(a) An application seeking to amend bylaws by expanding the qualifications for membership shall provide parameters limiting the qualifications so that the membership is no larger than:

1. (1) Individuals who live, work, worship, or attend school in the state of New Hampshire; or
2. (2) Individuals who are part of a clearly defined group or located in a particular geographic area.

(c) An application seeking to amend bylaws for qualifications for membership shall include a business plan demonstrating the credit union's ability to serve the membership and include:

1. (1) The benefit to the state credit union of the change in qualifications for membership;
2. (2) A plan for delivery of services to the new membership;
3. (3) A procedure to verify individuals meet the requirements of qualifications for membership; and
4. (4) A demonstration of the state credit union’s financial ability to complete the plan.

(f) Communications provided to the commissioner under (e) above regarding a state credit union’s application to enlarge its field of membership shall be:

1. (1) In writing; and
2. (2) Received by the department prior to the conclusion of the 30-day notice period.

(h) An application to amend the bylaws to change the qualifications for membership shall be approved after:

1. (1) Consideration of comments received or testimony provided during a public hearing if one is held; and

2. (2) The commissioner finds that the proposed amendments comply with the applicable provisions of RSA 383-A and RSA 383-E and the state credit union is able to serve the proposed membership in accordance with the business plan provided in (c).

   Source. #10524, eff 2-20-14; ss by #13993, eff 6-1-24

   APPENDIX

   RULE

   STATUTE

   Ban 1104

   RSA 383:14,I II

   Ban 1107

   RSA 383-E:3-311; RSA 383-E:1-104; RSA 383-A:6-601