New Hampshire § 384-F-15 - Section 384-F:15 Fiduciary Activities.

§ 384-F-15. Section 384-F:15 Fiduciary Activities.

I. No foreign bank which is licensed to establish and maintain a New Hampshire state branch or New Hampshire state agency shall engage in fiduciary activities at such office unless such foreign bank shall have first obtained a certificate of authority from the commissioner to engage in fiduciary activities at such office. II. An application to obtain a certificate of authority to engage in fiduciary activities shall be in such form and contain such information as the commissioner requires by rules adopted pursuant to RSA 541-A, and shall be accompanied by an application fee of $1,500. The commissioner shall issue a certificate of authority to engage in fiduciary activities to a foreign bank making an application under this section if he or she finds that such foreign bank will exercise fiduciary powers in accordance with the laws and rules of this state. III. A foreign bank which holds a certificate of authority issued under this section may engage at its New Hampshire state branch or New Hampshire state agency in fiduciary activities to the same extent and in the same manner as if such foreign bank were a New Hampshire state bank. IV. A foreign bank which holds a certificate of authority issued under this section shall file all such reports, pay all fees in accordance with the requirements of RSA 384-F:30, and be subject to examination and supervision as the commissioner may determine by rules adopted pursuant to RSA 541-A. V. The commissioner may suspend or revoke a certificate to engage in fiduciary activities issued under this section if he or she finds: (a) That conditions exist which would authorize the commissioner under this chapter to revoke or suspend such foreign bank's license to establish and maintain a New Hampshire state branch or New Hampshire state agency; or (b) Any fact or condition exists which, if it had existed at the time of the foreign bank's original application to obtain a certificate of authority to engage in fiduciary activities, would have resulted in the commissioner refusing to issue such certificate of authority to the foreign bank.