CHAPTER 166
SB 181 - FINAL VERSION
2003 SESSION
06/09
SENATE BILL 181
AN ACT relative to investigations by and license revocation appeals to the board of trust company incorporation.
This bill gives subpoena power to the board of trust company incorporation in its investigations of trust companies and other corporations of a similar character.
The bill also removes certain rights of appeal to the board of trust company incorporation from unfavorable actions of the banking department.
This bill is a request of the banking department.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
03-1150
06/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Three
AN ACT relative to investigations by and license revocation appeals to the board of trust company incorporation.
Be it Enacted by the Senate and House of Representatives in General Court convened:
166:1 New Section; Investigations. Amend RSA 392 by inserting after section 5 the following new section:
392:5-a Investigations. For the purpose of any investigation under this chapter, the board 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.
166:2 Revocation; Right of Appeal Removed. Amend RSA 398-A:1-b to read as follows:
398-A:1-b Revocation. The commissioner may, upon notice and hearing, revoke a license if satisfied that the licensee has violated any provisions of this chapter, or that the licensee does not meet the standards established in RSA 398-A:1-a, IV. [The licensee shall have a right of appeal to the board of trust company incorporation.]
166:3 License Revocation; Suspension; Appeal Removed. Amend the section heading of RSA 397-A:17 to read as follows:
397-A:17 License Revocation; Suspension[; Appeal].
166:4 Repeal. RSA 397-A:17, IV, relative to the appeal of an unfavorable action by the banking department, is repealed.
166:5 Effective Date. This act shall take effect January 1, 2004.
(Approved: June 17, 2003)
(Effective Date: January 1, 2004)