Bill Text - HB1473 (2016)

Relative to small loans.


Revision: Dec. 14, 2015, midnight

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HB 1473 - AS INTRODUCED

 

2016 SESSION

\t16-2550

\t08/09

 

HOUSE BILL\t1473

 

AN ACT\trelative to small loans.

 

SPONSORS:\tRep. Jones, Straf. 24

 

COMMITTEE:\tCommerce and Consumer Affairs

 

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ANALYSIS

 

\tThis bill repeals a provision relative to late fees on small loan installments in default.

 

\tThis bill also repeals a provision relative to the inclusion of a provision in the loan agreement that the borrower may cancel the loan transaction under certain circumstances.

 

\tThis bill is a request of the banking department.

 

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Explanation:\tMatter added to current law appears in bold italics.

\t\tMatter removed from current law appears [in brackets and struckthrough.]

\t\tMatter which is either (a) all new or (b) repealed and reenacted appears in regular type.

\t16-2550

\t08/09

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Sixteen

 

AN ACT\trelative to small loans.

 

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

 

\t1  Repeal.  The following are repealed:

\t\tI.  RSA 399-A:15, XV, relative to late fees on small loan installments in default.

\t\tII.  RSA 399-A:15, XVIII, relative to the inclusion of a provision in the loan agreement that the borrower may cancel the loan transaction under certain circumstances.

\t2  Effective Date.  This act shall take effect 60 days after its passage.

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