New Hampshire Revised Statutes 384-G:13 – Examinations
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Subject to federal preemption where applicable:
I. The banking department may examine the business affairs of any bank, as it deems necessary to determine whether a revolving credit plan complies with this chapter and the rules adopted hereunder and also with RSA 399-B, the Truth in Lending Act, 15 U.S.C. § 1601 et seq., and any other applicable law or regulation. In determining compliance, the banking department may examine the books, accounts, records, files, and other documents or matters of any bank or person. In conjunction therewith, the banking department shall have the power to subpoena witnesses and administer oaths in any adjudicative proceedings, and to compel, by subpoena duces tecum, the production of all books, records, files, and other documents and materials relevant to its investigation.
II. A bank shall maintain such records as will enable the banking department to examine whether the bank’s business is in compliance with the provisions of this chapter and the rules adopted pursuant to it. Such records shall be maintained and made available for examination for a period of at least 3 years after the loan is closed, if the loan is not retained in the bank’s loan portfolio, or 3 years after the loan is paid in full, if the loan is retained in the bank’s loan portfolio. Banks may maintain photocopies, microfilm, microfiche, or electronic copies of original documents.
III. For the purpose of discovering violations of this chapter, the banking department may examine, during business hours, the records of any bank and of any person by whom any such loan is made, whether such person shall claim to act, as principal, agent, or other representative, or under, or without the authority of this chapter; and for that purpose, the banking department shall have access to the books, papers, records, files, and vaults of all such persons. The banking department shall also have authority to examine, under oath, all persons whose testimony it may require relative to such loans or business.
IV. The affairs and records within this state of every bank shall be subject at any time to such periodic, special, regular, or other examination by the banking department, with or without notice to the bank. All books, papers, files, related material, and records of assets of the bank shall be subject to the banking department’s examination.
V. Any agent of the banking department may make a thorough examination into the business affairs of each bank and shall report any violations of law, rule, or standard business practice to the banking department.
VI. The expense of such examination shall be chargeable to and paid by the bank. The procedure for such payment shall be the same as for payments by institutions for cost of examinations under N.H. Rev. Stat. § 383:11.
I. The banking department may examine the business affairs of any bank, as it deems necessary to determine whether a revolving credit plan complies with this chapter and the rules adopted hereunder and also with RSA 399-B, the Truth in Lending Act, 15 U.S.C. § 1601 et seq., and any other applicable law or regulation. In determining compliance, the banking department may examine the books, accounts, records, files, and other documents or matters of any bank or person. In conjunction therewith, the banking department shall have the power to subpoena witnesses and administer oaths in any adjudicative proceedings, and to compel, by subpoena duces tecum, the production of all books, records, files, and other documents and materials relevant to its investigation.
Terms Used In New Hampshire Revised Statutes 384-G:13
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) Source: OCC
- 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
- Subpoena: A command to a witness to appear and give testimony.
- Subpoena duces tecum: A command to a witness to produce documents.
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
- Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
II. A bank shall maintain such records as will enable the banking department to examine whether the bank’s business is in compliance with the provisions of this chapter and the rules adopted pursuant to it. Such records shall be maintained and made available for examination for a period of at least 3 years after the loan is closed, if the loan is not retained in the bank’s loan portfolio, or 3 years after the loan is paid in full, if the loan is retained in the bank’s loan portfolio. Banks may maintain photocopies, microfilm, microfiche, or electronic copies of original documents.
III. For the purpose of discovering violations of this chapter, the banking department may examine, during business hours, the records of any bank and of any person by whom any such loan is made, whether such person shall claim to act, as principal, agent, or other representative, or under, or without the authority of this chapter; and for that purpose, the banking department shall have access to the books, papers, records, files, and vaults of all such persons. The banking department shall also have authority to examine, under oath, all persons whose testimony it may require relative to such loans or business.
IV. The affairs and records within this state of every bank shall be subject at any time to such periodic, special, regular, or other examination by the banking department, with or without notice to the bank. All books, papers, files, related material, and records of assets of the bank shall be subject to the banking department’s examination.
V. Any agent of the banking department may make a thorough examination into the business affairs of each bank and shall report any violations of law, rule, or standard business practice to the banking department.
VI. The expense of such examination shall be chargeable to and paid by the bank. The procedure for such payment shall be the same as for payments by institutions for cost of examinations under N.H. Rev. Stat. § 383:11.