HB 1381 – AS INTRODUCED
2012 SESSION
08/09
HOUSE BILL 1381
AN ACT exempting note finders from licensing requirements for real estate brokers and mortgage brokers.
SPONSORS: Rep. Mirski, Graf 10; Rep. Winter, Merr 3; Rep. Cohn, Merr 6; Rep. C. McGuire, Merr 8; Rep. Warden, Hills 7; Rep. Bowers, Sull 3
COMMITTEE: Executive Departments and Administration
This bill defines note finders and exempts them from licensing requirements for real estate brokers and mortgage brokers.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
12-2424
08/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twelve
AN ACT exempting note finders from licensing requirements for real estate brokers and mortgage brokers.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Paragraph; Note Finder; Definition. Amend RSA 397-A:1 by inserting after paragraph XV the following new paragraph:
XV-a. “Note finder” means a broker who finds notes for sale, finds buyers for notes, and receives a commission or other fee for arranging the sale of the note from the note seller to the note buyer.
2 New Paragraph; Note Finders Exempt. Amend RSA 397-A:4 by inserting after paragraph VI the following new paragraph:
VII. Note finders as defined by RSA 397-A:1, XV-a.
3 New Paragraph; Note Finder; Definition. Amend RSA 331-A:2 by inserting after paragraph VI-b the following new paragraph:
VI-c. “Note finder” means a broker who finds notes for sale, finds buyers for notes, and receives a commission or other fee for arranging the sale of the note from the note seller to the note buyer.
4 New Paragraph; Note Finders Exempt. Amend RSA 331-A:4 by inserting after paragraph IX the following new paragraph:
X. Note finders as defined by RSA 331-A:2, VI-c.
5 Effective Date. This act shall take effect 60 days after its passage.