TITLE XXXV BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
CHAPTER 383-C TRUST COMPANY ACT
ARTICLE 9 Conservatorship to Address Safety and Soundness Issues
Section 383-C:9-901
383-C:9-901 Appointment of Conservator. –
If the commissioner determines that the business of any trust company is being conducted in an unsafe or unsound manner, then the commissioner may appoint a conservator for the trust company under RSA 396 who shall immediately take charge of the operation of the trust company for the purpose of correcting any unsafe or unsound condition or operation. After appointment, the conservator shall continue to serve under the direction of the commissioner for a period of time as the commissioner determines is reasonable and necessary or until relieved by order of the commissioner or of a court of competent jurisdiction. The conservator's salary, which shall be determined by the commissioner, and expenses shall be borne by the trust company under conservatorship. Except as provided in this section, a conservatorship of a trust company shall be governed by RSA 396.