TITLE XXXV BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
CHAPTER 383-D FAMILY TRUST COMPANY ACT
ARTICLE 10 Reports, Certifications, and Other Filings
Section 383-D:10-1002
383-D:10-1002 Change of Designated Relative. –
(a) A family trust company may change its designated relative by filing with the commissioner notice in which the family trust company designates a new designated relative.
(b) Except with the commissioner's prior approval, a family trust company cannot change its designated relative more than once every 10 years after the issuance of its certificate of authority.
(c) Except with the commissioner's prior approval, the change of a family trust company's designated relative is effective on January 1 of the year after in which the family trust company files its notice with the commissioner.