RSA 383:9-d · Examination of Banks, Credit Unions, Trust Companies, and Family Trust Companies

383:9-d Examination of Banks, Credit Unions, Trust Companies, and Family Trust Companies. –

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I.

Unless an exception is granted as provided in paragraph II, the commissioner shall examine the condition and management of all depository banks and credit unions every 18 months or more often when necessary in his or her judgment. The commissioner shall examine the condition and management of all trust companies in accordance with RSA 383-C:14-1401. The commissioner shall examine the condition and management of all family trust companies in accordance with RSA 383-D:11-1101.

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II.

For entities that qualify under paragraph III, the commissioner may alternate every 18 months between conducting an examination of the entity and either waiving one examination, or accepting the examination report of a federal or state regulator or group of regulators with authority to conduct a similar type of examination of the entity.

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III.

A depository bank or credit union qualifies for examination treatment under paragraph II if:

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(a)

It has consistently been given high ratings in past exams;

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(b)

It is not currently subject to an enforcement proceeding or order; and

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(c)

The commissioner has deemed it prudent to apply this paragraph and paragraph II.

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IV.

The commissioner shall examine the condition and management of all consumer credit licensees as required by law, every 24 months, or more often when necessary in his or her judgment. In lieu of his or her own report, the commissioner may accept a report of a federal or state regulator or group of regulators with authority to conduct a similar type of examination of the entity.

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V.

The commissioner may waive an examination of a licensee if:

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(a)

The licensee has consistently had examinations with few or no cited violations of law or has not conducted significant business in the state during the exam period;

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(b)

The licensee is not currently subject to any enforcement proceeding or order from any state or federal regulatory authority; and

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(c)

The commissioner has deemed it prudent to apply this paragraph and paragraph IV.

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VI.

In no event shall a licensee be examined less than every 48 months. Source. 1985, 55:5. 2003, 165:2. 2006, 320:2. 2013, 238:9. 2015, 272:9, eff. Oct. 1, 2015. 2017, 257:34, 35, eff. Sept. 16, 2017. 2019, 168:3, 4, 20, eff. July 10, 2019.

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