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RSA 383-C:12-1202 · Qualified Trust Advisor Powers

Title
XXXV: BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
Chapter
383-C · TRUST COMPANY ACT
Status
current
Official source linked
Yes
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383-C:12-1202 Qualified Trust Advisor Powers. –

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(a)

A qualified trust advisor that acts as a trust advisor or trust protector in this state, either by acting in such capacity from an office in this state or by acting in such capacity for a trust administered in this state, is not a bank and shall not be required to obtain a charter as a bank, so long as the qualified trust advisor exercises only limited-scope discretionary power as to each trust the qualified trust advisor serves as trust advisor or trust protector.

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(b)

Except as provided under this article, a qualified trust advisor shall not engage in trust business or banking business. Before engaging in any banking business or trust business that is not permitted under this article, a qualified trust advisor shall obtain a charter as a bank.

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(c)

Nothing in this article shall limit a registered advisor from serving as trust advisor or trust protector in this state. Source. 2015, 272:16, eff. Oct. 1, 2015. ARTICLE 13 Reports and Other Filings

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Source note

Source. 2015, 272:16, eff. Oct. 1, 2015. ARTICLE 13 Reports and Other Filings

Source history

  • 2015, 272:16, eff. Oct. 1, 2015. ARTICLE 13 Reports and Other Filings

Related materials

Bill relationships

  • 2026 HB1207 amend · effective 2027-07-01

    e clerk, within 10 days after the vote is taken. 12 New Section; Banks and Banking; Loan Associations; Credit Unions; Trust Company Changes; Modification of Conditions. Amend RSA 383-C by inserting after section 8-807 the following new section: 383-C:8-808 Modification of Conditions. A trust company shall submit an application in accordance with RSA 383-A:6-602 to seek the prior consent of the co

  • 2026 HB1207-FN amend · effective 2027-07-01

    e clerk, within 10 days after the vote is taken. 12 New Section; Banks and Banking; Loan Associations; Credit Unions; Trust Company Changes; Modification of Conditions. Amend RSA 383-C by inserting after section 8-807 the following new section: 383-C:8-808 Modification of Conditions. A trust company shall submit an application in accordance with RSA 383-A:6-602 to seek the prior consent of the co