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RSA 383-C:5-501 · Required Capital, Fidelity Bond, Liability Insurance Generally

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:5-501 Required Capital, Fidelity Bond, Liability Insurance Generally. – A trust company shall maintain the level of capital required under RSA 383-C:5-502, a fidelity bond under RSA 383-A:4-405, an errors and omissions liability insurance policy under RSA 383-A:4-406, and a liquidation pledge under RSA 383-C:5-503. The commissioner shall consider a trust company's safety and soundness and the protection of the trust company's clients in determining the appropriate amounts of required capital, fidelity bond coverage, errors and omissions liability insurance coverage, and liquidation pledge for the trust company. In addition to the requirements in RSA 383-A:4-405 and RSA 383-A:4-406, any insurance deductible shall be reasonable and shall not jeopardize the safe and sound operation of the trust company. Source. 2015, 272:16, eff. Oct. 1, 2015. 2019, 169:12, eff. Sept. 8, 2019.

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Source note

Source. 2015, 272:16, eff. Oct. 1, 2015. 2019, 169:12, eff. Sept. 8, 2019.

Source history

2015, 272:16, eff. Oct. 1, 2015
2019, 169:12, eff. Sept. 8, 2019

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