SB138 (2021) Detail

(New Title) relative to the definition of an "investment metal contract".


CHAPTER 120

SB 138 - FINAL VERSION

 

04/01/2021   0979s

2021 SESSION

21-1077

11/10

 

SENATE BILL 138

 

AN ACT relative to the definition of an "investment metal contract".

 

SPONSORS: Sen. Sherman, Dist 24; Sen. D'Allesandro, Dist 20; Sen. Gannon, Dist 23; Sen. Carson, Dist 14; Sen. Perkins Kwoka, Dist 21; Sen. Rosenwald, Dist 13; Sen. Watters, Dist 4; Sen. Bradley, Dist 3; Sen. Giuda, Dist 2; Sen. Hennessey, Dist 1; Rep. Knirk, Carr. 3; Rep. Grote, Rock. 24; Rep. M. Pearson, Rock. 34

 

COMMITTEE: Commerce

 

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AMENDED ANALYSIS

 

This bill exempts certain contracts from the definition of "investment metal contract".

 

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

04/01/2021   0979s 21-1077

11/10

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Twenty One

 

AN ACT relative to the definition of an "investment metal contract".

 

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

 

120:1  New Subparagraph; Uniform Securities Act; Definitions; Investment Metal Contract; Exemptions.  Amend RSA 421-B:1-102, (32)(B) by inserting after subparagraph (iv) the following new subparagraph:

(v)  A commodity contract for the purchase of one or more investment metals and investment gems which requires, and under which the purchaser receives, within 7 calendar days from the payment in good funds of any portion of the purchase price, physical delivery of the quantity of the investment metals and investment gems purchased by such payment, provided that, for purposes of this paragraph, physical delivery shall be deemed to have occurred if, within that 7-day period, the quantity of investment metals and investment gems purchased by the payment is delivered, whether in specifically segregated or fungible bulk form, into the possession of a depository, other than the seller, which is either:  

(a)  A bank;  

(b)  A depository, the warehouse receipts of which are recognized for delivery purposes for any commodity on a contract market designated by the Commodity Futures Trading Commission;  

(c)  A storage facility licensed or regulated by the United States or any agency of the United States; or  

(d)  A depository designated by the department, and such depository, or other person which qualifies as a depository, as specified in this paragraph, issues and the purchaser receives, a certificate, document of title, confirmation or other instrument evidencing that such quantity of investment metals and investment gems has been delivered to the depository and is being and will continue to be held by the depository on the purchaser's behalf, free and clear of all liens and encumbrances, other than liens of the purchaser, tax liens, liens agreed to by the purchaser, or liens of the depository for fees and expenses, which have previously been disclosed to the purchaser.

120:2  Effective Date.  This act shall take effect January 1, 2022.

 

Approved: July 09, 2021

Effective Date: January 01, 2022

Links

SB138 at GenCourtMobile
SB138 Discussion

Action Dates

Date Body Type
March 16, 2021 Senate Hearing
March 16, 2021 Senate Hearing
April 1, 2021 Senate Floor Vote
April 27, 2021 House Hearing
May 13, 2021 House Exec Session
House Floor Vote

Bill Text Revisions

SB138 Revision: 32816 Date: July 12, 2021, 4:21 p.m.
SB138 Revision: 32596 Date: June 3, 2021, 12:18 p.m.
SB138 Revision: 32250 Date: April 1, 2021, 5:01 p.m.
SB138 Revision: 32077 Date: Feb. 3, 2021, 4:02 p.m.

Docket


July 9, 2021: Signed by the Governor on 07/09/2021; Chapter 0119; Effective [&]


July 9, 2021: Signed by the Governor on 07/09/2021; Chapter 0120; Effective 01/01/2022


June 24, 2021: Enrolled Adopted, VV, (In recess 06/24/2021); SJ 20


June 24, 2021: Enrolled (in recess of) 06/24/2021


June 3, 2021: Ought to Pass: MA VV 06/03/2021 HJ 8 P. 5


: Committee Report: Ought to Pass (Vote 19-0; CC) HC 26 P. 5


May 13, 2021: Executive Session: 05/13/2021 10:00 am Members of the public may attend using the following link: To join the webinar: https://www.zoom.us/j/93883325643


April 27, 2021: Public Hearing: 04/27/2021 10:00 am Members of the public may attend using the following link: To join the webinar: https://www.zoom.us/j/96624100489 / Executive session on pending legislation may be held throughout the day (time permitting) from the time the committee is initially convened.


April 9, 2021: Introduced (in recess of) 04/09/2021 and referred to Commerce and Consumer Affairs HJ 7 P. 100


April 1, 2021: Ought to Pass with Amendment 2021-0979s, RC 24Y-0N, MA; OT3rdg; 04/01/2021; SJ 10


April 1, 2021: Sen. Sherman Floor Amendment # 2021-1061s, RC 7Y-17N, AF; 04/01/2021; SJ 10


: Committee Amendment # 2021-0979s, RC 23Y-1N, AA; [&]; SJ 10


April 1, 2021: Sen. Sherman Moved to Remove SB 138 from the Consent Calendar; 04/01/2021; SJ 10


April 1, 2021: Committee Report: Ought to Pass with Amendment # 2021-0979s, 04/01/2021; Vote 5-0; CC; SC 17


March 16, 2021: Remote Hearing: 03/16/2021, 09:15 am, on proposed amendment # 2021-0543s; Links to join the hearing can be found in the Senate Calendar; SC 15


March 16, 2021: Remote Hearing: 03/16/2021, 09:00 am; Links to join the hearing can be found in the Senate Calendar; SC 15


Jan. 6, 2021: Introduced 01/06/2021 and Referred to Commerce; SJ 3