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2017 New Hampshire Revised Statutes
Title XXXV - BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
Chapter 383 - BANK COMMISSIONER
Section 383:9 - Duties.
Universal Citation: NH Rev Stat § 383:9 (2017)
383:9 Duties. –
I. The commissioner shall have general supervision of and shall conduct examinations of all state banks, trust companies, family trust companies, credit unions, and other entities licensed by the department as may be designated by law from time to time. He or she may inspect the books of those entities and their papers, notes, bonds, and other evidences of debt. By that examination, the commissioner shall determine the true financial condition of the entities, their ability to perform their engagements, and whether they have violated any provision of law.
II. The commissioner may conduct investigations of the persons identified in paragraph I and of persons believed to be engaged in unlicensed activity in the state.
III. The cost of any examination or investigation shall be borne by the person examined or investigated. In the case of an unlicensed person, investigative costs will be assessed only if the person is determined to have engaged in unlicensed activity.
IV. In the course of conducting any examination or investigation of any entity and subject to the limitations of federal law, the commissioner shall have the jurisdiction and power to examine any affiliate of the entity, as defined in RSA 383-A:2-201(a). The examination of an entity's affiliate, shall be limited to those issues which, in the determination of the commissioner, affect the safe and sound operation of the entity and the relationship between the entity and the affiliate.
V. The commissioner may conduct an examination or investigation during business hours, at any location of the entity's operations, including any place where assets are located or where records are made, posted, or kept. The commissioner shall have the power to conduct such an examination or investigation outside the state of New Hampshire and outside the United States and its territories.
VI. The commissioner may adopt rules, under RSA 541-A, relative to the duties assigned to him or her by this chapter.
I. The commissioner shall have general supervision of and shall conduct examinations of all state banks, trust companies, family trust companies, credit unions, and other entities licensed by the department as may be designated by law from time to time. He or she may inspect the books of those entities and their papers, notes, bonds, and other evidences of debt. By that examination, the commissioner shall determine the true financial condition of the entities, their ability to perform their engagements, and whether they have violated any provision of law.
II. The commissioner may conduct investigations of the persons identified in paragraph I and of persons believed to be engaged in unlicensed activity in the state.
III. The cost of any examination or investigation shall be borne by the person examined or investigated. In the case of an unlicensed person, investigative costs will be assessed only if the person is determined to have engaged in unlicensed activity.
IV. In the course of conducting any examination or investigation of any entity and subject to the limitations of federal law, the commissioner shall have the jurisdiction and power to examine any affiliate of the entity, as defined in RSA 383-A:2-201(a). The examination of an entity's affiliate, shall be limited to those issues which, in the determination of the commissioner, affect the safe and sound operation of the entity and the relationship between the entity and the affiliate.
V. The commissioner may conduct an examination or investigation during business hours, at any location of the entity's operations, including any place where assets are located or where records are made, posted, or kept. The commissioner shall have the power to conduct such an examination or investigation outside the state of New Hampshire and outside the United States and its territories.
VI. The commissioner may adopt rules, under RSA 541-A, relative to the duties assigned to him or her by this chapter.
Source. RS 140:22. GS 152:4, 5. GL 166:4. 1889, 12:2; 55:2. PS 162:6. 1925, 143:7. PL 259:7. 1929, 176:1. RL 307:8. RSA 383:9. 1981, 173:3. 1985, 55:4. 2013, 238:8. 2015, 272:7, eff. Oct. 1, 2015.
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