HB1653 (2018) Detail

Relative to the uniform commercial code.


HB 1653 - AS INTRODUCED

 

 

2018 SESSION

18-2644

05/06

 

HOUSE BILL 1653

 

AN ACT relative to the uniform commercial code.

 

SPONSORS: Rep. Marple, Merr. 24; Rep. Comeau, Carr. 5; Rep. Howard, Belk. 8; Rep. Itse, Rock. 10

 

COMMITTEE: Commerce and Consumer Affairs

 

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ANALYSIS

 

This bill requires the disclosure of certain contract terms.

 

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

18-2644

05/06

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Eighteen

 

AN ACT relative to the uniform commercial code.

 

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

 

1  Statement of Findings.  The general court finds that the protocol of the Uniform Commercial Code, as adopted in RSA 382-A, requires all corporations to disclose all elements of any contract being offered.  Rampant non-disclosure is a fault that must be addressed by the general court.

2  Disclosure of Contract Terms Required.

I.  All contracts with sovereign "inhabitants" defined under Part II Article 30 of the New Hampshire Constitution and sojourners in this Republic shall have all elements of any contract being offered, fully and completely disclosed and explained; particularly those contracts involving an ens legis or strawman, as commonly referred.  A sovereign inhabitant will be harmed by any unrevealed element if such inhabitant does not reserve his or her rights under RSA 382-A:1-103 and RSA 382-A:1-308; therefore these 2 citations are to be included above the signature line on the contract, with the words "all rights reserved" or "without prejudice RSA 382-A:1-306, RSA 382-A:1-103, UCC 1-103, UCC 1-308."

II.  The failure of any corporation to provide full disclosure of all elements of every contract as required by paragraph I shall result in the forfeiture of $10,000 to the state treasury.  If a municipal corporation funded by the state fails to make such disclosure, the forfeiture of $10,000 will be a set-off from that entity's funding received from the state.

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

Links

HB1653 at GenCourtMobile

Action Dates

Date Body Type
Feb. 7, 2018 House Hearing
Feb. 14, 2018 House Hearing
Feb. 21, 2018 House Exec Session
House Floor Vote
March 6, 2018 House Floor Vote

Bill Text Revisions

HB1653 Revision: 2354 Date: Nov. 13, 2017, 12:46 p.m.

Docket

Date Status
Jan. 3, 2018 Introduced 01/03/2018 and referred to Commerce and Consumer Affairs HJ 1 P. 18
Feb. 7, 2018 ==CANCELLED== Public Hearing: 02/07/2018 09:00 AM LOB 302
Feb. 14, 2018 ==RESCHEDULED== Public Hearing: 02/14/2018 09:00 AM LOB 302
Feb. 20, 2018 Subcommittee Work Session: 02/20/2018 09:00 AM LOB 305
Feb. 21, 2018 Executive Session: 02/21/2018 LOB 302
Committee Report: Inexpedient to Legislate (Vote 18-0; CC)
March 6, 2018 Committee Report: Inexpedient to Legislate for 03/06/2018 (Vote 18-0; CC) HC 9 P. 8
March 6, 2018 Inexpedient to Legislate: MA VV 03/06/2018 HJ 6 P. 13