HB 562 – AS INTRODUCED
2013 SESSION
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
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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.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.