Revision: Jan. 11, 2022, 2:38 p.m.
Commerce
January 11, 2022
2022-0062s
11/10
Amendment to SB 206
Amend the bill by replacing all after section 1 with the following:
2 New Subparagraph; Consumer Guaranty Contracts; Prohibited Acts. Amend RSA 415-C:7, I by inserting after subparagraph (h) the following new subparagraph:
(i) Fail to refund unearned contract fees with respect to any cancellation of a consumer guaranty contract with a duration of 12 months or more. Contract fees for contracts with a duration of 12 months or more are earned pro-rata over the length of the contract. Obligors shall not charge a cancellation administrative fee of more than 10 percent of the contract price or $75, whichever is less, for a contract of any duration. All cancellation administrative fees must be disclosed in the contract, regardless of the contract’s duration.
3 Repeal. The following are repealed:
I. RSA 415-C:1, II(b)(2), relative to the definition of consumer guaranty contracts as it relates to prepaid legal services contracts.
II. RSA 415-C:1, XI, relative to the definition of prepaid legal services contract.
4 Effective Date. This act shall take effect 60 days after its passage.