New Hampshire Revised Statutes 383-C:10-1006 – Completion of Plan of Dissolution
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(a) Upon issuance of the commissioner’s decision approving a trust company’s application for dissolution, the trust company may dissolve in accordance with the terms of its application for dissolution and plan for dissolution.
(b) Upon completion of all actions required under the plan for dissolution and compliance with any conditions prescribed by the commissioner, the trust company shall submit a report of its actions to the commissioner.
(c) The trust company’s board of directors shall certify, under oath, that the report is true and correct.
(d) Following receipt of the report, the commissioner may examine the trust company to determine whether:
(1) All required actions have been taken to liquidate or reorganize the trust company in accordance with the plan for dissolution; and
(2) The trust company complied with any conditions prescribed by the commissioner.
(e) After receiving the trust company’s report, determining that the required actions under the plan for dissolution have been completed, and determining that the trust company complied with any conditions prescribed by the commissioner, the commissioner shall notify the trust company that the dissolution has been completed and is final.
(1) The notice shall supplement the approval of the application for dissolution issued by the commissioner under N.H. Rev. Stat. § 383-A:6-604.
(2) After receiving the notice, the trust company shall surrender its charter to the commissioner, and the commissioner shall issue a certificate of dissolution, which the trust company shall file with the secretary of state in accordance with N.H. Rev. Stat. § 383-C:10-1007.
(f) If the commissioner is not satisfied that all required actions have been taken or the trust company has not complied with all of the conditions prescribed by the commissioner, then the commissioner shall notify the dissolving trust company what additional actions shall be taken to be eligible for a certificate of dissolution.
(1) The notice shall supplement the approval of the application for dissolution issued by the commissioner under N.H. Rev. Stat. § 383-A:6-604.
(2) In the notice, the commissioner may establish a deadline for the submission of evidence that the additional actions have been taken.
(3) The commissioner may extend the deadline for good cause shown.
(4) If, before the deadline, the trust company fails to submit evidence that the additional actions have been taken or the commissioner determines that the submitted evidence is inadequate or otherwise unsatisfactory, then the commissioner may revoke its approval of the application for dissolution.
(b) Upon completion of all actions required under the plan for dissolution and compliance with any conditions prescribed by the commissioner, the trust company shall submit a report of its actions to the commissioner.
Terms Used In New Hampshire Revised Statutes 383-C:10-1006
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
(c) The trust company’s board of directors shall certify, under oath, that the report is true and correct.
(d) Following receipt of the report, the commissioner may examine the trust company to determine whether:
(1) All required actions have been taken to liquidate or reorganize the trust company in accordance with the plan for dissolution; and
(2) The trust company complied with any conditions prescribed by the commissioner.
(e) After receiving the trust company’s report, determining that the required actions under the plan for dissolution have been completed, and determining that the trust company complied with any conditions prescribed by the commissioner, the commissioner shall notify the trust company that the dissolution has been completed and is final.
(1) The notice shall supplement the approval of the application for dissolution issued by the commissioner under N.H. Rev. Stat. § 383-A:6-604.
(2) After receiving the notice, the trust company shall surrender its charter to the commissioner, and the commissioner shall issue a certificate of dissolution, which the trust company shall file with the secretary of state in accordance with N.H. Rev. Stat. § 383-C:10-1007.
(f) If the commissioner is not satisfied that all required actions have been taken or the trust company has not complied with all of the conditions prescribed by the commissioner, then the commissioner shall notify the dissolving trust company what additional actions shall be taken to be eligible for a certificate of dissolution.
(1) The notice shall supplement the approval of the application for dissolution issued by the commissioner under N.H. Rev. Stat. § 383-A:6-604.
(2) In the notice, the commissioner may establish a deadline for the submission of evidence that the additional actions have been taken.
(3) The commissioner may extend the deadline for good cause shown.
(4) If, before the deadline, the trust company fails to submit evidence that the additional actions have been taken or the commissioner determines that the submitted evidence is inadequate or otherwise unsatisfactory, then the commissioner may revoke its approval of the application for dissolution.