(a) A state bank may be organized as a corporation under the Corporation Act or as a limited liability company under the LLC Act. A depository bank organized as a corporation may elect benefit corporation status in accordance with the New Hampshire Benefit Corporation Act.
(b) A state bank organized as a corporation may convert to a limited liability company in accordance with the Organizations Acts. A state bank organized as a limited liability company may convert to a corporation in accordance with the Organizations Acts.
Source. 2015, 272:16, eff. Oct. 1, 2015. 2021, 51:10, eff. July 24, 2021.