BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
TRUST COMPANY ACT
Required Capital; Fidelity Bond; Liability Insurance; Liquidation Pledge
383-C:5-502 Required Capital.
(a) The minimum required capital of a trust company is $500,000. The commissioner may require a trust company to maintain required capital in excess of the minimum required capital.
(b) After a trust company is granted authority to transact business, a trust company shall maintain capital consistent with the trust company's capital plan and not less than the required capital determined by the commissioner for the trust company. Upon notice to a trust company and in consideration of the trust company's safety and soundness, the commissioner may: increase the amount of the trust company's required capital, or the commissioner may reduce the amount of trust company's required capital. All changes to the trust company's required capital shall be reflected in one or more amendments to the trust company's capital plan.
(c) After a trust company is granted authority to transact business, a trust company shall hold and invest its capital, including the trust company's required capital, in accordance with the trust company's capital plan. The investment of a trust company's capital shall be in manner consistent with the prudent investor standard under RSA 564-B:9-902. Consistent with trust company safety and soundness and the prudent investor standard, a trust company's capital plan may permit a trust company to invest a portion of its capital, including a portion of the trust company's required capital, in any investment that has principal risk.
Source. 2015, 272:16, eff. Oct. 1, 2015.