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. A key change is the elimination of regular examination fees for state-chartered credit unions, trust companies, and family trust companies, which will be replaced by an annual fixed base fee of $23,000 for most entities and $11,000 for family trust companies, effective July 1, 2027. Additionally, the bill clarifies that the costs of examinations will be borne by the examined entity, with exceptions for unlicensed individuals engaged in unlicensed activity. The bill also aligns state licensing requirements with the federal SAFE Act, easing restrictions for applicants with certain prior criminal convictions seeking mortgage loan originator licenses, and raises application and renewal fees for various financial licenses.

Furthermore, the bill introduces new definitions and fee structures for family trust companies, mandates timely payment of fees, and outlines responsibilities for state-chartered institutions undergoing dissolution or conversion. It modifies licensing requirements for nondepository mortgage bankers, brokers, and servicers, including a reduction in the look-back period for felony convictions and the inclusion of specific misdemeanors in the evaluation process. The bill also increases various application and renewal fees, such as the new state bank or credit union charter fee and the nonrefundable application fee for money transmitters. Overall, HB 1207-FN aims to enhance regulatory oversight, streamline the licensing process, and increase revenue through higher fees while eliminating regular examination fees in favor of a fixed base fee structure starting in FY 2028.

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
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