TITLE XXXV BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
CHAPTER 383-D FAMILY TRUST COMPANY ACT
ARTICLE 5 Organization and Conversion
Section 383-D:5-506
383-D:5-506 Conversion Into a Trust Company. –
A family trust company may apply to convert to a trust company that is authorized to transact business with the general public by filing an application for a trust company charter in accordance with article 3 of RSA 383-A. RSA 383-A and RSA 383-C shall govern the application, and this chapter shall not apply to the application. The conversion shall be effective upon the issuance of a certificate authority granting the entity the authority to transact trust business, including transacting business with the general public. Upon the conversion's effective date, the entity shall cease to be a family trust company, and any exemptions granted under this chapter shall terminate.