New Hampshire Revised Statutes 383-C:14-1401 – Regular Examination
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I. Subject to N.H. Rev. Stat. § 383-C:14-1402, the commissioner shall examine the condition and management of a trust company every 18 months, or more often when necessary in his or her judgment.
II. For trust companies 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.
III. A trust company qualifies for examination treatment under paragraph II if:
(a) It has consistently been given high ratings in past exams.
(b) It is not currently subject to an enforcement proceeding or order.
(c) The commissioner has deemed it prudent to apply this paragraph and paragraph II.
II. For trust companies 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.
Terms Used In New Hampshire Revised Statutes 383-C:14-1401
- 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
III. A trust company qualifies for examination treatment under paragraph II if:
(a) It has consistently been given high ratings in past exams.
(b) It is not currently subject to an enforcement proceeding or order.
(c) The commissioner has deemed it prudent to apply this paragraph and paragraph II.