HB1198 (2008) Detail

Limiting the annual interest that may be charged on small loans.


HB 1198 – AS INTRODUCED

2008 SESSION

08-2218

08/04

HOUSE BILL 1198

AN ACT limiting the annual interest that may be charged on small loans.

SPONSORS: Rep. Marsh, Rock 17; Rep. John Kelley, Hills 26

COMMITTEE: Commerce

ANALYSIS

This bill limits the annual interest that may be charged on small loans.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

08-2218

08/04

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Eight

AN ACT limiting the annual interest that may be charged on small loans.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 New Paragraph; Provisions Applicable to Loans; Maximum Annual Interest. Amend RSA 399-A:12 by inserting after paragraph VII the following new paragraph:

VIII. No small loan lender shall permit any person to be obligated to him or her on one or more contracts of loan with an annual interest of more than 36 percent.

2 Effective Date. This act shall take effect 60 days after its passage.

Links

HB1198 at GenCourtMobile

Action Dates

Date Body Type

Bill Text Revisions

HB1198 Revision: 11400 Date: Jan. 1, 2008, midnight

Docket