Revision: Jan. 20, 2011, midnight
SB 57 – AS INTRODUCED
2011 SESSION
08/03
SENATE BILL 57
AN ACT relative to regulation of title loan lenders.
SPONSORS: Sen. Carson, Dist 14; Sen. Sanborn, Dist 7; Sen. De Blois, Dist 18; Sen. Boutin, Dist 16; Rep. Marshall Quandt, Rock 13; Rep. Hunt, Ches 7; Rep. Gidge, Hills 24; Rep. Baldasaro, Rock 3; Rep. Shaw, Hills 16
This bill increases the maximum percentage of interest allowed to be charged by title loan lenders annually.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
11-0968
08/03
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eleven
AN ACT relative to regulation of title loan lenders.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Title Loan Lenders; Interest Rates. Amend RSA 399-A:14, VI to read as follows:
VI. Charge interest at higher than [36 percent per year.] 25 percent per month, however actual costs incurred by the lender [to perfect a security interest in the title] pursuant to RSA 399-A:11, XI may be passed through to the borrower[, thus increasing the annual percentage rate above 36 percent].
2 Effective Date. This act shall take effect 60 days after its passage.