(a) For purposes of determining family members, a family trust company may elect to use the method described in RSA 383-D:4-402(a) or the alternate method described in RSA 383-D:4-402(b). The family trust company may change its election by filing with the commissioner a notice of the change.
(b) Except with the commissioner's prior approval, a family trust company cannot change its election more than once every 10 years after the issuance of its certificate of authority.
(c) Except with the commissioner's prior approval, the new method is effective on January 1 of the year after which the family trust company files its notice with the commissioner.