SB333 (2024) Detail

Relative to access to financial services for minors in legal custody or guardianship and relative to the board of directors of mutual banks and mutual holding companies.


SB 333 - VERSION ADOPTED BY BOTH BODIES

 

 

2024 SESSION

24-2839

08/05

 

SENATE BILL 333

 

AN ACT relative to access to financial services for minors in legal custody or guardianship and relative to the board of directors of mutual banks and mutual holding companies.

 

SPONSORS: Sen. Carson, Dist 14; Sen. Gannon, Dist 23; Sen. Whitley, Dist 15; Rep. Hunt, Ches. 14

 

COMMITTEE: Commerce

 

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ANALYSIS

 

This bill makes provisions for minors in legal custody or guardianship arrangements to open a bank account under certain conditions.

 

This bill also requires that the board of directors of mutual banks and mutual holding companies live in New Hampshire or in a state that borders New Hampshire.

 

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

24-2839

08/05

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Twenty Four

 

AN ACT relative to access to financial services for minors in legal custody or guardianship and relative to the board of directors of mutual banks and mutual holding companies.

 

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

 

1  New Section; Residential Care and Child-Placing Agencies; Consent for Certain Minors to Open Banking Accounts.  Amend RSA 170-E by inserting after section 51 the following new section:

170-E:51-a Consent for Certain Minors to Open Banking Accounts.

A minor who is 16 years of age or older and who is in the legal custody of the department of health and human services pursuant to an order from a court of competent jurisdiction shall be deemed qualified and competent to contract for the opening of a checking or savings account with a bank or credit union upon the written consent of the department or pursuant to an order rendered by a court of competent jurisdiction.  Such consent may be conditional to a maximum dollar amount for protection of public benefits available to the minor or other such protective action as required.  The minor shall be responsible for paying all banking-related costs associated with the checking or savings account and shall be liable for any and all penalties should he or she violate a banking agreement.  The department, foster parent, court appointed guardian or entity providing case management of children on behalf of a department shall not be responsible for paying any bank fees nor liable for any and all penalties related to violation of a banking agreement made under this section.  The commissioner may adopt rules, under RSA 541-A, as necessary to implement the purposes of this section.

2  Management; Depository Bank.  Amend RSA 383-B:3-302(a) to read as follows:

(a)  A depository bank shall have a board of not less than 5 directors, of which a majority shall be residents of New Hampshire or a state that borders New Hampshire.

3  Effective Date.  

I.  Section 1 of this act shall take effect 60 days after its passage.

II.  The remainder of this act shall take effect upon its passage.

Links


Date Body Type
Jan. 9, 2024 Senate Hearing
Jan. 18, 2024 Senate Floor Vote
April 24, 2024 House Hearing
May 15, 2024 House Exec Session
May 15, 2024 House Floor Vote

Bill Text Revisions

SB333 Revision: 42404 Date: May 24, 2024, 10:45 a.m.
SB333 Revision: 40122 Date: Dec. 11, 2023, 12:54 p.m.

Docket


May 23, 2024: Ought to Pass: MA VV 05/23/2024 HJ 14


May 15, 2024: Committee Report: Ought to Pass 05/15/2024 (Vote 18-0; CC) HC 20 P. 5


May 8, 2024: Executive Session: 05/15/2024 10:00 am LOB 302-304


May 1, 2024: Subcommittee Work Session: 05/08/2024 10:00 am LOB 302-304


April 9, 2024: Public Hearing: 04/24/2024 11:00 am LOB 302-304


Feb. 29, 2024: Introduced (in recess of) 02/22/2024 and referred to Commerce and Consumer Affairs HJ 6


Jan. 18, 2024: Ought to Pass: MA, VV; OT3rdg; 01/18/2024; SJ 2


Jan. 11, 2024: Committee Report: Ought to Pass, 01/18/2024; Vote 5-0; CC; SC 3


Dec. 19, 2023: Hearing: 01/09/2024, Room 100, SH, 09:20 am; SC 49


Dec. 11, 2023: To Be Introduced 01/03/2024 and Referred to Commerce; SJ 1