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RSA 383-C:6-603 · Officers

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:6-603 Officers. –

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(a)

In the case of a trust company organized as a corporation, the trust company shall have a president, a treasurer, and a secretary and may appoint one or more other officers.

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(b)

In the case of a trust company organized as a limited liability company, the trust company shall have one or more officers, whose titles, duties, and powers are set forth in the trust company's governing documents. The trust company shall designate each officer whose duties and powers are functionally equivalent to the duties and powers customarily held by the president, treasurer, or secretary of a corporation.

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(c)

The board of directors shall appoint each officer in accordance with the trust company's governing documents. The board of the directors shall have the power to remove each officer. Except as otherwise provided in the governing documents, an officer shall serve for a term that that does not exceed 3 years.

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(d)

RSA 383-A:5-504 shall not apply to trust companies. Source. 2015, 272:16, eff. Oct. 1, 2015.

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Source note

Source. 2015, 272:16, eff. Oct. 1, 2015.

Source history

  • 2015, 272:16, eff. Oct. 1, 2015

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