Admin. R. Ann. Ban 525.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-525.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 525.01}
  • 525.03 – REPEALED

History

  • #7461, eff 3-16-01, EXEMPT from expiration; ss by #9591, eff 11-9-09, EXEMPT from expiration; rpld by #12356, eff 8-3-17
N.H. Code Admin. R. Ann. Ban 525.04 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-525.04 omnilex-key=us-nh-regs-official--agency-ban--Ban 525.04}
  • 525.05 – REPEALED

History

  • #9591, eff 11-9-09, EXEMPT from expiration; rpld by #12356, eff 8-3-17

Part Ban 526 F Ederal Credit Union Powers - Reserved

N.H. Code Admin. R. Ann. Ban 526.01 Adoption of Rules Under Rsa 394-a Granting State-Chartered Financial Institutions Powers of Corresponding Federally-Chartered Financial Institutions {#sec-ban-526.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 526.01}
  • 526.04 – REPEALED

APPENDIX

RULE

STATUTE

Ban 510.09

RSA 394-B:52-a

History

  • #9592, eff 11-9-09, EXEMPT from expiration; rpld by #12356, eff 8-3-17

Chapter Ban 700 had formerly been titled “General Provisions Applicable to Savings Banks, Trust Companies and Other Depository Institutions.” The last provision in that chapter expired 5-20-06. The filings affecting the former Ban 700 included the following documents:

Part Ban 701 Annual Assessment

N.H. Code Admin. R. Ann. Ban 701.01 Maximum Annual Assessment for Family Trust Companies {#sec-ban-701.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 701.01}

Pursuant to RSA 383:11, II(b), the maximum annual assessment amount chargeable to a family trust company shall be $14,000.

APPENDIX

Rule

Statute

Ban 701.01

RSA 383:11, II(b); RSA 383:9, VI

History

  • 11004, eff 12-23-15; ss by #14543, eff 3-26-26, EXPIRES: 3-26-36

Chapter Ban 1100 Bank Commissioner

Part Ban 1103 Annual Reports of Institutions

N.H. Code Admin. R. Ann. Ban 1103.01 Bank Commissioner {#sec-ban-1103.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 1103.01}

History

  • #4008, eff 3-3-86; ss by #4532, eff 11-18-88, EXPIRED: 11-18-94

Part Ban 1104 Fidelity Coverage Requirements

N.H. Code Admin. R. Ann. Ban 1104.01 Purpose and Scope {#sec-ban-1104.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 1104.01}

This part imposes requirements for fidelity bond coverage to indemnify New Hampshire chartered financial institutions against losses resulting from dishonest or fraudulent acts of officers, employees and agents of the institution, and acts such as robbery, burglary or forgery by persons not associated with the institution.

History

  • #4025, eff 3-26-86, EXPIRED 3-26-92
  • #6536, eff 7-2-97, EXPIRED: 7-2-05
  • #9767, eff 8-21-10, EXPIRED: 8-21-18
N.H. Code Admin. R. Ann. Ban 1104.02 Definitions {#sec-ban-1104.02 omnilex-key=us-nh-regs-official--agency-ban--Ban 1104.02}

(a) "Bank" means a New Hampshire chartered:

(1) Guaranty savings bank;

(2) Mutual savings bank;

(3) Merchant bank;

(4) Cooperative bank;

(5) Building and loan association;

(6) Savings and loan association;

(7) Commercial bank; or

(8) Trust company with depository powers.

(b) "Credit union" means a New Hampshire chartered credit union.

(c) “Nondepository trust company” means a New Hampshire chartered nondepository trust company, family fiduciary services company or family trust company.

History

  • #4025, eff 3-26-86, EXPIRED 3-26-92
  • #6536, eff 7-2-97, EXPIRED: 7-2-05
  • #9767, eff 8-21-10, EXPIRED: 8-21-18
N.H. Code Admin. R. Ann. Ban 1104.03 Fidelity Bond Requirements {#sec-ban-1104.03 omnilex-key=us-nh-regs-official--agency-ban--Ban 1104.03}

(a) Banks, credit unions and nondepository trust companies shall:

(1) Obtain fidelity bond coverage at the time the institution is authorized by the commissioner to transact business; and

(2) Maintain such coverage at all times while it remains in operation.

(b) Fidelity bond coverage shall be purchased from an insurance company:

(1) Rated “superior” or “excellent” by at least one nationally recognized statistical rating organization; and

(2) Licensed or approved by the New Hampshire insurance department to transact business in New Hampshire.

(c) Fidelity bonds at a minimum shall provide coverage for dishonest or fraudulent acts of all employees, including directors managers or trustees, when performing duties of an employee, all officers, and all agents of the institution, and acts such as robbery, burglary or forgery by persons not associated with the institution.

History

  • #4025, eff 3-26-86, EXPIRED 3-26-92
  • #6536, eff 7-2-97, EXPIRED: 7-2-05
  • #9767, eff 8-21-10, EXPIRED: 8-21-18
N.H. Code Admin. R. Ann. Ban 1104.04 Bank and Nondepository Trust Company Requirements {#sec-ban-1104.04 omnilex-key=us-nh-regs-official--agency-ban--Ban 1104.04}

(a) The board of directors, managers or trustees of the bank or nondepository trust company shall determine the amount of fidelity bond coverage, premised upon consideration of relevant factors, including, but not limited to, the following:

(1) Internal auditing safeguards employed;

(2) Number of employees;

(3) Amount of deposit liabilities and assets under management and administration; and

(4) Amount of cash and securities normally held by the bank or nondepository trust company.

(b) Fidelity bonds shall cover each officer, employee and agent who:

(1) Has control over or access to cash, securities, or other property of the institution; or

(2) Is otherwise actively concerned in the administration of the bank or nondepository trust company.

(c) Directors, managers and trustees of the bank or nondepository trust company shall not serve as sureties on the fidelity bonds.

(d) The acceptable bond format for banks and nondepository trust companies shall, at a minimum:

(1) For banks, meet the industry standard format, Financial Institution Bond Standard Form No. 24 dated 2004;

(2) For nondepository trust companies, meet the industry standard format, Financial Institution Bond Standard Form No. 14 dated 1987; or

(3) Contain insuring provisions equivalent to those found in the standard bond formats in (1) or (2) above, whichever is applicable.

History

  • #4025, eff 3-26-86: rpld by #4101, eff 7-24-86
  • #6536, eff 7-2-97, EXPIRED: 7-2-05
  • #9767, eff 8-21-10, EXPIRED: 8-21-18
N.H. Code Admin. R. Ann. Ban 1104.05 Credit Union Requirements {#sec-ban-1104.05 omnilex-key=us-nh-regs-official--agency-ban--Ban 1104.05}

(a) Credit unions shall obtain and maintain fidelity bond coverage in compliance with the minimum amounts required in the National Credit Union Administration Regulation Part 713 as amended May 13, 2008.

(b) The maximum amount of deductibles allowed to a credit union shall:

(1) Be based on the credit union's total assets; and

(2) Not exceed the deductible amounts set forth in the National Credit Union Administration Regulations Part 713 amended May 13, 2008.

(c) A deductible may be applied separately to one or more insuring clauses in a blanket bond.

(d) Notwithstanding Ban 1104.05(b), a deductible shall not exceed 10 percent of a credit union's guaranty fund unless the credit union creates a segregated contingency reserve for the amount of the excess.

(e) Valuation of allowance accounts, such as allowances for loan losses, shall not be considered part of the guaranty fund when determining the maximum deductible.

(f) The acceptable bond format for credit unions shall, at a minimum:

(1) Meet the industry standard format, Financial Institution Credit Union Blanket Bond Standard Form No. 23, dated 1950; or

(2) Be an equivalent that contains the same major areas of insuring agreements found in the standard bond format in (1) above.

History

  • #4025, eff 3-26-86; ss by #4101, eff 7-24-86, EXPIRED 7-24-92
  • #6536, eff 7-2-97, EXPIRED: 7-2-05
  • #9767, eff 8-21-10, EXPIRED: 8-21-18
N.H. Code Admin. R. Ann. Ban 1104.06 Notification Upon Termination and Cancellation {#sec-ban-1104.06 omnilex-key=us-nh-regs-official--agency-ban--Ban 1104.06}

(a) Fidelity bonds shall include provisions requiring the surety to give written notice to the commissioner:

(1) Ten days in advance of the cancellation or termination of a bond when such bond is cancelled or terminated in its entirety; and

(2) Immediately when such bond is cancelled or terminated in its entirety with less than 10 days notice.

(b) A bank, nondepository trust company or credit union shall give written notice to the commissioner within 10 days after a bond is cancelled or terminated for a specific employee, officer, or agent of the bank, nondepository trust company or credit union.

History

  • #4025, eff 3-26-86; amd by #4178, eff 12-4-86, EXPIRED: 3-26-92 and 12-4-92
  • #6536, eff 7-2-97, EXPIRED: 7-2-05
  • #9767, eff 8-21-10, EXPIRED: 8-21-18
N.H. Code Admin. R. Ann. Ban 1104.07 Notification of Changes in Coverage {#sec-ban-1104.07 omnilex-key=us-nh-regs-official--agency-ban--Ban 1104.07}

(a) Banks, nondepository trust companies and credit unions shall give written notice to the commissioner within 10 days of the following changes in fidelity bond coverage:

(1) Type of coverage;

(2) Increase in coverage;

(3) Decrease in coverage if the decrease equals less than 25 percent of the total aggregate amount of the coverage;

(4) Name of underwriter; or

(5) Name of insured.

(b) The notification required in (a) above shall be made a part of the official minutes of the board of directors, managers or trustees.

(c) A copy of the notification shall be maintained in the bank's, nondepository trust company’s or credit union’s insurance file for future reference.

History

  • #4025, eff 3-26-86, EXPIRED: 3-26-92
  • #6536, eff 7-2-97, EXPIRED: 7-2-05
  • #9767, eff 8-21-10, EXPIRED: 8-21-18
N.H. Code Admin. R. Ann. Ban 1104.08 Prior Approval of Decrease in Coverage {#sec-ban-1104.08 omnilex-key=us-nh-regs-official--agency-ban--Ban 1104.08}

(a) Banks, nondepository trust companies and credit unions shall submit a written request for commissioner approval at least 30 days in advance of a proposal to reduce fidelity bond coverage by 25 percent or more of the total aggregate amount of the coverage.

(b) The commissioner shall approve or deny the request within 30 days of receipt of the request.

(c) The commissioner shall:

(1) Approve a request for a reduction in fidelity bond coverage if such a reduction will not affect the safety and soundness of the institution; or

(2) Deny such a request only if the reduction will affect the safety and soundness of the institution.

History

  • #6536, eff 7-2-97, EXPIRED: 7-2-05
  • #9767, eff 8-21-10, EXPIRED: 8-21-18
N.H. Code Admin. R. Ann. Ban 1104.09 Duties of Board of Directors or Trustees {#sec-ban-1104.09 omnilex-key=us-nh-regs-official--agency-ban--Ban 1104.09}

(a) The board of directors, managers or trustees of a bank, nondepository trust company or credit union, shall, at least annually, review in detail the fidelity bond coverage in force in order to ensure such coverage meets the requirements of Ban 1104.04(a).

(b) Documentation of the board of directors' or trustees' periodic review and approval of fidelity bond coverage shall be included as part of the minutes of the meeting at which the board approves coverage and reviews coverage.

History

  • #6536, eff 7-2-97, EXPIRED: 7-2-05
  • #9767, eff 8-21-10 (from Ban 1104.08), EXPIRED: 8-21-18
N.H. Code Admin. R. Ann. Ban 1104.10 Additional Coverage {#sec-ban-1104.10 omnilex-key=us-nh-regs-official--agency-ban--Ban 1104.10}

A bank, nondepository trust company or credit union may maintain additional fidelity bond coverage through the use of endorsements, riders or other forms of supplemental coverage.

History

  • #6536, eff 7-2-97, EXPIRED: 7-2-05
  • #9767, eff 8-21-10, EXPIRED: 8-21-18
N.H. Code Admin. R. Ann. Ban 1104.11 Bonds for Agents {#sec-ban-1104.11 omnilex-key=us-nh-regs-official--agency-ban--Ban 1104.11}

(a) An agent appointed by the bank, nondepository trust company or credit union, the agent may provide a fidelity bond in an amount at least twice the average monthly collections of such agent, provided:

(1) Such agent makes settlement with the bank, nondepository trust company or credit union at least monthly; and

(2) Such bond is approved by the board of directors, managers or trustees of the bank, nondepository trust company or credit union.

(b) An agent that is a financial institution insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration shall not need a bond.

History

  • #6536, eff 7-2-97, EXPIRED: 7-2-05
  • #9767, eff 8-21-10, EXPIRED: 8-21-18

Part Ban 1105 Purchase and Sale of Securities

N.H. Code Admin. R. Ann. Ban 1105.01 Bank Commissioner {#sec-ban-1105.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 1105.01}

– Ban 1105.03

History

  • #4100, eff 7-24-86, EXPIRED: 7-2-90
  • #6311, eff 8-3-96, EXPIRED: 8-3-04
N.H. Code Admin. R. Ann. Ban 1105.04 Bank Commissioner {#sec-ban-1105.04 omnilex-key=us-nh-regs-official--agency-ban--Ban 1105.04}

History

  • #4717, eff 12-6-89, EXPIRED 12-6-95
  • #6311, eff 8-3-96, EXPIRED: 8-3-04

Part Ban 1106 Consumer Complaints Against Banks

N.H. Code Admin. R. Ann. Ban 1106.01 Bank Commissioner {#sec-ban-1106.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 1106.01}

History

  • #5011, eff 11-28-90; ss by #6312, eff 8-3-96, EXPIRED: 8-3-04

Part Ban 1107 Amendments to Credit Union Bylaws

N.H. Code Admin. R. Ann. Ban 1107.01 Amendments {#sec-ban-1107.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 1107.01}

to Credit Union Bylaws.

(a) A state credit union seeking to amend its bylaws shall file an application with the commissioner in writing requesting authorization to amend by providing:

(1) A certified copy of the current bylaws conspicuously labeled “Current Bylaws”;

(2) An annotated copy of the proposed amended bylaws clearly setting forth the deletions and additions to the current bylaws conspicuously labeled “Annotated Bylaws”; and

(3) A certified copy of the vote of the state credit union’s board of directors authorizing the amendment.

(b) The commissioner shall approve an application and the proposed amendments if the bylaws:

(1) Comply with the applicable provisions of RSA 383-A and 383-E; and

(2) Are approved in accordance with Ban 1107.02, if seeking a change in membership qualifications.

(c) Upon receipt of the commissioner’s approval of the bylaw amendment application, the state credit union shall provide the commissioner with a certified copy of the revised bylaws.

History

  • #8486, eff 11-11-05; ss by #10524, eff 2-20-14; ss by #13993, eff 6-1-24
N.H. Code Admin. R. Ann. Ban 1107.02 Expanding the Qualifications for Membership {#sec-ban-1107.02 omnilex-key=us-nh-regs-official--agency-ban--Ban 1107.02}

(a) An application seeking to amend bylaws by expanding the qualifications for membership shall provide parameters limiting the qualifications so that the membership is no larger than:

(1) Individuals who live, work, worship, or attend school in the state of New Hampshire; or

(2) Individuals who are part of a clearly defined group or located in a particular geographic area.

(b) An application seeking to expand the qualifications for membership under (a)(2) above that expands the field of membership to individuals living outside the state of New Hampshire shall include a letter approving the expansion from the state regulator where the new members live.

(c) An application seeking to amend bylaws for qualifications for membership shall include a business plan demonstrating the credit union's ability to serve the membership and include:

(1) The benefit to the state credit union of the change in qualifications for membership;

(2) A plan for delivery of services to the new membership;

(3) A procedure to verify individuals meet the requirements of qualifications for membership; and

(4) A demonstration of the state credit union’s financial ability to complete the plan.

(d) An application for changes to qualifications for membership shall be posted 30 days prior to the change on the department website.

(e) Within 30 days of publication on the department website, any party may notify the commissioner of its interest in the application.

(f) Communications provided to the commissioner under (e) above regarding a state credit union’s application to enlarge its field of membership shall be:

(1) In writing; and

(2) Received by the department prior to the conclusion of the 30-day notice period.

(g) A public hearing on the application shall be held if the information submitted pursuant to (c) above is insufficient upon which to base the commissioner’s decision.

(h) An application to amend the bylaws to change the qualifications for membership shall be approved after:

(1) Consideration of comments received or testimony provided during a public hearing if one is held; and

(2) The commissioner finds that the proposed amendments comply with the applicable provisions of RSA 383-A and RSA 383-E and the state credit union is able to serve the proposed membership in accordance with the business plan provided in (c).

APPENDIX

RULE

STATUTE

Ban 1104

RSA 383:14,I II

Ban 1107

RSA 383-E:3-311; RSA 383-E:1-104; RSA 383-A:6-601

History

  • #10524, eff 2-20-14; ss by #13993, eff 6-1-24

Chapter Ban 1400 Savings Bank

Part Ban 1450 Collateralization of Public Deposits

N.H. Code Admin. R. Ann. Ban 1450.01 Purpose {#sec-ban-1450.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 1450.01}

The purpose of this rule is to identify and classify by risk those securities that are appropriate for the collateralization of public funds.

History

  • #5465, eff 9-8-92, EXPIRED: 9-8-98
  • #6961, eff 3-25-99, EXPIRED: 3-25-07
  • #9187, eff 6-24-08, INTERIM, EXPIRED: 12-21-08
  • #9557, eff 10-3-09; ss by #10997, INTERIM, eff 12-23-15, EXPIRES: 6-20-16; ss by #11113, eff 6-1-16
N.H. Code Admin. R. Ann. Ban 1450.02 Definitions {#sec-ban-1450.02 omnilex-key=us-nh-regs-official--agency-ban--Ban 1450.02}

(a) “Nationally Recognized Statistical Rating Organization (NRSRO)” means a nationally recognized statistical rating organization designated by the U.S. Securities and Exchange Commission.

(b) "Public funds" means moneys belonging to or in an account of any public unit.

(c) "Public unit" means the state of New Hampshire or any county, city, town, district, school district, or other political subdivision of the state of New Hampshire.

History

  • #5221 (Emergency) eff 9-6-91, EXPIRED 1-7-92; #5307, eff 1-9-92, EXPIRED 5-8-92 (Int 91-9)
  • #5465, eff 9-8-92, EXPIRED: 9-8-98
  • #6961, eff 3-25-99, EXPIRED: 3-25-07
  • #9187, eff 6-24-08, INTERIM, EXPIRED: 12-21-08
  • #9557, eff 10-3-09; ss by #10997, INTERIM, eff 12-23-15, EXPIRES: 6-20-16; ss by #11113, eff 6-1-16
N.H. Code Admin. R. Ann. Ban 1450.03 Amount of Collateralization {#sec-ban-1450.03 omnilex-key=us-nh-regs-official--agency-ban--Ban 1450.03}

(a) If a public unit exercises the option to have its public funds secured by the pledge of securities, the value of securities pledged as collateral shall be equal to or in excess of the amount of public funds, less any portion thereof that is covered by federal deposit insurance.

(b) For purposes of Ban 1450, securities shall be valued at market value.

History

  • #5465, eff 9-8-92, EXPIRED: 9-8-98
  • #6961, eff 3-25-99, EXPIRED: 3-25-07
  • #9187, eff 6-24-08, INTERIM, EXPIRED: 12-21-08
  • #9557, eff 10-3-09; ss by #10997, INTERIM, eff 12-23-15, EXPIRES: 6-20-16; ss by #11113, eff 6-1-16
N.H. Code Admin. R. Ann. Ban 1450.04 Public Obligations {#sec-ban-1450.04 omnilex-key=us-nh-regs-official--agency-ban--Ban 1450.04}

(a) All public obligations described in RSA 383-B:3-303(c), shall be appropriate and acceptable for the collateralization of public funds.

(b) For purposes of RSA 383-B:3-303(c)(2), the following obligations shall be appropriate and acceptable for the collateralization of public funds:

(1) Obligations of the following federal agencies, federal corporations, and other entities:

a. Export-Import Bank of the United States;

b. General Services Administration;

c. Maritime Administration of the U.S. Department of Transportation;

d. Small Business Administration; and

e. The following obligations of the Department of Housing and Urban Development, its government corporations, entities, and programs:

  1. Federal Housing Administration;

  2. Government National Mortgage Association (Ginnie Mae);

  3. Community development; and

  4. Public housing notes and bonds.

(2) Obligations of the following federal government-sponsored enterprises shall qualify as acceptable collateral for public funds:

a. Federal Farm Credit Banks, including:

  1. Banks for Cooperatives;

  2. Federal Intermediate Credit Banks;

  3. Federal Land Banks.

b. Federal Home Loan Banks, including irrevocable standby letters of credit issued by a Federal Home Loan Bank possessing the highest rating issued by at least one NRSRO;

c. Federal Home Loan Mortgage Corporation (Freddie Mac);

d. Federal National Mortgage Association (Fannie Mae); and

e. Tennessee Valley Authority.

History

  • #5221 (Emergency) eff 9-6-91, EXPIRED 1-7-92; #5307, eff 1-9-92, EXPIRED 5-8-92 (Int 91-9)
  • #5465, eff 9-8-92, EXPIRED: 9-8-98
  • #6961, eff 3-25-99, EXPIRED: 3-25-07
  • #9187, eff 6-24-08, INTERIM, EXPIRED: 12-21-08
  • #9557, eff 10-3-09; ss by #10997, INTERIM, eff 12-23-15, EXPIRES: 6-20-16; ss by #11113, eff 6-1-16
N.H. Code Admin. R. Ann. Ban 1450.05 Corporate Securities {#sec-ban-1450.05 omnilex-key=us-nh-regs-official--agency-ban--Ban 1450.05}

(a) All bonds and notes authorized as legal investments for banks under RSA 383-B:303(d)(1), shall qualify as appropriate and acceptable collateral for public funds.

(b) Notwithstanding the provisions of RSA 383-B:303(d)(1), convertible bonds not rated among the 3 highest ratings of any NRSRO shall not qualify as acceptable collateral for public funds.

History

  • #5221 (Emergency) eff 9-6-91, EXPIRED 1-7-92; #5307, eff 1-9-92, EXPIRED 5-8-92 (Int 91-9)
  • #5465, eff 9-8-92, EXPIRED: 9-8-98
  • #6961, eff 3-25-99, EXPIRED: 3-25-07
  • #9187, eff 6-24-08, INTERIM, EXPIRED: 12-21-08
  • #9557, eff 10-3-09; ss by #10997, INTERIM, eff 12-23-15, EXPIRES: 6-20-16; ss by #11113, eff 6-1-16
N.H. Code Admin. R. Ann. Ban 1450.06 Classification by Risk {#sec-ban-1450.06 omnilex-key=us-nh-regs-official--agency-ban--Ban 1450.06}

All collateral enumerated in Ban 1450.04 and Ban 1450.05 shall be identically classified as low risk collateral for public funds on deposit.

APPENDIX

Rule

Specific State Statute the Rule Implements

Ban 1450

RSA 383-B:3-301(e)(2)

History

  • #6961, eff 3-25-99, EXPIRED: 3-25-07
  • #9187, eff 6-24-08, INTERIM, EXPIRED: 12-21-08
  • #9557, eff 10-3-09; ss by #10997, INTERIM, eff 12-23-15, EXPIRES: 6-20-16; ss by #11113, eff 6-1-16

Chapter Ban 1800 Trust and Banking Companies

Part Ban 1801 Reserved

N.H. Code Admin. R. Ann. Ban 1801.01 Calculation of Bank Reserves {#sec-ban-1801.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 1801.01}
  • REPEALED

History

  • #4083, eff 7-7-86, EXPIRED: 7-7-92
  • #7486, eff 5-2-01, EXPIRED: 5-2-09
  • #9755, eff 7-16-10; rpld by #12394, eff 9-29-17

Part Ban 1802 Deposit of Securities with Clearing Corporation

N.H. Code Admin. R. Ann. Ban 1802.01 Receipt {#sec-ban-1802.01 omnilex-key=us-nh-regs-official--agency-ban--Ban 1802.01}

(a) A trust company that deposits securities with a clearing corporation, as defined in RSA 382-A:8-102(5), by physical delivery of certificates shall obtain a receipt from the clearing corporation for the securities delivered.

(b) The receipt shall:

(1) Be signed and dated by a representative of the clearing corporation; and

(2) Describe the security or securities deposited.

(c) A trust company shall retain receipts for securities physically delivered to a clearing corporation for a period of 2 years after the clearing corporation relinquishes possession of the deposited securities.

(d) A trust company shall make such receipts available for inspection by bank examiners as part of any regular, special, or limited purpose examination by the banking department.

History

  • #4083, eff 7-7-86, EXPIRED: 7-7-92
  • #7486, eff 5-2-01, EXPIRED: 5-2-09
  • #9755, eff 7-16-10
N.H. Code Admin. R. Ann. Ban 1802.02 Clearing Corporation Location {#sec-ban-1802.02 omnilex-key=us-nh-regs-official--agency-ban--Ban 1802.02}

Trust companies may deposit securities with clearing corporations located outside the state of New Hampshire.

History

  • #4083, eff 7-7-86, EXPIRED: 7-7-92
  • #7486, eff 5-2-01, EXPIRED: 5-2-09
  • #9755, eff 7-16-10

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