HB 606 – AS INTRODUCED
HOUSE BILL 606
This bill establishes a committee to study the formation of a consumer protection working group as recommended by the joint legislative committee to review the state’s regulatory oversight over Financial Resources Mortgage, Inc.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eleven
AN ACT establishing a committee to study the formation of a consumer protection working group.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Committee Established. There is established a committee to study the formation of a consumer protection working group.
2 Membership and Compensation.
I. The members of the committee shall be as follows:
(a) Three members of the house of representatives, appointed by the speaker of the house of representatives, one of whom shall be a member of the committee on commerce and consumer affairs.
(b) Two members of the senate, appointed by the president of the senate.
II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.
3 Duties. The committee shall study the recommendation of the joint legislative committee to review the state’s regulatory oversight over Financial Resources Mortgages, Inc., that the state establish a consumer protection working group comprised of representatives of all regulatory agencies changed with enforcing the consumer protection act or other more targeted statutes protecting the public from unfair and deceptive trade practices. The committee shall determine the membership, duties, and responsibilities of the working group, including the working group’s role, if any, in determining jurisdiction in complex cases and maintaining a repository of consumer complaints. The committee shall solicit information and testimony from the department of justice, the consumer protection and antitrust bureau, the bureau of securities regulation, the banking department, the insurance department, the public utilities commission, the office of the consumer advocate for the public utilities commission, and such additional persons and entities as may be of assistance to the committee.
4 Chairperson; Quorum. The members of the study committee shall elect a chairperson from among the members. The first meeting of the committee shall be called by the first-named house member. The first meeting of the committee shall be held within 45 days of the effective date of this section. Three members of the committee shall constitute a quorum.
5 Report. The committee shall report its findings and any recommendations for proposed legislation to the speaker of the house of representatives, the president of the senate, the house clerk, the senate clerk, the governor, and the state library on or before November 1, 2011.
6 Effective Date. This act shall take effect upon its passage.