HB562 (2013) Detail

Relative to the interest rate on title loans.


HB 562 – AS INTRODUCED

2013 SESSION

13-1005

09/03

HOUSE BILL 562

AN ACT relative to the interest rate on title loans.

SPONSORS: Rep. Butler, Carr 7; Rep. Davis, Merr 20; Rep. Kurk, Hills 2; Rep. Souza, Hills 43; Sen. Pierce, Dist 5

COMMITTEE: Commerce and Consumer Affairs

ANALYSIS

This bill caps the interest rate on title loans at 36 percent.

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

13-1005

09/03

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Thirteen

AN ACT relative to the interest rate on title loans.

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

1 Title Loans; Interest Rate. Amend RSA 399-A:14, VI to read as follows:

VI. Charge interest at higher than [25] 36 percent per [month] year, however actual costs incurred by the lender pursuant to RSA 399-A:11, XI may be passed through to the borrower.

2 Effective Date. This act shall take effect January 1, 2014.

Links

HB562 at GenCourtMobile

Action Dates

Date Body Type

Bill Text Revisions

HB562 Revision: 24835 Date: Jan. 28, 2013, midnight

Docket