RSA 384-H:12: Duties and Liability of Bank.

I. A bank shall not have a fiduciary duty to any person with respect to a special deposit.

II. When a bank holding a special deposit becomes obligated to pay a beneficiary, a debtor-creditor relationship shall arise between the bank and beneficiary.

III. A bank holding a special deposit shall have a duty to a beneficiary to comply with the account agreement and this chapter.

IV. If a bank holding a special deposit does not comply with the account agreement or this chapter, the bank shall be liable to a depositor or beneficiary only for damages proximately caused by the noncompliance. Except as provided by other law of this state, the bank shall not be liable for consequential, special, or punitive damages.

V. A bank holding a special deposit may rely on records presented in compliance with the account agreement to determine whether the bank is obligated to pay a beneficiary.

VI. If the account agreement requires payment on presentation of a record, a bank shall determine within a reasonable time whether the record is sufficient to require payment. If the agreement requires action by the bank on presentation of a record, the bank shall not be liable for relying in good faith on the genuineness of the record if the record appears on its face to be genuine.

VII. Unless the account agreement provides otherwise, a bank shall not be required to determine whether a permissible purpose stated in the agreement continues to exist.