RSA 383-D:8-801 · Board of Directors

383-D:8-801 Board of Directors. –

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(a)

A family trust company shall have a board of directors, and that board of directors must have not less than three members. A director need not be a resident of New Hampshire or a citizen of the United States, unless otherwise required by the commissioner in consideration of the family trust company's safety and soundness. RSA 383-C:6-601(a) shall not apply to family trust companies.

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(b)

Subject to any limitations set forth in its organizational documents, this chapter, and RSA 383-C, all of the family trust company's powers shall be exercised by or under the authority of the family trust company's board of directors. Source. 2015, 272:16, eff. Oct. 1, 2015. 2021, 194:19, eff. Oct. 9, 2021.

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