Revision: Jan. 1, 2008, midnight
HB 1198 – AS INTRODUCED
2008 SESSION
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
This bill limits the annual interest that may be charged on small loans.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.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.