§ 383-9-e

383:9-e Corporations as Small Business Lenders. – If a corporation becomes a small business lender through any loan program by the United States Small Business Administration, which requires the corporation to meet banking requirements and to be examined at least annually by the New Hampshire banking department, an examination shall be made by the bank commissioner of the activities of the small business lender, and such reports shall be available to the United States Small Business Administration. The corporation shall not be deemed a banking institution, but shall be subject to the supervision, examination, control and enforcement authority of the bank commissioner under RSA 383 with regard to its loan portfolio. The bank commissioner shall make an annual report of the small business lender, and such report shall be available to the guarantying agency including the United States Small Business Administration. The corporation shall pay the cost of any such examination by the commissioner under RSA 383:11. Source. 1993, 315:1, eff. Aug. 22, 1993.