The bill HB 1207-FN proposes significant amendments to New Hampshire's banking laws, particularly concerning the regulation and fees for state-chartered financial institutions. Key changes include the elimination of regular examination fees for state-chartered credit unions, trust companies, and family trust companies, which will now be subject to a fixed annual fee of $23,000 for most institutions and $11,000 for family trust companies. The bill also clarifies that the costs of examinations will be borne by the examined entity, with an exemption from examination fees for regular examinations starting July 1, 2027. Additionally, it aligns the licensing requirements for mortgage loan originators with the federal SAFE Act, easing restrictions for applicants with certain prior criminal convictions, and raises application and renewal fees for various financial licenses.

Moreover, the bill introduces a new tier for fiduciary assets exceeding $50 billion, assessed at a rate of one percent, and modifies the licensing requirements for nondepository mortgage bankers, brokers, and servicers by reducing the look-back period for felony convictions from ten years to seven years. It also increases various licensing fees, such as the application fee for money transmitters from $500 to $1,000, and raises fees for mortgage bankers and servicers. The bill aims to streamline the licensing process while enhancing regulatory oversight and ensuring the financial stability of these institutions, with a projected increase in revenue for the state.

Statutes affected:
Introduced: 383:9, 383:11, 397-A:5, 397-A:7, 399-A:6, 399-D:6, 399-G:6, 399-G:10, 399-G:18, 399-G:21, 383-E:11-1101, 383-A:6-609, 383-B:3-303, 383-C:2-201, 383-C:6-601, 399-G:8, 399-G:11, 399-D:4, 399-D:5, 399-A:4, 399-A:5, 397-A:8
As Amended by the House: 383:9, 383:11, 397-A:5, 397-A:7, 399-A:6, 399-D:6, 399-G:6, 399-G:10, 399-G:18, 399-G:21, 383-E:11-1101, 383-A:6-609, 383-B:3-303, 383-C:2-201, 383-C:6-601, 399-G:8, 399-G:11, 399-D:4, 399-D:5, 399-A:4, 399-A:5, 397-A:8
As Amended by the Senate: 383:9, 383:11, 397-A:5, 397-A:7, 399-A:6, 399-D:6, 399-G:6, 399-G:10, 399-G:18, 399-G:21, 383-E:11-1101, 383-A:6-609, 383-B:3-303, 383-C:2-201, 383-C:6-601, 399-G:8, 399-G:11, 399-D:4, 399-D:5, 399-A:4, 399-A:5, 397-A:8
Version adopted by both bodies: 383:9, 383:11, 397-A:5, 397-A:7, 399-A:6, 399-D:6, 399-G:6, 399-G:10, 399-G:18, 399-G:21, 383-E:11-1101, 383-A:6-609, 383-B:3-303, 383-C:2-201, 383-C:6-601, 399-G:8, 399-G:11, 399-D:4, 399-D:5, 399-A:4, 399-A:5, 397-A:8
HB1207 text: 383:9, 383:11, 397-A:5, 397-A:7, 399-A:6, 399-D:6, 399-G:6, 399-G:10, 399-G:18, 399-G:21, 383-E:11-1101, 383-A:6-609, 383-B:3-303, 383-C:2-201, 383-C:6-601, 399-G:8, 399-G:11, 399-D:4, 399-D:5, 399-A:4, 399-A:5, 397-A:8