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:9
384-F:9 Branches and Agencies of Foreign Banks; Necessity of Licensure. –
I. No foreign bank shall transact business in this state except at a New Hampshire state branch or New Hampshire state agency which it is licensed to establish and maintain pursuant to this chapter, and at which it conducts such activities as are permitted by this chapter.
II. Paragraph I shall not be deemed to prohibit:
(a) Any foreign bank which establishes and maintains a federal agency or federal branch in this state from transacting at such federal agency or federal branch such business as it may be authorized to transact under applicable federal laws and regulations;
(b) Any foreign bank which does not maintain a New Hampshire state branch or New Hampshire state agency from making in this state loans secured by liens on real or personal property located in this state or enforcing such loans in this state;
(c) Any foreign bank which does not maintain a New Hampshire branch or New Hampshire agency from transacting trust business in this state as long as the trust business is not conducted from an office or location in this state;
(d) Any foreign bank which maintains a New Hampshire branch or agency from transacting business as agent for an affiliated depository or other institution in accordance with provisions of this chapter; or
(e) Any foreign bank organized under the laws of a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, the deposits of which are insured by the Federal Deposit Insurance Corporation, from establishing and operating an interstate branch in this state in its capacity as a "state bank" as defined in the Federal Deposit Insurance Act, pursuant to the authorities contained in that Act and in the laws of this state.
III. For purposes of paragraph I, no foreign bank shall be deemed to be transacting business in this state merely because a subsidiary or affiliate transacts business in this state, including business that any depository institution, subsidiary, or affiliate may lawfully conduct in this state as an agent for the foreign bank in accordance with and to the extent authorized by the laws of this state and applicable rules, regulations, or orders of the commissioner.