SB150 (2005) Detail

Relative to application fees for certain bank incorporations.


CHAPTER 124

SB 150-FN – FINAL VERSION

2005 SESSION

05-0788

06/01

SENATE BILL 150-FN

AN ACT relative to application fees for certain bank incorporations.

SPONSORS: Sen. Flanders, Dist 7

COMMITTEE: Banks and Insurance

ANALYSIS

This bill changes the fees for certain bank incorporations.

This bill is a request of the banking department.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

05-0788

06/01

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Five

AN ACT relative to application fees for certain bank incorporations.

Be it Enacted by the Senate and House of Representatives in General Court convened:

124:1 Conversion Between State and National Banks; Approval of Application; Filing Fee Changed. Amend RSA 389:5 to read as follows:

389:5 Approval of Application. The board of trust company incorporation upon being satisfied that such application conforms to law shall indorse its approval thereon and thereupon said application shall be filed in the office of the secretary of state, who, upon payment of a fee equal to [1/10 of one percent of the capital stock of said corporation as set forth in said articles] the fee charged by the secretary of state to business corporations under RSA 293-A, shall cause the same, with the approval indorsed thereon, to be recorded and shall issue a certificate of incorporation as prescribed in RSA 392:18.

124:2 Conversion Between Mutual Savings Banks, Cooperative Banks, Building and Loan Associations, Guaranty Savings Banks, Commercial Banks, Trust Companies, and Savings and Loan Associations; Approval of Application; Filing Fee. Amend RSA 389-A:3 to read as follows:

389-A:3 Approval of Application. The bank commissioner, upon being satisfied that the application conforms to law, shall endorse his or her approval thereon, and thereupon said application shall be filed in the office of the secretary of state, who, upon payment of a fee equal to [1/20 of one percent of the capital funds of the institution as converted, however, not less than $100 nor more than $500 in any case] the fee charged by the secretary of state to business corporations under RSA 293-A, shall cause the same, with the approval endorsed thereon, to be recorded and shall issue a certificate of incorporation as prescribed in RSA 386-A or RSA 393, as the case may be. Such certificate shall be deemed an amendment to the pre-existing charter or articles of agreement of the converting institution and its corporate existence shall not thereby be interrupted. The bank commissioner may require the converting institution to change its investment portfolio to conform to the laws regulating the investments of the institution as converted.

124:3 Incorporation and Management of Trust Companies; Procedure; Filing Fee Changed. Amend RSA 392:28 to read as follows:

392:28 Procedure; Effect. If the decision is favorable to the petition a copy of the said amended certificate or charter, certified by the clerk of the corporation, with the approval of said board indorsed thereon, shall be filed in the office of the secretary of state, accompanied by a fee equal to [1/10 of one percent of any increase in the capital stock provided for by such amended certificate or charter] the fee charged by the secretary of state to business corporations under RSA 293-A, and thereupon the secretary of state shall cause the same, with the endorsement thereon, to be recorded as provided in RSA 392:17, and shall issue a certificate of such amended incorporation, which shall conform as nearly as may be to the form prescribed in RSA 392:18 and shall have the same force and effect, and thereafter such corporation shall have all the powers and privileges provided for by such amended certificate or charter and shall be subject to all the provisions of this chapter.

124:4 Effective Date. This act shall take effect 60 days after its passage.

(Approved: June 15, 2005)

(Effective Date: August 14, 2005)

Links

SB150 at GenCourtMobile

Action Dates

Date Body Type

Bill Text Revisions

SB150 Revision: 9206 Date: Jan. 21, 2010, midnight

Docket