TITLE XXXV BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
CHAPTER 384-F THE NEW HAMPSHIRE INTERNATIONAL BANKING ACT
Direct Branch, Agency, and Representative Offices of Foreign Banks
Section 384-F:40
384-F:40 Voluntary Closure of Branch, Agency, or Representative Office; Application. –
I. No foreign bank which is licensed to establish and maintain a New Hampshire state branch, New Hampshire state agency, or New Hampshire representative office shall close such branch, agency, or office without filing an application with and obtaining the prior approval of the commissioner. An application by a foreign bank under this section shall be in such form and include such information as the commissioner shall establish by rules adopted pursuant to RSA 541-A or by order.
II. If the commissioner finds, with respect to an application by a foreign bank under this section, that the closing of such branch, agency, or office will not be substantially detrimental to the public convenience and advantage, the commissioner shall approve such application and may impose such conditions precedent and subsequent to such approval as the commissioner may deem prudent or necessary. If the commissioner finds otherwise, he or she shall deny the application.
III. Whenever an application by a foreign bank under this section has been approved and all conditions precedent to such closing have been fulfilled, such foreign bank may close such branch, agency, or office and shall promptly thereafter surrender to the commissioner the license which authorized the foreign bank to maintain the office.